2024-05-17 Falkland Islands Pound News
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
Analysis of FKP Exchange Rates Time Series Data
While analyzing a time series data, we look for three components: trend, seasonality, and noise. Here's a breakdown of the three elements observed for this dataset:
1. Understanding the overall trend
From an initial review of the data points, we observe that the FKP exchange rate generally shows a slight upward trend over the time period specified, starting from approximately 1.70918 and ending around 1.71153. This suggests that the value of the currency has slightly increased in the timeframe given.
2. Recognition of seasonality patterns
A seasonality pattern in time-series data represents a consistent pattern in short-term intervals. As for this dataset, it's hard to identify a clear seasonality pattern due to the lack of discernible cyclical fluctuations in the data. Additionally, without more specifics about the date ranges (like which months are included) or any context about possible recurrent events that might affect the exchange rates, it's challenging to conclusively identify or rule out any seasonal trends.
3. Outliers Identification
Outliers are data points that significantly differ from the overall trend of the data. At first glance, no significant outliers are present in this dataset. Most of the FKP exchange rates seem to fall within the same approximate range and follow an ever so slight upward trend.
However, to be entirely sure, a more extensive statistical analysis would need to be performed. This might entail calculating z-scores, examining the number of standard deviations each data point is from the mean and potentially removing the data points that significantly deviate from the mean and conducting a Grubbs's Test.
Overall, the dataset appears to be relatively consistent, with a mild upward trend in the FKP exchange rate and no clear seasonal pattern or significant outliers.
