Why Use This Data Source In Your Models?
M1 Money Stock (M1SL) - Seasonally Adjusted
Board of Governors of Fed Reserve System
Money Stock Measures
Billions of Dollars, Seasonally Adjusted
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 Weighted Average.
Data shows auto correlation indicating a need for differencing
The ACF indicates 1 order differencing is appropriate.
Further differencing is reccommended
The Kwiatkowski-Phillips-Schmidt-Shin (KPSS) test, KPSS Trend = 0.51 p-value = 0.01 indicates that the data is not stationary.
The Shapiro-Wilk test returned W = 0.61 with a p-value =0.00 indicating the data does not follow a normal distribution.
A skewness score of 1.30 indicates the data are substantially skewed.
Hartigan's dip test score of 0.08 with a p-value of 0.00 inidcates the data is multimodal
Auto Correlation Function
Auto Correlation Function After Differencing
Partial Auto Correlation Function
Seasonal and Trend Decompostion
Board of Governors of the Federal Reserve System (US), M1 [M1SL], retrieved from FRED, Federal Reserve Bank of St. Louis; https://fred.stlouisfed.org/series/M1SL, June 30, 2022.
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