DEUXIEME PARTIE
ETUDES EMPIRIQUES
CHAPITRE 3 : PRESENTATION DES RESULTATS
4-1- STATISTIQUE DESCRIPTIBLE DES COURS DES ACTIONS A LA
BOURSE DE NAIROBI
Tableau n°1 : statistique
descriptible des rendements de chaque action
|
KN_ARM01
|
KN_BAM01
|
KN_BAT01
|
KN_BAU01
|
KN_BBK01
|
KN_BBO01
|
KN_BOC01
|
|
Mean
|
0.000554
|
0.000585
|
0.000878
|
-0.000653
|
0.000480
|
-0.000424
|
0.000310
|
|
Median
|
0.000000
|
0.000000
|
0.000000
|
0.000000
|
0.000000
|
0.000000
|
0.000000
|
|
Maximum
|
0.287682
|
0.745594
|
0.274845
|
0.099789
|
0.230815
|
0.172752
|
0.438255
|
|
Minimum
|
-0.405465
|
-0.723453
|
-0.415828
|
-0.532374
|
-0.233226
|
-0.211309
|
-0.438255
|
|
Std. Dev.
|
0.036387
|
0.037032
|
0.029066
|
0.018141
|
0.021104
|
0.016090
|
0.022048
|
|
Skewness
|
-1.265673
|
-0.066719
|
-2.073376
|
-18.12309
|
-0.556416
|
-2.727496
|
0.084859
|
|
Kurtosis
|
25.05385
|
216.3839
|
69.93598
|
512.0584
|
38.39368
|
60.31471
|
214.6269
|
|
|
|
|
|
|
|
|
|
Jarque-Bera
|
30737.16
|
2840103.
|
280539.1
|
16245835
|
78215.19
|
206756.5
|
2793526.
|
|
Probability
|
0.000000
|
0.000000
|
0.000000
|
0.000000
|
0.000000
|
0.000000
|
0.000000
|
|
|
|
|
|
|
|
|
|
Observations
|
1497
|
1497
|
1497
|
1497
|
1497
|
1497
|
1497
|
|
KN_CAG01
|
KN_CAR01
|
KN_CBE01
|
KN_CFC01
|
KN_CMC01
|
KN_CTR01
|
KN_DTK01
|
|
Mean
|
-0.000482
|
0.000334
|
0.000709
|
0.000322
|
0.000518
|
-0.000319
|
0.000282
|
|
Median
|
0.000000
|
0.000000
|
0.000000
|
0.000000
|
0.000000
|
0.000000
|
0.000000
|
|
Maximum
|
0.636866
|
0.476924
|
0.799757
|
0.597837
|
0.403822
|
0.784119
|
0.371564
|
|
Minimum
|
-0.612295
|
-0.494019
|
-0.305382
|
-0.162519
|
-0.289466
|
-0.644357
|
-0.346871
|
|
Std. Dev.
|
0.027054
|
0.027093
|
0.035664
|
0.023751
|
0.027458
|
0.034994
|
0.025269
|
|
Skewness
|
-1.976949
|
-0.171751
|
7.812266
|
10.31217
|
2.970141
|
2.906305
|
-0.025065
|
|
Kurtosis
|
428.1967
|
154.7014
|
188.7453
|
277.3715
|
79.67279
|
313.4958
|
63.99702
|
|
|
|
|
|
|
|
|
|
Jarque-Bera
|
11277891
|
1435462.
|
2167247.
|
4722105.
|
368886.0
|
6015533.
