| Term | Coeff | SE | t-stat | P-Value |
| ar1 | −0.16 | 0.10 | −1.64 | 0.10 |
| ar2 | 0.20 | 0.10 | 2.14 | 0.03 |
| ar3 | 0.35 | 0.10 | 3.55 | 0.00 |
| intercept | 178,540 | 4103.90 | 43.50 | 0.00 |
| Zt | 6052 | 3663.60 | 1.65 | 0.10 |
| Zt2 | 3763 | 1663.70 | 2.26 | 0.02 |
| Zt3 | 11,731 | 1772.80 | 6.62 | 0.00 |
| DFeb | −15,770 | 5431.90 | −2.90 | 0.00 |
| DMar | 9228 | 4707.30 | 1.96 | 0.05 |
| DApr | −7972 | 4362.70 | −1.83 | 0.07 |
| DMay | 793 | 5191.00 | 0.15 | 0.88 |
| DJun | −11,732 | 4862.10 | −2.41 | 0.02 |
| DJul | −1369 | 4739.50 | −0.29 | 0.77 |
| DAug | −4392 | 4763.40 | −0.92 | 0.36 |
| DSep | −1814 | 5019.50 | −0.36 | 0.72 |
| DOct | 1863 | 4253.80 | 0.44 | 0.66 |
| DNov | −6755 | 4559.50 | −1.48 | 0.14 |
| DDec | −26,473 | 5427.20 | −4.88 | 0.00 |
| D9_11 | −12,800 | 4694.60 | −2.73 | 0.01 |