The Journal of Quantitative Fruitomics
2024, Vol. 116, No. 8, 813-838

Copyleft 2024 by National Institute for Fruit Economics
S3866-6258(5901)3757-2 DOI: 14.1979/732068374175

Fruit-Fueled Fortunes: The Correlation between Annual US Household
Spending on Fresh Fruits and Canadian National Railway Company's
Stock Price
Chloe Harrison, Alice Tate, George P Tillman
Institute of Global Studies

The age-old question of whether fresh fruits can have an impact on the stock market comes to the forefront in this study. Utilizing data from the Bureau ofLabor Statistics and LSEG Analytics (Refinitiv), our research team set out to determine if there was any meaningful connection between annual US
household spending on fresh fruits and the stock price of the Canadian National Railway Company (CNI). We crunched the numbers from 2002 to 2022 anduncovered a correlation coefficient of 0.9857967 and a p-value less than 0.01, indicating a strong and statistically significant relationship between these
seemingly unrelated variables. A peach of a finding, our research suggests that the more the American households spend on fresh fruits, the higher the stock
price of Canadian National Railway Company tends to be. It seems like the old saying of "an apple a day keeps the doctor away" may extend to "a grapefruit
a day keeps the stock market at bay," for investors and consumers alike. Our results shed light on the potential interplay between consumer behavior andstock performance, with bananas and blueberries potentially becoming new barometers of market trends. Overall, our findings indicate that there may be
more to the market than meets the eye, and it might just be fruit salad. This research opens up the floodgates to a melon-cholic understanding of market
drivers and the potential for unconventional indicators to sway stock prices. As the saying goes, "when life gives you lemons, investors make lemonade," andwith our study, we've certainly squeezed out some surprising results.

The whimsical world of stock market analysis has long beena playground of formidable minds and strategic thinkers, delving
into every nook and cranny in search of the elusive keys tomarket movements. From trends in consumer behavior tofinancial reports and economic indicators, the quest forunderstanding and predicting stock prices has been akin to a
gastronomic adventure. Speaking of gastronomy, one cannot
help but ponder whether the fruits of a stock market aficionado's
labor might, quite literally, lie in the fruits nestled in Americanhouseholds.
Much like a well-timed knock-knock joke, our researchendeavors to bring an unexpected twist to the age-old questionof market influences. In this study, we set forth to explore thecurious correlation between annual US household spending on
fresh fruits and the stock price of the Canadian National Railway
Company (CNI). Our findings not only peel back the layers ofconventional market analysis but also offer a fruitfully thoughtprovoking perspective on the underlying drivers of stock prices.
As we dive into the apple of our research, it becomesapparent that the link between fresh fruits and stock prices is not
as far-fetched as one might initially assume. It's almost as if themarket has a soft spot for sweet and juicy tidbits from theproduce aisle – a ripe opportunity to sow the seeds of a newfrontier in predictive analytics. With our findings in tow, we aim
to make a grape pun in the world of market insights andcultivate a deeper understanding of the interconnectedness ofseemingly disparate economic variables.

Just as the stock market is rife with twists and turns, we aim
to sprinkle a dash of humor and an unexpected zest into ouranalysis. After all, a study as unique as this one ought to offer
not only ripe findings but also an enjoyable read akin to biting
into a perfectly ripened peach – juicy and satisfying. So, without
further ado, let’s peel back the layers of this intriguing
correlation and see what fruitful secrets it may reveal.

Review of existing research
In their seminal work "The Fruitiest Forecasts: Analyzing
Consumer Behavior and Stock Prices," Smith et al. delve into
the intriguing relationship between consumer spending on fresh
fruits and its impact on the stock market. They uncover asignificant correlation between these variables, sparking
curiosity about the potential insights lurking in the aisles of thegrocery store. It seems that the saying "an apple a day keeps thedoctor away" might also apply to keeping the stock market atbay.
As we peel back the layers of market analysis, Jones andDoe, in "The Juicy Connection: Exploring Unconventional
Market Indicators," provide further evidence of the influence offresh fruits on stock prices. Their findings suggest that consumer
behaviors, particularly in the realm of healthy eating, can indeed
sway market trends. It's as if the market prefers its investors tohave a berry good understanding of healthy eating habits.

This paper is AI-generated, but the correlation and p-value are real.

More info: tylervigen.com/spurious-researchTurning over a new leaf, we explore the potential impact offresh fruits on the Canadian National Railway Company's stock
price. Could this seemingly tangential connection bear fruit in
our understanding of market dynamics? These questions prompt
a deeper dive into the impact of consumer behavior on the stock
market, unraveling the potential influence of grocery shopping
habits on investors' portfolios.

Our data collection process involved scouring the Bureau ofLabor Statistics and LSEG Analytics (Refinitiv) archives, sifting
through reams of data like a determined fruit picker in an
orchard. We harvested data from 2002 to 2022, carefully handpicking each datum as if selecting the finest grapes for a vintage
wine. This rigorous approach ensured that our data basket wasfilled with the crispest, most succulent empirical fruits for ouranalysis.

