TABLE 1.
Descriptive statistics.
| IBER | SPD | SPC | LSER | UKC | UKD | SPR | USC | |
| Mean | −0.41737 | 147.2222 | 1463.792 | −0.08997 | 621.2083 | 71.70833 | −0.28187 | 3658.956 |
| Skewness | −1.68003 | 1.687765 | 1.641313 | 0.027343 | 2.392073 | 3.081854 | −0.35422 | 2.186996 |
| Kurtosis | 10.36907 | 4.166164 | 4.206693 | 4.903565 | 7.778953 | 11.75376 | 5.380136 | 6.389965 |
| Jarque.Bera | 196.7798 | 38.26244 | 36.69524 | 10.87966 | 137.1793 | 343.8589 | 17.47298 | 86.76708 |
| Probability | 0 | 0 | 0 | 0.00434 | 0 | 0 | 0.000161 | 0 |
| USD | NR | GERC | GERD | DAXR | ITLD | ITLC | FTMR | |
| Mean | 109.3088 | −0.18523 | 1446.396 | 30.54717 | −0.42086 | 174.9577 | 1365.254 | −0.40245 |
| Skewness | 2.927378 | −0.53985 | 1.120857 | 2.230936 | −0.65869 | 1.232889 | 1.058817 | −2.31595 |
| Kurtosis | 10.43888 | 5.59924 | 2.573906 | 7.120135 | 7.135106 | 2.868864 | 2.472667 | 14.04434 |
| Jarque.Bera | 253.9095 | 22.44518 | 11.49843 | 81.45175 | 41.59309 | 18.03773 | 14.08892 | 424.3192 |
| Probability | 0 | 0.000013 | 0.003185 | 0 | 0 | 0.000121 | 0.000872 | 0 |
Source: Author’s calculation.