Tuesday, November 24, 2009

Google Trends: Gold

Google Trends: Gold: "Scale is based on the average worldwide traffic of gold in all years"

I am surprised by this given the seemingly endless talk about gold prices. Looking at Google trends on Gold, there is no apparent relationship between volume of searches and changes in gold prices. At least at first pass. In other words I did not check my work at all!

The Dependent variable is Absolute Value of percentage weekly Change in price of GLD, independent variable is the percentage change in searches.

R squared 0.005
N = 260

Coef Stand Error t stat p-value
Intercept 0.023508 0.001184 19.8475 7.44E-54
X Variable 1 0.009991 0.025956 0.384915 0.700618


Regression Statistics

Multiple R 0.023957

R Square 0.000574

Adjusted R Square -0.0033

Standard Error 0.019088

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