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What does a positive or negative serial correlation show? watch

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    Any help here will be very much appreciated.

    Okay, I'm under the impression that serial correlation (autocorrelation as it is also referred to) measures the correlation between the values in the data set, am I right about this?

    Secondly, if something has a positive serial correlation, what does that actually say about the data? does that mean there is a correlation to the point where a new value could easily be predicted? And does a negative serial correlation mean the data set is completely random? And what would a serial correlation of zero mean?

    Thanks to anyone who can help me out, I've been trying to work this out for hours.
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    (Original post by Cdash)
    Any help here will be very much appreciated.

    Okay, I'm under the impression that serial correlation (autocorrelation as it is also referred to) measures the correlation between the values in the data set, am I right about this?

    Secondly, if something has a positive serial correlation, what does that actually say about the data? does that mean there is a correlation to the point where a new value could easily be predicted? And does a negative serial correlation mean the data set is completely random? And what would a serial correlation of zero mean?

    Thanks to anyone who can help me out, I've been trying to work this out for hours.
    Um.. i'm not sure if I can help, but i shall try, and i'm open to correction.

    Certainly with the one correlation test I've ever done (spearman's), A positive correlation means that they perfectly correlate to some extent (e.g. are proportional, or whatever you want to call it).

    A value of zero means they don't corellate at all.

    I'm fairly sure a large negative value (e.g. -1) means they're inversely proportional, e.g. as one increases the other decreases. But I could be wrong.

    Sorry that i'm not very good at this

    _Kar.
 
 
 
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