Date: 04/21/10   Time: 20:23   
Sample (adjusted): 6 1132   
Included observations: 1127 after adjustments   
Trend assumption: Linear deterministic trend   
Series: RMBPUSD STOCKA     
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 *  0.032647  40.77061  15.49471  0.0000
At most 1  0.002980  3.363834  3.841466  0.0666
   
Trace test indicates 1 cointegrating eqn(s) 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 *  0.032647  37.40677  14.26460  0.0000
At most 1  0.002980  3.363834  3.841466  0.0666
   
Max-eigenvalue test indicates 1 cointegrating eqn(s) 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):     
   
RMBPUSD STOCKA   
1.280444  0.000841   
1.699661 -0.000223   
   
   
Unrestricted Adjustment Coefficients (alpha):     
   
D(RMBPUSD) -0.001040  1.47E-05  
D(STOCKA)  1.237318  3.749471  
   
   
1 Cointegrating Equation(s):   Log likelihood -2138.558
   
Normalized cointegrating coefficients (standard error in parentheses)   
RMBPUSD STOCKA   
1.000000  0.000657   
  (0.00010)   
   
Adjustment coefficients (standard error in parentheses)   
D(RMBPUSD) -0.001331   
  (0.00022)   
D(STOCKA)  1.584316   
  (2.64394)