Return Series | ADF test with lag = 5 | PP test with lag = 5 | KPSS test with lag = 5 |
Stock | −11.783*** | −28.572*** | 0.138 |
Bond | −10.953*** | −31.442*** | 0.456 |
T-bill | −12.277*** | −30.040*** | 0.257 |