Table 11.  Correlation of Market Advisory Service Performance Between Pairs of Overlapping Marketing Years, Corn, Soybeans and 50/50 Revenue, 1995-1998
               
Commodity/
Correlation Measure 1995 vs. 1996   1996 vs. 1997   1997 vs. 1998   Average
Corn
     Rank Correlation 0.26 -0.04 0.51 ** 0.24
[0.23] [0.85] [0.02]
     Net Price Correlation 0.53 ** -0.28 0.65 *** 0.30
[0.02] [0.20] [0.01]
     Return Correlation 0.52 ** -0.28 0.62 *** 0.29
[0.02] [0.21] [0.01]
Soybeans
     Rank Correlation 0.32 0.05 0.16 0.18
[0.15] [0.81] [0.46]
     Net Price Correlation 0.25 0.17 0.37 * 0.26
[0.26] [0.46] [0.10]
     Return Correlation 0.26 0.17 0.37 0.27
[0.23] [0.45] [0.11]
Revenue
     Rank Correlation 0.33 -0.05 0.17 0.15
[0.13] [0.81] [0.46]
     Revenue Correlation 0.48 -0.28 0.58 ** 0.26
[0.04] ** [0.22] [0.02]
     Return Correlation 0.48 ** -0.27 0.55 ** 0.25
  [0.03]   [0.24]   [0.02]    
Note: Three stars indicates significance at the 1% level, two stars indicates significance at the 5% level, and one star indicates significance at the 10% level.   Return correlations are based on the 24-month average cash price benchmark, with the return for each service computed as the continuously-compounded rate of return (natural logarithm of the ratio of net advisory price to the benchmark price). Figures in brackets are two-tailed p-values.