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Built a scatterplot for the Standard and Poor's/Toronto Stock Exchange Index time series and compute the correlation coefficient and coefficient of determination. Explain the results

Built a scatterplot for the Standard and Poor's/Toronto Stock Exchange Index time series and compute the correlation coefficient and coefficient of determination. Explain the results of these coefficients in the context of the problem.

Toronto Stock Exchange Statistics Standard and Poor's/Toronto Stock Exchange Composite Index Standard and Poor's/Toronto Stock Exchange 60 Index
Reference period
Index
Jan-98 6,700.20 381.23
Feb-98 7,092.49 406.82
Mar-98 7,558.50 435.32
Apr-98 7,664.99 440.34
May-98 7,589.78 441.02
Jun-98 7,366.89 427.01
Jul-98 6,931.43 400.51
Aug-98 5,530.71 318.75
Sep-98 5,614.12 321.55
Oct-98 6,208.28 359.99
Nov-98 6,343.87 369.21
Dec-98 6,485.94 375.98
Jan-99 6,729.56 396.87
Feb-99 6,312.69 368.25
Mar-99 6,597.79 384.98
Apr-99 7,014.70 410.85
May-99 6,841.80 400.07
Jun-99 7,010.07 411.04
Jul-99 7,081.03 415.1
Aug-99 6,970.81 407.32
Sep-99 6,957.72 408.54
Oct-99 7,256.22 433.85
Nov-99 7,523.23 447.29
Dec-99 8,413.75 495.86
Jan-00 8,481.11 498.59
Feb-00 9,128.99 519.93
Mar-00 9,462.39 568.89
Apr-00 9,347.61 559.86
May-00 9,251.99 556.35
Jun-00 10,195.45 617.91
Jul-00 10,406.31 638.35
Aug-00 11,247.91 687.08
Sep-00 10,377.92 618.28
Oct-00 9,639.57 569.28
Nov-00 8,819.92 525.33
Dec-00 8,933.68 528.72
Jan/2001 9,321.87 554.84
Feb/2001 8,078.72 472.6
Mar/2001 7,608.00 443.04
Apr/2001 7,946.63 459
May/2001 8,161.87 471.09
Jun/2001 7,736.35 444.84
Jul/2001 7,689.69 445.15
Aug/2001 7,399.22 430.33
Sep/2001 6,838.56 398.2
Oct/2001 6,885.70 397.55
Nov/2001 7,425.65 431.78
Dec/2001 7,688.41 442.55
Jan/2002 7,648.49 438.92
Feb/2002 7,637.50 436.48
Mar/2002 7,851.47 446.74
Apr/2002 7,663.39 434.04
May/2002 7,656.13 429.17
Jun/2002 7,145.61 401.2
Jul/2002 6,605.42 371.06
Aug/2002 6,611.95 371.8
Sep/2002 6,180.42 345.06
Oct/2002 6,248.79 351.36
Nov/2002 6,570.42 372.63
Dec/2002 6,614.54 373.15
Jan/2003 6,569.49 370.48
Feb/2003 6,555.12 371.97
Mar/2003 6,343.29 361.23
Apr/2003 6,586.07 373.94
May/2003 6,859.80 388.11
Jun/2003 6,983.14 394.63
Jul/2003 7,257.92 409.03
Aug/2003 7,510.32 423.28
Sep/2003 7,421.13 416.58
Oct/2003 7,772.70 436.2
Nov/2003 7,859.39 438.25
Dec/2003 8,220.89 458.72
Jan/2004 8,521.39 476.64
Feb/2004 8,788.49 490.59
Mar/2004 8,585.93 475.59
Apr/2004 8,243.97 455.87
May/2004 8,417.32 463.61
Jun/2004 8,545.58 472.78
Jul/2004 8,458.07 469.34
Aug/2004 8,377.03 465.48
Sep/2004 8,668.29 482.19
Oct/2004 8,870.97 496.37
Nov/2004 9,030.05 501.18
Dec/2004 9,246.65 511.91
Jan/2005 9,204.05 506.75
Feb/2005 9,668.32 532.08
Mar/2005 9,612.38 533.87