Fresh off the press, "Fruitonomics: A Citrus-y Approach toMarket Analysis" brings a unique perspective to the table,suggesting that the world of market analysis might benefit froma sprinkle of sweetness and a dash of vitamin C. It's as if every
stock portfolio could use a daily dose of strawberries for thatextra zing.

To crunch the numbers, we employed a sophisticatedstatistical model known as the "Banana Split Regression
Method." This method entails slicing and dicing the datasets into
bite-sized chunks, then systematically blending them together
with a dollop of cream and a sprinkle of statistical sprinkles. It'sa method as delightful as indulging in a fruity dessert – sweet,
satisfying, and sure to leave a statistical aftertaste.

Venturing further into the literature, we encounter non-fiction
works such as "The Economic Power of Apples" and "Bananas
and Blue-chips: Unraveling the Secrets of Market Success."
These books highlight the pervasive influence of fruits inshaping economic trends, hinting at the juicy potential waiting tobe squeezed out of consumer habits and stock market dynamics.
It's all very a-peeling, to say the least.

Furthermore, in line with the spirit of our whimsical inquiry,
we concocted our own statistical fruit bowl, incorporating
variables like apple expenditures, grape expenditures, and evenkumquat expenditures as predictors of CNI stock prices. It was aberry good time exploring the potential influence of eachdelectable variable on the stock market, and we certainly did not
shy away from a "think outside the juice box" approach.

Moving into the world of fiction, the works of "The Grapesof Wealth" and "War and Peaches" offer a whimsical yet
surprisingly relevant take on the interplay between fruits andfinancial prosperity. While these books may be fictional, theyplant the seeds of thought about the potential symbolic
significance of fruits in economic narratives. It's as if the literary
world is ripe with insights waiting to be plucked and savored.

As this study aimed to peel back the layers of conventional
market analysis, we couldn't resist the temptation to engage in a
bit of wordplay with our statistical tests. After all, a good joke islike a ripe pineapple – it leaves a sweet taste in the mouth.
Navigating through statistical tests with names as colorful as thefruits we studied, we employed the "Pearson's Correlation
Coefficient" to measure the strength and direction of therelationship, and the "Fruit F-test" to assess the overallsignificance of our fruity predictors.

Diving deeper into the world of literature, our research teamleft no stone unturned in our quest for unconventional insights.
We perused the backs of shampoo bottles, hoping to lather upsome sudsy wisdom, but alas, found no mention of thecorrelation between consumer fruit consumption and stock
prices. It seems the essence of wisdom does not lie in shampoo
after all.
Our literary journey has provided a ripe harvest of insights,
indicating that the whimsical world of fruits and finance may
hold more juice than meets the eye. The evidence pomegranate
to a fruitful connection between fresh fruits and stock prices,leaving us with a pear of surprising magnitude. With ourfindings in hand, we invite readers to dig into the fruitful worldof market analysis, armed with a zest for knowledge and ahealthy dose of humor. After all, when it comes to market
insights, a good pun is nothing to take lightly.

Procedure
To unearth the juicy correlation between annual US
household spending on fresh fruits and the stock price of theCanadian National Railway Company (CNI), our research teamembarked on a veritable fruit salad of data collection andanalysis. Armed with an insatiable curiosity and a healthy
appetite for statistical shenanigans, we mulled over various
methodologies and finally plucked the ripest approach.

With our research recipe in place, we whipped up a statisticalstorm, stirring the pot with precision and a dash of whimsy. The
result was a tantalizing blend of empirical rigor, unconventional
insights, and a sprinkle of fruity wit – a concoction that we hope
will resonate with audiences and leave them thirsting for more
fruity correlations in the stock market.
By the way, did you hear about the fruit that went to college? Itwanted to be a "melon-cologist"!

Findings
Our analysis revealed a striking correlation coefficient of
0.9857967 between annual US household spending on fresh
fruits and the stock price of the Canadian National Railway
Company (CNI) over the period from 2002 to 2022. This finding
suggests a remarkably strong positive association between these
two seemingly unrelated variables. It's as if investors have been
secretly getting their daily dose of Vitamin C from the market
trends all along!
The scatterplot (Fig. 1) further illustrates the relationship,
showcasing a beautiful alignment of data points that resembles aneatly arranged fruit basket. Who knew stock market analysis
could be so a-peeling? It seems the market truly does operate ona berry healthy diet.

This paper is AI-generated, but the correlation and p-value are real.

More info: tylervigen.com/spurious-researchIn addition, our research uncovered an r-squared value of
0.9717951, indicating that approximately 97.18% of thevariation in CNI stock price can be explained by the annual
household spending on fresh fruits. It's like finding the perfectbalance between pineapple and pizza – surprisingly harmonious
and oh so satisfying.

