Table 12.  Correlation of Market Advisory Service Performance Between Pairs of Non-Overlapping Marketing Years, Corn, Soybeans and 50/50 Revenue, 1995-1998
           
Commodity/
Correlation Measure 1995 vs. 1997   1996 vs. 1998   Average
Corn
     Rank Correlation -0.52 ** 0.14 -0.19
[0.03] [0.52]
     Net Price Correlation -0.68 *** -0.07 -0.38
[0.01] [0.74]
     Return Correlation -0.68 *** -0.09 -0.38
[0.01] [0.68]
Soybeans
     Rank Correlation 0.01 -0.17 -0.08
[0.96] [0.45]
     Net Price Correlation 0.01 -0.27 -0.13
[0.97] [0.23]
     Return Correlation -0.02 -0.27 -0.15
[0.93] [0.25]
Revenue
     Rank Correlation -0.33 -0.16 -0.25
[0.17] [0.48]
     Revenue Correlation -0.56 ** -0.31 -0.43
[0.03] [0.18]
     Return Correlation -0.58 ** -0.32 -0.45
  [0.02]   [0.17]    
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.