Part of the course Financial Time Series Analysis for Trading.
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Timecodes
0:00 - Title
0:14 - What is Time Series?
0:59 - Examples of Time Series
1:09 - What is Not a Time Series?
2:02 - End
Welcome to this video lesson on introduction to time series.
After completing this, you will be able to describe a time series. Also, you will explain what is not a time series.
What is time series?
A perfect example of a time series is the closing price of stocks. This is the daily closing price of Apple stock. One column contains the time element. Another column contains the values. In this case, it is the closing price. This data can also be plotted to visualize the time series. The x-axis consists of the trading days while the y-axis consists of closing price.
In this time series, the data interval is daily. This interval can be seconds, minutes, hours, days or even years. The time series is always sequential in nature.
Can you think of a time series which you have come across? The following are some examples of time series.
It is also important to learn what is not time series. The screen shows the data of Apple iPhone price and the share price when it was launched. Is this a time series?
You might have answered that correctly. We are trying to compare the product price of an iPhone with the share price of Apple. Time is not a variable here and hence, this is not a time series.
The screen shows all the tweet time and tweet for Tesla from April to July, 2020. Do you think this is a time series?
While it looks like a time series, it is actually not. A time series should be recorded at fixed intervals of time. The tweets are event-based. They are dependent upon when someone tweets about it. Therefore, the time difference between consecutive tweet is not constant but random.
In the next section, you will learn the importance of time series analysis.
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