Our study builds upon the literature that hints at the ripple
effects of consumer behavior on stock prices, particularly in thecontext of healthy eating habits. The substantial correlation
coefficient we uncovered aligns with the intriguing findings ofSmith et al., reinforcing the notion that the market might indeed
prefer its investors to have a berry good understanding of
nutrition and healthy living. It's clear that the traditional
dichotomy between apples and oranges might not be so clear-cut
after all – at least not in the context of market analysis.
Moreover, the significant r-squared value we obtained adds
weight to the argument that consumer spending on fresh fruits
holds significant explanatory power for fluctuations in CNI
stock price, bolstering the claims made by prior researchers
about the influence of fruit consumption on market trends. Our
results suggest that the impact of consumer behavior,particularly in relation to dietary choices, extends beyond
conventional economic indicators, highlighting the potential for
fresh fruit consumption to sway stock prices. It's as if the market
has been secretly snacking on a fruit salad all along, with market
trends mirroring the ebb and flow of juicy consumer choices.

Figure 1. Scatterplot of the variables by year
Furthermore, the p-value of less than 0.01 signifies statisticallysignificant results, providing strong evidence to support thenotion that the correlation we identified is not just a random
berry happy accident. It's safe to say we've officially thrown out
the old adage "an apple a day keeps the doctor away" andreplaced it with "a kiwi a day keeps the bear market at bay" –talk about a juicy stock tip!
Our findings suggest that there may be underlying market forcesat play that go beyond traditional economic indicators. It's like
discovering the forbidden fruit of market analysis – a succulent
and unexpected addition to the financial buffet. Who would havethought that the produce aisle could hold the key tounderstanding stock market movements?
In sum, our study presents a ripe opportunity to challenge
conventional wisdom and introduce a fresh perspective into theworld of stock market analysis. As we dig deeper into thefruitful mysteries of market behavior, it's clear that there's moreto the market than just numbers and charts – there's a wholeorchard of potential insights waiting to be picked.

Discussion
The results of our study provide compelling evidence of a robust
correlation between annual US household spending on fresh
fruits and the stock price of the Canadian National Railway
Company (CNI), affirming the previous research by Smith et al.
and Jones and Doe. Our findings not only supported, butarguably substantiated the claims made in these prior works,
revealing an undeniable link between consumer spending on
fresh fruits and stock market performance. It's like finallyfinding the missing piece of the puzzle in a fruit salad – adelicious revelation indeed!

The statistically significant p-value further cements our findings
as a substantial contribution to the understanding of market
behavior, providing strong evidence that the observed
correlation is not merely a chance occurrence. It's like stumbling
upon the strawberry in a patch of wild blueberries – a delightful
surprise that can't be overlooked. Our results open up an
intriguing avenue for considering consumer spending on fresh
fruits as an unconventional yet potent indicator of stock market
dynamics, suggesting that the grocery store might be the new
ground zero for market trend analysis. It's fascinating to thinkthat a package of raspberries could hold the key tounderstanding stock market movements.
Ultimately, our study brings to light the potential insights thatcan be gleaned from seemingly unrelated variables, challenging
the boundaries of traditional market analysis. It's as if we've
discovered a hidden fruit treasure trove of market wisdom, ripe
for exploration and exploitation. The implications of ourfindings extend far beyond the realm of the stock market,
echoing the sentiment that there may be more to the market thanmeets the eye, and it might just be fruit salad. Whether investors
are truly getting their daily dose of Vitamin C from the market
trends remains to be seen, but one thing is clear – the link
between fruit consumption and stock prices is definitely not justa banana in the tailpipe!
The interplay between dietary habits and market dynamics raises
exciting possibilities for further research and underscores theneed to broaden the scope of market analysis to incorporate
unconventional indicators. It's time to juice up the market
analysis, armed with a zest for knowledge and a healthy dose ofhumor. After all, when it comes to unraveling the secrets ofmarket success, a good pun is nothing to take lightly.

Conclusion
Our research findings have peeled back the layers of market
analysis to reveal a surprisingly strong and statisticallysignificant relationship between annual US household spending

This paper is AI-generated, but the correlation and p-value are real.

More info: tylervigen.com/spurious-research

on fresh fruits and the stock price of the Canadian National
Railway Company (CNI). It seems that the market's love forfresh fruits is not just a fruit of our imagination. Our results
support the notion that this correlation is not just a grapecoincidence but a compelling indicator of market trends.
This study has certainly borne fruit in expanding ourunderstanding of the intricate dynamics at play in the stock
market. As investors ponder over their portfolios, perhaps theyshould also consider stocking up on a variety of fresh fruits for aprime market prediction. After all, it seems that a melon a day
might just keep the stock market blues away.
In conclusion, it's clear that there is a fruitful connection
between consumer behavior and stock performance, and it's
nothing to be taken lightly. As the saying goes, "when it comesto market analysis, don't let anyone give you any lip – it's allabout the pips, as in apple pips!" Our study has shown that thefruits of our labor have not been in vain, and the market may
indeed have a taste for the juicy secrets hidden within the
produce aisle.
Therefore, in the spirit of this fruitful endeavor, we hereby assertthat no more research is needed in this area. The correlation
between annual US household spending on fresh fruits and thestock price of the Canadian National Railway Company has
been officially squeezed dry of any further scholarly pursuit. It'stime to bid adieu to this particular research orchard and move
forward, seeking new and equally surprising correlations in theever-growing landscape of market analysis.

This paper is AI-generated, but the correlation and p-value are real.

More info: tylervigen.com/spurious-research