Table 4 Correlation matrix Variables (1)... | Emerald Publishing

Table 4

Correlation matrix

Variables	(1) SESTM	(2) VADER	(3) HIV	(4) LM
(1) SESTM	1.000
(2) VADER	−0.128*	1.000
(3) HIV	−0.189*	0.379***	1.000
(4) LM	−0.106	0.245***	0.355**	1.000
(5) Q (Commercial)	−0.089	0.098	0.190∗∗∗	0.126
(6) Q (Non-commercial)	0.143*	−0.008	0.022	−0.078
(7) WTI return	0.440***	−0.046	−0.192***	−0.222***
(8) US10 return	0.192*	0.023	−0.058	−0.125*
(9) US30 return	0.169*	0.000	−0.05	−0.143**
(10) VIX return	−0.007	−0.120**	0.011	0.194***
(11) Gold return	−0.003	0.112	0.029	0.066
(12) S&P500 return	0.200*	0.158***	−0.002	−0.086
(13) NASDAQ return	0.124**	0.162*	0.026	−0.089
(14) Dollar return	−0.033	−0.081	−0.032	0.007
(15) Gas return	0.102	0.081	0.051	0.014

Variables	(1) SESTM	(2) VADER	(3) HIV	(4) LM
(1) SESTM	1.000
(2) VADER	−0.128*	1.000
(3) HIV	−0.189*	0.379***	1.000
(4) LM	−0.106	0.245***	0.355**	1.000
(5) Q (Commercial)	−0.089	0.098	0.190∗∗∗	0.126
(6) Q (Non-commercial)	0.143*	−0.008	0.022	−0.078
(7) WTI return	0.440***	−0.046	−0.192***	−0.222***
(8) US10 return	0.192*	0.023	−0.058	−0.125*
(9) US30 return	0.169*	0.000	−0.05	−0.143**
(10) VIX return	−0.007	−0.120**	0.011	0.194***
(11) Gold return	−0.003	0.112	0.029	0.066
(12) S&P500 return	0.200*	0.158***	−0.002	−0.086
(13) NASDAQ return	0.124**	0.162*	0.026	−0.089
(14) Dollar return	−0.033	−0.081	−0.032	0.007
(15) Gas return	0.102	0.081	0.051	0.014

Note(s): This table provides the correlation matrix of the variables. Variables are defined in Appendix. *, **, and *** denote significance at the 10, 5, and 1% level, respectively

Source(s): Authors’ own work