MIT-CLX-1350, astre-qh/0004035

Number Crunching: The 9th Grade Effect on Bank ofAmerica's Stock Price
Christopher Harris, Alice Torres, Gabriel P Tate
The Journal of Adolescent Economics
The Society for Adolescent Financial Impact Studies
Madison, Wisconsin

Abstract
This paper examines the potential relationship between the number of public school students in
9th grade and the stock price of Bank of America (BAC). Utilizing data from the National Center
for Education Statistics and LSEG Analytics (Refinitiv), we conducted a thorough analysis of a
20-year period from 2002 to 2022. Our findings reveal a striking correlation coefficient of
0.8153019 and a statistically significant p-value of less than 0.01, suggesting a robust association
between these seemingly disparate variables. While the causality of this association remains
obscure, the implications for financial market analysis are intriguing and warrant furtherinvestigation. This unexpected link between 9th grade enrollment and a major financial
institution's stock price highlights the complexity and unpredictability of market dynamics andthe potential for unconventional indicators to play a role in the world of finance.

1. Introduction

The world of finance is a realm of constant flux and unpredictable forces, much like thebehavior of excited particles in a quantum physics experiment--or the mood swings of a
caffeinated lab rat. Over the years, researchers have delved deep into the labyrinthinemaze of financial variables, tirelessly seeking out patterns and connections that often
seem as elusive as the perfect cup of coffee on a Monday morning.
Among the myriad factors that sway the stock market, one might not expect the numberof 9th grade students in public schools to be among the key players. However, as Albert
Einstein famously said, "The most beautiful thing we can experience is the mysterious."
In line with this sentiment, this study seeks to unravel the mystery behind the potential

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

More info: tylervigen.com/spurious-researchrelationship between the enrollment of 9th graders and the stock price of Bank ofAmerica (BAC).
In the pursuit of this perplexing connection, we conducted an exhaustive analysis
spanning two decades, employing data from the esteemed National Center for Education
Statistics and LSEG Analytics (Refinitiv). The period from 2002 to 2022 was scrutinized,
leaving no stone unturned in our quest for statistical significance.
The correlation coefficient, a stalwart measure of association, revealed a striking value of0.8153019. This number, while lacking the flair of a Hollywood film, holds profound
implications for the intersecting domains of education and finance. Furthermore, the pvalue emerged with the dramatic flair of a magician pulling a rabbit out of a hat,demonstrating a statistically significant relationship with a value less than 0.01.
While the elusive specter of causality still eludes our grasp, the robustness of thisassociation beckons researchers to unravel its enigmatic nature. Like Sherlock Holmes
facing a perplexing case, we find ourselves at a crossroads, with more questions thananswers. The implications of this unexpected link between 9th grade enrollment and afinancial giant's stock price add a layer of intrigue to the already enigmatic world ofmarket dynamics.
In conclusion, the unforeseen entanglement of 9th grade student numbers and a banking
behemoth's stock price serves as a vibrant reminder of the capricious nature of financial
markets. Like a jigsaw puzzle missing a few crucial pieces, the enigma of these findings
invites further exploration and scrutiny. The unexpected convergence of seemingly
unrelated variables underscores the kaleidoscopic nature of modern finance, reminding us
that, in this complex world, even the most unlikely candidates may hold unsuspectingsway.

2. Literature Review

The captivating amalgamation of 9th-grade student enrollment and the stock price ofBank of America (BAC) has commanded the attention of researchers and enthusiasts
alike. The labyrinthine nuances of this unconventional relationship have spurred
investigations that seek to unravel its enigmatic nature. In their seminal work, Smith andDoe (2015) delved into the unsuspected intersection of demographic trends and financialdynamics, providing a conceptual framework for understanding such unorthodox
associations.
Jones and Smith (2018) further explored the realm of unorthodox market indicators,
shedding light on the potential linkages between seemingly disparate variables. Theirsystematic analysis underscored the need to embrace unconventional perspectives infinancial research, as the market's tapestry reveals unexpected threads at every turn. TheThis paper is AI-generated, but the correlation and p-value are real.

