Table 5. Correlation matrix
| Ln(Pax) | Ln(GDP) | KTB_3Y | Ln (KOSPI) | USD |
Ln(GDP) | 0.89*** | 1.00 | | | |
KTB_3Y | -0.76*** | -0.84*** | 1.00 | | |
Ln(KOSPI) | 0.80*** | 0.90*** | -0.60*** | 1.00 | |
USD | -0.20* | -0.02 | -0.13 | -0.28** | 1.00 |
WTI | 0.14 | 0.33*** | 0.06 | 0.57*** | -0.39*** |
CCI | 0.11 | -0.03 | 0.24** | 0.08 | -0.23* |
Employment | 0.42*** | 0.25** | -0.29** | 0.16 | -0.21* |
Sentiment | 0.15 | 0.15 | 0.02 | 0.26** | -0.10 |
PCR | 0.03 | -0.07 | 0.16 | 0.11 | -0.19 |
| WTI | CCI | Employment | Sentiment | |
WTI | 1.00 | | | | |
CCI | 0.12 | 1.00 | | | |
Employment | -0.10 | 0.18 | 1.00 | | |
Sentiment | 0.11 | 0.31** | 0.09 | 1.00 | |
PCR | -0.01 | 0.10 | 0.09 | 0.57*** | |
Notes: indicate significant levels at 10%, 5% and 1%, respectively.