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Table 6 Probability of all the monthly share prices.

From: Application of Markov chain to share price movement in Nigeria (1985–2019)

Month

Number

P1(I)

P1(D)

P1(I/D)

P1(I/I)

P1(D/D)

P1(D/I)

Jan

29

N = 25

P = 0.862

N = 4

P = 0.138

N = 3

P = 0.104

N = 21

P = 0.724

N = 1

P = 0.035

N = 3

P = 0.104

Feb

29

N = 23

P = 0.793

N = 6

P = 0.207

N = 4

P = 0.138

N = 18

P = 0.621

N = 2

P = 0.069

N = 3

P = 0.104

Mar

29

N = 23

P = 0.793

N = 6

P = 0.207

N = 3

P = 0.104

N = 18

P = 0.621

N = 2

P = 0.069

N = 4

P = 0.138

April

29

N = 23

P = 0.793

N = 6

P = 0.207

N = 4

P = 0.138

N = 17

P = 0.586

N = 2

P = 0.069

N = 4

P = 0.138

May

29

N = 22

P = 0.759

N = 7

P = 0.241

N = 3

P = 0.104

N = 18

P = 0.621

N = 4

0.138

N = 3

P = 0.104

June

29

N = 23

P = 0.793

N = 6

P = 0.2–7

N = 3

P = 0.104

N = 19

P = 0.655

N = 3

P = 0.104

N = 3

P = 0.104

July

29

N = 23

P = 0.793

N = 6

P = 0.207

N = 4

P = 0.138

N = 18

P = 0.621

N = 2

P = 0.069

N = 4

P = 0.138

Aug

29

N = 23

P = 0.793

N = 6

P = 0.207

N = 4

P = 0.138

N = 17

P = 0.586

N = 3

P = 0.104

N = 4

P = 0.138

Sept

29

N = 24

P = 0.828

N = 5

P = 0.172

N = 3

P = 0.104

N = 19

P = 0.655

N = 0.07

N = 3

P = 0.104

Oct

29

N = 23

P = 0.793

N = 6

P = 0.207

N = 3

P = 0.104

N = 19

P = 0.655

N = 3

P = 0.104

N = 3

P = 0.104

Nov

29

N = 23

P = 0.793

N = 6

P = 0.207

N = 3

P = 0.104

N = 19

P = 0.655

N = 3

P = 0.104

N = 3

P = 0.104

Dec

29

N = 23

P = 0.793

N = 6

P = 0.207

N = 3

P = 0.104

N = 19

P = 0.655

N = 3

P = 0.104

N = 3

P = 0.104