Testing of correlation coefficients

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tpk1001
Posts: 4
Joined: Fri Sep 20, 2013 2:34 pm

Testing of correlation coefficients

Postby tpk1001 » Fri Oct 09, 2015 3:50 pm

Hello,

I am wondering if there is any way to test the significance of the correlation coefficients provided in the eviews cross-correlogram (I understand the asterisks are a proxy for this).
It seems this is not possible in eviews 7 which I am using. If that's the case can I use the following test instead? http://vassarstats.net/textbook/ch4apx.html.
A second - more general question. Is there any rule on what is a strong or weak correlation? The above test will only tell me whether the coefficient is relevant on a certain significance level
but I also need to assess the level of correlation.

Thanks for your help.

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