Table 4.

Descriptive statistics of the CNN values, historical oil price, DJI, GDP, and oil price datasets.

	CNN	Historical oil price	DJI	GDP	Oil price
Mean	0.5099	52.5055	25139.47	18627.88	51.9398
Median	0.5112	54.8	25396.24	18696.71	54.8
Std. Dev.	0.0046	16.0557	304.6084	88.0079	16.5658
Skewness	−0.3799	−1.3844	−0.3707	−1.6744	−1.2559
Kurtosis	0.2140	1.6120	−0.2720	4.6609	1.0222
Jarque-Bera	0.8936	14.5199∗∗∗	1.0959	43.3310∗∗∗	10.6770∗∗
Augmented Dickey-Fuller	−4.8209∗∗∗	−1.3072	−2.1983	−1.8139	−1.4594

Note: ∗, ∗∗, ∗∗∗represent significance at the 10%, 5%, 1% levels, respectively.