Why Use This Data Source In Your Models?
Corporate profits after tax describes the profits claimed by American corporations each quarter. This is indicative of GDP and overall economic health in the UDS each quarter.
Corporate Profits After Tax (w/out IVA & CCAdj)
U.S. Bureau of Economic Analysis
Gross Domestic Product
Billions of Dollars, Seasonally Adjusted Annual Rate
The data shows auto correlation and a non-normal distribution. The data should be differenced. While the Order Norm transformation, provides the best normality, the Yeo Johnson variable will also perform well.
Data is able to be distributed by time but not by geography. The roll up method used is Sum.
Data shows auto correlation indicating a need for differencing
The ACF indicates 1 order differencing is appropriate.
Following first order differencing, no further differencing is required based on the differenced ACF at lag one of 0.00
The Kwiatkowski-Phillips-Schmidt-Shin (KPSS) test, KPSS Trend = 0.20 p-value = 0.01 indicates that the data is not stationary.
The Shapiro-Wilk test returned W = 0.73 with a p-value =0.00 indicating the data does not follow a normal distribution.
A skewness score of 1.83 indicates the data are substantially skewed.
Hartigan's dip test score of 0.07 with a p-value of 0.17 inidcates the data is unimodal
Auto Correlation Function
Auto Correlation Function After Differencing
Partial Auto Correlation Function
Seasonal and Trend Decompostion
U.S. Bureau of Economic Analysis, Corporate Profits After Tax (without IVA and CCAdj) [CP], retrieved from FRED, Federal Reserve Bank of St. Louis; https://fred.stlouisfed.org/series/CP, December 15, 2019.
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