2024-05-17 Azerbaijanian Manat News
![Currency mart logo](../../../images/blog/currency-mart-logo.png)
2024-05-16
Summary of Yesterday
- Opening:
- Closing:
- Difference of Opening & Closing:
- Daily High:
- Daily Low:
- Difference of Daily High & Low:
Statistical Measures
- Mean:
- Standard Deviation:
Trend
Understanding the Overall Trend
The data covers a period of about 24 hours, from May 16th, 2024, beginning at midnight and ending just before midnight. Over this period, the exchange rate fluctuates within a relatively narrow range, from a low of approximately 0.77117 to a high of approximately 0.81393. Despite these fluctuations, it is hard to say whether the overall rates increase, decrease, or remain stable due to the fact that the dataset only covers a day.
Identifying Seasonality or Recurring Patterns
To detect any seasonality, recurring patterns, we would need a much larger dataset including data covering various periods (days, weeks, months). This dataset is quite limited, only containing data within a day which is insufficient to establish any seasonal or recurring patterns, even any intraday patterns. Typically, days of the week, months of the year, any regularity could be found if we have data on a larger time scale.
Noting any Outliers
An apparent outlier is observed around 09:40 where the value dips significantly to around 0.77117 which is lower than the overall observed range. The sudden dip and recovery could be potential outliers. However, to statistically determine outliers, more rigorous methods need to be applied such as calculating z-scores or using the IQR method, which quantitatively evaluate if a data point significantly deviates from the rest.
Conclusion
Remember, this analysis only looks at historical data for one day and does not predict future behavior or identify cause-and-effect relationships. It is crucial to use a larger-scale dataset to detect any reasonable trend, seasonality, and outliers. And to draw strong conclusions, the analysis should be further enriched considering external factors and market dynamics.
![AZN Exchange Rate Undergoes Unpredictable Fluctuations Through The Day](http://currencymart.net/images/news/azerbaijanian-manat/2024-05-17/img-Ev7IVUTNvGahGzkWGWahLpvY.webp)