Effect of Ap-Index of Geomagnetic Activity on S&P 500 Stock Market Return

Table 7

Regression Results for Equ. (5), (6) and (8).

	DGD		SMI		SMI
	(5)		(6)		(8)
	Coefficient	p-value	Coefficient	p-value	Coefficient	p-value
Intercept	0.1476	0.7020	-0.0023	0.5216	0.0035	0.3939
SAD	-0.3543	0.5530	0.0056	0.3263
e			-0.0012	0.0523
DGD					-0.0007	0.1923
ILLIQ					-0.0001	0.3811
DGDILLIQ					-0.0001	0.0009
Adj. R-squared	-0.0027		0.0115		0.0585
Obs.	240		240		240