Apr/2005 9,369.30 522.02
May/2005 9,607.30 536.89
Jun/2005 9,902.77 555.06
Jul/2005 10,422.93 585.02
Aug/2005 10,668.94 600.4
Sep/2005 11,011.83 620.04
Oct/2005 10,383.32 585.55
Nov/2005 10,824.14 611.09
Dec/2005 11,272.26 634.72
Jan/2006 11,945.64 672.69
Feb/2006 11,688.34 659.27
Mar/2006 12,110.61 682.54
Apr/2006 12,204.17 685.33
May/2006 11,744.52 657.38
Jun/2006 11,612.87 653.46
Jul/2006 11,830.96 667.43
Aug/2006 12,073.75 682.21
Sep/2006 11,761.27 673.16
Oct/2006 12,344.59 703.41
Nov/2006 12,752.38 732.35
Dec/2006 12,908.39 742.77
Jan/2007 13,034.12 747.47
Feb/2007 13,045.02 743.77
Mar/2007 13,165.50 752.45
Apr/2007 13,416.68 765.35
May/2007 14,056.78 804.47
Jun/2007 13,906.57 799.7
Jul/2007 13,868.63 799.42
Aug/2007 13,660.48 793.37
Sep/2007 14,098.89 817.39
Oct/2007 14,625.00 848.82
Nov/2007 13,689.12 798.5
Dec/2007 13,833.06 808.53
Jan/2008 13,155.10 772.56
Feb/2008 13,582.69 795.23
Mar/2008 13,350.13 783.44
Apr/2008 13,937.04 825.91
May/2008 14,714.73 878.42
Jun/2008 14,467.03 863.19
Jul/2008 13,592.91 811.73
Aug/2008 13,771.25 821.69
Sep/2008 11,752.90 707.34
Oct/2008 9,762.76 591.28
Nov/2008 9,270.62 563.09
Dec/2008 8,987.70 541.82
Jan/2009 8,694.90 523.28
Feb/2009 8,123.02 489.56
Mar/2009 8,720.39 528.68
Apr/2009 9,324.83 565.38
May/2009 10,370.07 632.47
Jun/2009 10,374.91 630.06
Jul/2009 10,787.15 654.56
Aug/2009 10,868.21 652.78
Sep/2009 11,394.96 680.75
Oct/2009 10,910.75 647.72
Nov/2009 11,447.20 680.26
Dec/2009 11,746.11 693.23
Jan/2010 11,094.31 648.53
Feb/2010 11,629.63 680.76
Mar/2010 12,037.73 706.81
Apr/2010 12,210.70 716.05
May/2010 11,762.99 691.63
Jun/2010 11,294.42 662.05
Jul/2010 11,713.43 685.03
Aug/2010 11,913.86 694.05
Sep/2010 12,368.65 715.07
Oct/2010 12,676.24 728.09
Nov/2010 12,952.88 741.34
Dec/2010 13,443.22 768.65
Jan/2011 13,551.99 778.65
Feb/2011 14,136.50 813.29
Mar/2011 14,116.10 810.86
Apr/2011 13,944.79 797.9
May/2011 13,802.88 789.12
Jun/2011 13,300.87 763.9
Jul/2011 12,945.63 733.3
Aug/2011 12,768.70 728.2
Sep/2011 11,623.84 667.08
Oct/2011 12,252.06 698.04
Nov/2011 12,204.11 695.49
Dec/2011 11,955.09 680.87
Jan/2012 12,452.15 709.18
Feb/2012 12,644.01 718.86
Mar/2012 12,392.18 706.96
Apr/2012 12,292.69 699.79
May/2012 11,513.21 656.5
Jun/2012 11,596.56 663.62
Jul/2012 11,664.71 665.46
Aug/2012 11,949.26 683.47
Sep/2012 12,317.46 702.87
Oct/2012 12,422.91 711.58
Nov/2012 12,239.36 702.59
Dec/2012 12,433.53 713.72
Jan/2013 12,685.24 727.76
Feb/2013 12,821.83 738.55
Mar/2013 12,749.90 731.34
Apr/2013 12,456.50 710.71
May/2013 12,650.42 726.27
Jun/2013 12,129.11 695.52
Jul/2013 12,486.64 714.68
Aug/2013 12,653.90 727.13
Sep/2013 12,787.20 732.89
Oct/2013 13,361.26 767.47
Nov/2013 13,395.40 771.86
Dec/2013 13,621.55 783.75
Jan/2014 13,694.94 785.53
