Consider the data in the 3 waves:

data1 data2 data3
9 5.47 8.4
8.78 5.84 8.8
9.02 5.79 9
8.29 5.33 8.3
8.37 5.49 8.4
9.06 5.18 8.3
8.69 5.67 8.7
8.53 5.53 8.5
8.78 5.75 8.8
9.1 5.88 9.1
8.61 5.95 8.6
9.26 6.24 9.2

We can calculate the (linear) correlation coefficients between the waves and test various hypotheses in one operation. To run the test for waves data1 and data2 execute the command:

StatsLinearCorrelationTest/T=1/Q data1,data2<

The test results are displayed in the Linear Correlation Test table:

n 12
r 0.422481
sr 0.28662
rc1 0.497265
rc2 0.575983
t_Value 1.47401
tc1 1.81246
tc2 2.22814
F 2.46309
Fc1 2.97824
Fc2 3.71679
Power1 0.38787
Power2 0.268562

There are 12 data points in each wave. The correlation coefficient r=0.422481 with a standard error sr. For the hypothesis H0: the correlation coefficient is zero, the t_Value is below the critical value so H0 can't be rejected. On the other hand, if we test data2 and data3 we get different results. To run the test execute the command:

StatsLinearCorrelationTest/T=1/Q data2,data3
n 12
r 0.876562
sr 0.152197
rc1 0.497265
rc2 0.575983
t_Value 5.7594
tc1 1.81246
tc2 2.22814
F 15.2025
Fc1 2.97824
Fc2 3.71679
Power1 0.992761
Power2 0.982695

In this case the correlation coefficient r=0.876562 and both t_Value and the F exceed their respective critical values and H0 must be rejected.

The operation can also test the specific hypothesis ρ=ρ0 agains the alternative ρ!=ρ0. Using the same data as in the last example execute the command:

StatsLinearCorrelationTest/T=1/Q/RHO=0.5 data2,data3
n 12
r 0.876562
sr 0.152197
rc1 0.497265
rc2 0.575983
t_Value 5.7594
tc1 1.81246
tc2 2.22814
F 15.2025
Fc1 2.97824
Fc2 3.71679
FisherZ 1.36073
zeta 0.549306
sigmaZ 0.333333
Zstatistic 2.43427
Zc1 1.64485
Zc2 1.95996
Power1 0.787354
Power2 0.679027

Since the Zstatistic=2.43427 exceeds the two-tailed critical value Zc2=1.95996, H0: ρ=0.5 must be rejected. However, if we test ρ=0.75, we find:

StatsLinearCorrelationTest/T=1/Q/RHO=0.75 data2,data3
n 12
r 0.876562
sr 0.152197
rc1 0.497265
rc2 0.575983
t_Value 5.7594
tc1 1.81246
tc2 2.22814
F 15.2025
Fc1 2.97824
Fc2 3.71679
FisherZ 1.36073
zeta 0.972955
sigmaZ 0.333333
Zstatistic 1.16332
Zc1 1.64485
Zc2 1.95996
Power1 0.317867
Power2 0.210131

In this case Zstatistic=1.16332<Zc2=1.95996 and so H0 can't be rejected.

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