Table 12 Variance decomposition of maize, copper and crude oil prices (2000 to 2021 data)
From: Effects of crude oil prices on copper and maize prices
Equation | Period | SE | Maize price | Copper price | Crude oil price |
|---|---|---|---|---|---|
Maize price | 1 | 0.06 | 100.00 | 0.00 | 0.00 |
6 | 0.16 | 97.90 | 1.62 | 0.49 | |
12 | 0.20 | 87.69 | 9.64 | 2.67 | |
18 | 0.23 | 73.92 | 20.76 | 5.32 | |
24 | 0.26 | 61.52 | 30.98 | 7.50 | |
Copper price | 1 | 0.06 | 3.48 | 96.52 | 0.00 |
6 | 0.21 | 4.07 | 95.68 | 0.25 | |
12 | 0.30 | 3.14 | 94.19 | 2.68 | |
18 | 0.36 | 2.30 | 92.32 | 5.39 | |
24 | 0.41 | 1.81 | 90.88 | 7.32 | |
Crude oil price | 1 | 0.09 | 2.22 | 13.72 | 84.06 |
6 | 0.25 | 8.24 | 35.21 | 56.55 | |
12 | 0.30 | 11.76 | 45.70 | 42.54 | |
18 | 0.33 | 12.16 | 52.30 | 35.54 | |
24 | 0.36 | 11.22 | 56.82 | 31.96 |