数据都是一阶单整的,这个是协整检验后的结果:
Date: 03/21/10   Time: 00:10    
Sample (adjusted): 6 394    
Included observations: 389 after adjustments    
Trend assumption: Linear deterministic trend    
Series: SHANDONG GOLD_PRICE     
Lags interval (in first differences): 1 to 4    
    
Unrestricted Cointegration Rank Test (Trace)    
    
Hypothesized  Trace 0.05 
No. of CE(s) Eigenvalue Statistic Critical Value Prob.**
    
None  0.022346  9.670995  15.49471  0.3069
At most 1  0.002260  0.879998  3.841466  0.3482
    
 Trace test indicates no cointegration at the 0.05 level    
 * denotes rejection of the hypothesis at the 0.05 level    
 **MacKinnon-Haug-Michelis (1999) p-values    
    
Unrestricted Cointegration Rank Test (Maximum Eigenvalue)    
    
Hypothesized  Max-Eigen 0.05 
No. of CE(s) Eigenvalue Statistic Critical Value Prob.**
    
None  0.022346  8.790998  14.26460  0.3040
At most 1  0.002260  0.879998  3.841466  0.3482
    
 Max-eigenvalue test indicates no cointegration at the 0.05 level    
 * denotes rejection of the hypothesis at the 0.05 level    
 **MacKinnon-Haug-Michelis (1999) p-values    
    
 Unrestricted Cointegrating Coefficients (normalized by b'*S11*b=I):     
    
SHANDONG GOLD_PRICE   
-0.114876  0.013007   
 0.001408  0.008727   
    
    
 Unrestricted Adjustment Coefficients (alpha):     
    
D(SHANDONG)  0.415492 -0.006392  
D(GOLD_PRICE)  0.299633 -0.706946  
    
    
1 Cointegrating Equation(s):   Log likelihood -2544.753 
    
Normalized cointegrating coefficients (standard error in parentheses)    
SHANDONG GOLD_PRICE   
 1.000000 -0.113225   
  (0.02628)   
    
Adjustment coefficients (standard error in parentheses)    
D(SHANDONG) -0.047730   
  (0.01624)   
D(GOLD_PRICE) -0.034421   
  (0.08853)   
    
请问这表示什么?