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If you tell me a two standard deviation move is x, that means something to me.
Three standard deviation you will see a three standard deviation move once every 10,000 observations.
According to my calculations it was a twenty-five standeviationation event.
There is a three standard deviation difference.
It's the same thing I'm assuming: phone calls cause a three standard deviation subtraction in intelligence.
So Ted Williams, I don't know what that comes out to, about a five standard deviation event.
Sometimes people talk to me and, oh, it's an eight standard deviation move.
I don't think we've seen an eight standard deviation move in the Cenazoic era.
Figure 1 also shows a negative reaction of about 0.000028 standard deviations in stock returns due to a shock from oil in period 3, while stock return rises to a positive value of 0.0000016 given a standard deviation shock from oil in period 4. The reaction of the stock price returns to a shock from oil fluctuates through period 20.
This implies that CONOIL's stock return increases given a unit standard deviation shock in oil in period 2. Conversely, the standard deviation shock from oil reduces stock returns in periods 3 and 4, which show negative standard deviation values of 0.00026 and 0.00099, respectively.
This is simply a band with upper boundary two standard deviations above a 15-day moving average and lower boundary two standard deviations below a 15-day moving average.
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Justyna Jupowicz-Kozak
CEO of Professional Science Editing for Scientists @ prosciediting.com