The variance-ratio (VR) test statistic, which is based on k-period differences of the data, is commonly used in empirical finance and economics to test the random walk hypothesis. We obtain the ...

Daniel Jassy, CFA, is an Investopedia Academy instructor and the founder of SPYderCRusher Research. He contributes to Excel and Algorithmic Trading. David Kindness is a Certified Public Accountant ...

While there are formulas and tools for performing simple functions like addition, subtraction, multiplication, etc. in Excel, exponential calculations could be a little complicated. There is no ...