2024-05-01 Quetzal News
2024-04-30
Summary of Yesterday
- Opening:
- Closing:
- Difference of Opening & Closing:
- Daily High:
- Daily Low:
- Difference of Daily High & Low:
Statistical Measures
- Mean:
- Standard Deviation:
Trend
Data Analysis
To start with, to perform a comprehensive analysis of the dataset you provided, it's best to start by presenting an overview of the data to understand the general trends, the presence of any recurring patterns or seasonality, and detect any potential outliers.
1. Understanding the Overall Trend of the Exchange Rates
The general trend of the data series seems to be relatively stable, with a slight increase in the middle of the day. Specifically, the value starts at around 0.17601, gradually increasing to around 0.1772 before decreasing to around 0.176 at the end of the same day. However, for a more accurate overview, a visual representation such as a line graph or a scatter plot can help in more effectively showing the data’s pattern.
2. Identifying Any Seasonality or Recurring Patterns
From the data provided, it's hard to determine any seasonality or recurring patterns based solely on the day's data. Seasonal trends and patterns are often best observed over a longer period of time – weeks, months, or even years. This being said, throughout the day, an evident pattern is the slight increase in the middle of the day, which might indicate that transactions during work hours influence the exchange rate.
3. Noting Any Outliers
At a quick glance, there do not appear to be clear outliers in this dataset – i.e., points that differ strongly from the overall trend. However, a more in-depth statistical analysis, such as calculating the interquartile range or standard deviation, could highlight subtle outliers not immediately apparent. In this case, the exchange rate of around 0.17724 could potentially be considered an outlier compared to the range mainly lying between 0.176 and 0.1772.
In conclusion, an overall rise and fall in the exchange rate within the same day is observed, with no clear seasonality in the changes of exchange rates and potentially one outlier. To get more accurate results, or to forecast future rates, a more extensive dataset would be necessary, preferably covering at least several months of data.
Also, a good next step could be to explore causal factors and apply advanced statistical models designed for analyzing time-series data to better understand the underlying processes.