The statement that stock prices do not follow a random walk implies that

(I) successive price changes are independent of each other; (II) successive price changes are positively related; (III) successive price changes are negatively related; (IV) the autocorrelation coefficient is zero

Group of answer choices

A.) (II) only

B.) (III) only

C.) (II) or (III)

D.) (I) only

E.) (I) and (IV) only