Cointegrated Variable | Hypothesized No. of CE(s) | Eigenvalue | Trace Statistic | 0.5 Critical Value | Prob. |
Stock Index, Interest Rates, REER, Copper Price and Oil Price | None | 0.2369 | 80.666 | 69.818 | 0.005 |
At most 1 | 0.1044 | 41.986 | 47.856 | 0.159 | |
At most 2 | 0.0992 | 26.217 | 29.797 | 0.122 | |
At most 3 | 0.0757 | 11.277 | 15.494 | 0.195 | |
At most 4 | 4.94805 | 0.0070 | 3.8414 | 0.932 |