|
232074.8
|
|
Probability
|
0.000000
|
0.000000
|
0.000000
|
0.000000
|
0.000000
|
0.000000
|
0.000000
|
|
|
|
|
|
|
|
|
|
Observations
|
1497
|
1497
|
1497
|
1497
|
1497
|
1497
|
1497
|
|
KN_DUN01
|
KN_EAC01
|
KN_EAP01
|
KN_EGA01
|
KN_EPT01
|
KN_EXP01
|
KN_FIR01
|
|
Mean
|
-0.001583
|
-0.000585
|
-0.001090
|
-0.000567
|
0.000378
|
-0.001179
|
-0.000529
|
|
Median
|
0.000000
|
0.000000
|
0.000000
|
0.000000
|
0.000000
|
0.000000
|
0.000000
|
|
Maximum
|
1.576432
|
2.280924
|
0.471509
|
0.217723
|
0.530628
|
0.202941
|
0.493658
|
|
Minimum
|
-1.602749
|
-2.324726
|
-1.064711
|
-0.571450
|
-0.798508
|
-0.619039
|
-0.506561
|
|
Std. Dev.
|
0.076351
|
0.089168
|
0.037344
|
0.018043
|
0.035130
|
0.021957
|
0.030612
|
|
Skewness
|
-4.696071
|
-0.503485
|
-16.46420
|
-20.09338
|
-5.518331
|
-15.64817
|
-0.618088
|
|
Kurtosis
|
368.6430
|
596.7231
|
487.0766
|
695.1308
|
224.8131
|
435.3254
|
107.6738
|
|
|
|
|
|
|
|
|
|
Jarque-Bera
|
8344716.
|
21987697
|
14683976
|
29981170
|
3076513.
|
11719311
|
683513.6
|
|
Probability
|
0.000000
|
0.000000
|
0.000000
|
0.000000
|
0.000000
|
0.000000
|
0.000000
|
|
|
|
|
|
|
|
|
|
Observations
|
1497
|
1497
|
1497
|
1497
|
1497
|
1497
|
1497
|
|
KN_HFC01
|
KN_ICD01
|
KN_JUB01
|
KN_KAK01
|
KN_KAP01
|
KN_KBL01
|
KN_KCB01
|
|
Mean
|
-0.000212
|
0.000396
|
0.000237
|
-0.001023
|
0.000271
|
0.001312
|
-0.000386
|
|
Median
|
0.000000
|
0.000000
|
0.000000
|
0.000000
|
0.000000
|
0.000000
|
0.000000
|
|
Maximum
|
0.422857
|
1.861324
|
0.201422
|
0.145182
|
0.145954
|
0.127833
|
0.448694
|
|
Minimum
|
-0.405465
|
-1.888680
|
-0.271153
|
-0.361700
|
-0.314811
|
-0.174991
|
-0.439032
|
|
Std. Dev.
|
0.038008
|
0.072193
|
0.020903
|
0.022401
|
0.011854
|
0.019937
|
0.037107
|
|
Skewness
|
-0.122697
|
-0.513126
|
-0.778863
|
-4.303328
|
-7.027802
|
-0.472334
|
0.675329
|
|
Kurtosis
|
33.68705
|
609.1244
|
34.90016
|
70.95796
|
401.5013
|
17.34628
|
50.24087
|
|
|
|
|
|
|
|
|
|
Jarque-Bera
|
58741.98
|
22915814
|
63625.42
|
292685.9
|
9917676.
|
12893.43
|
139316.0
|
|
Probability
|
0.000000
|
0.000000
|
0.000000
|
0.000000
|
0.000000
|
0.000000
|
0.000000
|
|
|
|
|
|
|
|
|
|
Observations
|
1497
|
1497
|
1497
|
1497
|
1497
|
1497
|
1497
|
|
KN_KEL01
|
KN_KOR01
|
KN_KPL01
|
KN_LIM01
|
KN_MAR01
|
KN_NBK01
|
KN_NIC01
|
|
Mean
|
0.001424
|
-0.000424
|
-0.000805
|
0.000304
|
-0.001028
|
-7.95E-05
|
-0.000205
|
|
Median
|
0.000000
|
0.000000
|
0.000000
|
0.000000
|
0.000000
|
0.000000
|
0.000000
|
|
Maximum
|
0.270335
|
0.058269
|
0.772584
|
1.098597
|
1.317301
|
0.302281
|
1.779337
|
|
Minimum
|
-0.236401
|
-0.693147
|
-0.748043
|
-0.485508
|
-1.299283
|
-0.398030
|
-1.779337
|
|
Std. Dev.