Feb/2014 14,209.59 813.25
Mar/2014 14,335.31 820.51
Apr/2014 14,651.87 837.58
May/2014 14,604.16 836.6
Jun/2014 15,146.01 866.04
Jul/2014 15,330.74 884.33
Aug/2014 15,625.73 898.26
Sep/2014 14,960.51 864.24
Oct/2014 14,613.32 849.5
Nov/2014 14,744.70 863.04
Dec/2014 14,632.44 854.85
Jan/2015 14,673.48 857.34
Feb/2015 15,234.34 890.4
Mar/2015 14,902.44 869.28
Apr/2015 15,224.52 886.56
May/2015 15,014.09 875.04
Jun/2015 14,553.33 847.78
Jul/2015 14,468.44 853.4
Aug/2015 13,859.12 815.45
Sep/2015 13,306.96 784.51
Oct/2015 13,529.17 794.49
Nov/2015 13,469.83 791.8
Dec/2015 13,009.95 764.54
Jan/2016 12,822.13 754.85
Feb/2016 12,860.35 755.27
Mar/2016 13,494.36 790.93
Apr/2016 13,951.45 815.46
May/2016 14,065.78 821.06
Jun/2016 14,064.54 817.65
Jul/2016 14,582.74 847.4
Aug/2016 14,597.95 851.38
Sep/2016 14,725.86 858.47
Oct/2016 14,787.27 868.38
Nov/2016 15,082.85 888.3
Dec/2016 15,287.59 900.05
Jan/2017 15,385.96 909.19
Feb/2017 15,399.24 907.57
Mar/2017 15,547.75 915.58
Apr/2017 15,586.13 918.9
May/2017 15,349.91 906.38
Jun/2017 15,182.19 892.65
Jul/2017 15,143.87 891.19
Aug/2017 15,211.87 892.56
Sep/2017 15,634.94 921.79
Oct/2017 16,025.59 947.17
Nov/2017 16,067.48 952.04
Dec/2017 16,209.13 959.69
Jan/2018 15,951.67 944.41
Feb/2018 15,442.68 913.9
Mar/2018 15,367.29 908.99
Apr/2018 15,607.88 921.43
May/2018 16,061.50 950.45
Jun/2018 16,277.73 965.32
Jul/2018 16,434.01 979.38
Aug/2018 16,262.88 965.73
Sep/2018 16,073.14 952.28
Oct/2018 15,027.28 895.08
Nov/2018 15,197.82 913.29
Dec/2018 14,322.86 859.32
Jan/2019 15,540.60 929.25
Feb/2019 15,999.01 953.91
Mar/2019 16,102.09 959.5
Apr/2019 16,580.73 994.53
May/2019 16,037.49 961.89
Jun/2019 16,382.20 979.6
Jul/2019 16,406.56 979.73
Aug/2019 16,442.07 982.45
Sep/2019 16,658.63 997.93
Oct/2019 16,483.16 986.33
Nov/2019 17,040.20 1,018.62
Dec/2019 17,063.43 1,014.92
Jan/2020 17,318.49 1,032.97
Feb/2020 16,263.05 972.15
Mar/2020 13,378.75 819.89
Apr/2020 14,780.74 891.63
May/2020 15,192.83 917.17
Jun/2020 15,515.22 934.21
Jul/2020 16,169.20 968.67
Aug/2020 16,514.44 990.52
Sep/2020 16,121.38 967.27
Oct/2020 15,580.64 928.9
Nov/2020 17,190.25 1,023.52
Dec/2020 17,433.36 1,034.76
Jan/2021 17,337.02 1,026.60
Feb/2021 18,060.26 1,073.42
Mar/2021 18,700.67 1,117.15
Apr/2021 19,108.33 1,138.85
May/2021 19,730.99 1,180.14
Jun/2021 20,165.58 1,209.15
Jul/2021 20,287.80 1,216.15
Aug/2021 20,582.94 1,231.33
Sep/2021 20,070.25 1,203.34
Oct/2021 21,037.07 1,265.19
Nov/2021 20,659.99 1,248.56
Dec/2021 21,222.84 1,286.86
Jan/2022 21,098.29 1,281.96
Feb/2022 21,126.36 1,278.42
Mar/2022 21,890.16 1,322.67
Apr/2022 20,762.00 1,255.54
May/2022 20,729.34 1,254.79
Jun/2022 18,861.36 1,146.43
Jul/2022 19,692.92 1,187.97

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