**Diagnostic test of Generalised error distribution for serial correlation**

**A.5 The presence of fat tail confirm heteroscedasticity of the GARCH**

**Autocorrelation Partial Correlation AC PAC Q-Stat Prob**\* .|. | .|. | 19 0.041 0.030 9.4252 0.966 .|. | .|. | 20 0.039 0.027 9.8406 0.971 .|. | .|. | 21 0.024 0.015 10.000 0.979 .|. | .|. | 22 0.040 0.046 10.438 0.982 .|. | .|. | 23 0.056 0.065 11.286 0.980 .|\* | .|\* | 24 0.148 0.155 17.255 0.838 .|. | .|. | 25 0.051 0.036 17.956 0.844 .|. | .|\* | 26 0.068 0.102 19.242 0.826 \*|. | \*|. | 27 0.076 0.091 20.830 0.794 .|. | .|. | 28 0.030 0.031 21.072 0.822 .|\* | .|\* | 29 0.163 0.127 28.470 0.493 .|. | .|. | 30 0.019 0.006 28.572 0.540 .|. | .|. | 31 0.051 0.064 29.312 0.553 .|. | .|. | 32 0.010 0.046 29.343 0.602 .|. | .|. | 33 0.016 0.035 29.417 0.646 .|. | .|. | 34 0.067 0.065 30.701 0.630 \*|. | \*|. | 35 0.077 0.113 32.379 0.595 .|. | .|. | 36 0.009 0.021 32.402 0.640

*Volatility Effects of the Global Oil Price on Stock Price in Nigeria: Evidence from Linear…*

**process**

\*no serial correlation since p-values >0.05%

*DOI: http://dx.doi.org/10.5772/intechopen.93497*

**Conflict of interest**

**187**

The author declares no conflict of interest.



*Volatility Effects of the Global Oil Price on Stock Price in Nigeria: Evidence from Linear… DOI: http://dx.doi.org/10.5772/intechopen.93497*

\*no serial correlation since p-values >0.05%