|
0.020150
|
0.017979
|
0.042029
|
0.031321
|
0.066736
|
0.040476
|
0.071593
|
|
Skewness
|
1.698332
|
-38.22296
|
0.648278
|
26.25269
|
-4.425250
|
-0.277401
|
-0.026123
|
|
Kurtosis
|
57.30743
|
1474.171
|
152.1546
|
1050.479
|
320.3184
|
16.15699
|
511.3803
|
|
|
|
|
|
|
|
|
|
Jarque-Bera
|
184682.0
|
1.35E+08
|
1387767.
|
68610589
|
6285484.
|
10816.71
|
16120853
|
|
Probability
|
0.000000
|
0.000000
|
0.000000
|
0.000000
|
0.000000
|
0.000000
|
0.000000
|
|
|
|
|
|
|
|
|
|
Observations
|
1497
|
1497
|
1497
|
1497
|
1497
|
1497
|
1497
|
|
KN_NMG01
|
KN_PAN01
|
KN_SAS01
|
KN_SCB01
|
KN_SNG01
|
KN_TOT01
|
KN_TPS01
|
|
Mean
|
0.000188
|
-0.000394
|
-0.000684
|
0.001005
|
-0.000463
|
-7.74E-05
|
0.000411
|
|
Median
|
0.000000
|
0.000000
|
0.000000
|
0.000000
|
0.000000
|
0.000000
|
0.000000
|
|
Maximum
|
1.442109
|
0.423814
|
2.181632
|
0.862706
|
2.639057
|
0.944855
|
0.890973
|
|
Minimum
|
-1.420448
|
-0.550046
|
-2.181632
|
-0.871839
|
-2.667228
|
-1.032708
|
-0.864997
|
|
Std. Dev.
|
0.069142
|
0.030603
|
0.082063
|
0.039795
|
0.126801
|
0.047698
|
0.038477
|
|
Skewness
|
-2.292585
|
-2.904346
|
0.032916
|
0.467896
|
-0.475631
|
-1.344780
|
0.437723
|
|
Kurtosis
|
291.1597
|
140.7506
|
668.3294
|
314.9135
|
299.7787
|
256.5381
|
365.4357
|
|
|
|
|
|
|
|
|
|
Jarque-Bera
|
5180684.
|
1185685.
|
27611122
|
6068522.
|
5493897.
|
4010014.
|
8193606.
|
|
Probability
|
0.000000
|
0.000000
|
0.000000
|
0.000000
|
0.000000
|
0.000000
|
0.000000
|
|
|
|
|
|
|
|
|
|
Observations
|
1497
|
1497
|
1497
|
1497
|
1497
|
1497
|
1497
|
|
KN_UCH01
|
KN_UNG01
|
KN_VIP01
|
MARKET
|
|
Mean
|
-0.000347
|
-0.000233
|
-0.000392
|
0.001610
|
|
Median
|
0.000000
|
0.000000
|
0.000000
|
0.000000
|
|
Maximum
|
0.548898
|
1.791698
|
0.318454
|
0.628299
|
|
Minimum
|
-1.040648
|
-1.609438
|
-0.277632
|
-0.388616
|
|
Std. Dev.
|
0.049473
|
0.090440
|
0.036032
|
0.020760
|
|
Skewness
|
-6.001794
|
0.044124
|
0.176649
|
14.11547
|
|
Kurtosis
|
171.9085
|
211.9674
|
20.14281
|
643.3768
|
|
|
|
|
|
|
Jarque-Bera
|
1788552.
|
2721934.
|
18338.30
|
25645721
|
|
Probability
|
0.000000
|
0.000000
|
0.000000
|
0.000000
|
|
|
|
|
|
|
Observations
|
1497
|
1496
|
1497
|
1498
|
Source : Réalisé à
partir des données du marché boursier et monétaire
| 