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works of these esteemed scholars laid the foundation for our current investigation,
beckoning us to entertain the possibility of unanticipated correlations between 9th-grade
enrollment and a significant player in the financial arena.
Venturing beyond the traditional boundaries of finance and education, researchers havedrawn inspiration from various sources that offer unique insights into the idiosyncrasies
of market dynamics. In "Freakonomics" (Levitt and Dubner, 2005), the authors expound
upon the unanticipated forces that shape economic phenomena, encouraging readers tosee beyond the facade of conventional wisdom.
Shifting gears to a more imaginative realm, the fiction novel "Moneyball" (Lewis, 2003)
weaves a captivating narrative around the unpredictability of success in the world ofprofessional baseball. While seemingly unrelated to our current inquiry, the underlyingthemes of unexpected correlations and unconventional indicators resonate with theunorthodox pairing of 9th-grade students and stock prices.
In the cinematic universe, "The Big Short" provides a cinematic portrayal of the intricate
web of financial markets, offering a dramatic narrative that mirrors the enigmatic natureof our findings. While the protagonists' pursuits may differ from our own, the underlying
theme of unraveling complex financial intricacies resonates with our quest to decipher theunexpected entanglement of 9th-grade enrollment and a banking giant's stock price.
As we navigate the uncharted waters of this intriguing academic pursuit, it becomesincreasingly evident that serendipity and unpredictability often reign supreme in theworld of finance. The works of esteemed scholars and the subtle echoes from fictional
narratives and cinematic portrayals converge to underscore the multifaceted nature of ourinvestigation, reminding us that even the most unanticipated correlations may holdunsuspecting sway in the tapestry of modern finance.

3. Research Approach

In this study, a concoction of methodological ingredients was stirred together to brew thepotion of analysis. The number of public school students in 9th grade, extracted from theNational Center for Education Statistics, waltzed with the stock price of Bank of America(BAC), sourced from LSEG Analytics (Refinitiv), forming the elusive tango of dataintertwining.
Firstly, to capture the essence of a 20-year period from 2002 to 2022, a systematic andexhaustive data collection effort akin to a squirrel hoarding nuts for winter wasundertaken. This involved scavenging the vast expanse of the internet and datarepositories, utilizing algorithms and meticulous keyword searches, akin to anarcheologist sifting through layers of earth in search of ancient artifacts, to amass aThis paper is AI-generated, but the correlation and p-value are real.

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comprehensive dataset that encapsulated the fluctuating fortunes of 9th grade enrollments
and BAC stock prices.
The process of data wrangling and cleaning resembled the work of a fastidious librarian
meticulously organizing a chaotic library, ensuring that each datum was accounted forand devoid of errors or inconsistencies. Once the dataset was scrubbed clean, itunderwent a series of statistical rituals, including correlation analyses and regression
incantations, in order to unveil the relationship between the two seemingly disparate
variables.
The statistical software, acting as the magician's wand in this mystical endeavor, conjured
the correlation coefficient, a measure of the strength and direction of the linear
relationship between the variables. This mystical number, with its cloak of significance,
cast light on the dance of 9th grade students and BAC stock prices, providing a numericalinsight into their seemingly enchanted connection.
Furthermore, the incantation of the p-value, a tool of statistical sorcery, was invoked todetermine the probability of observing such a strong relationship between the variables
by mere chance. Its diminutive value, akin to finding a needle in a haystack, signaled thepresence of a significant association that beckoned further exploration.
In summary, this methodological tapestry, woven with threads of thorough datacollection, meticulous cleaning, and statistical sorcery, provided the framework forunraveling the mysterious entanglement of 9th grade student numbers and the stock priceof a financial titan.

4. Findings

The analysis of the relationship between the number of public school students in 9th
grade and Bank of America's stock price (BAC) yielded intriguing results. Over the 20year period from 2002 to 2022, the correlation coefficient between these seemingly
disparate variables was found to be a substantial 0.8153019, indicating a strong positive
relationship. This finding suggests that as the number of 9th grade students in publicschools fluctuated, there were corresponding movements in the stock price of Bank ofAmerica. The r-squared value of 0.6647172 further reinforces the robustness of thisassociation, indicating that approximately 66.47% of the variability in BAC stock pricecan be explained by changes in 9th grade enrollment.
The results also revealed a statistically significant p-value of less than 0.01, indicating ahigh level of confidence in the relationship between these variables. The findings of thisstudy underscore the unpredictability of financial markets and the potential forunorthodox indicators to have an impact on stock prices. The unexpected emergence of aThis paper is AI-generated, but the correlation and p-value are real.

More info: tylervigen.com/spurious-researchstrong link between 9th grade enrollment and the stock price of a major financial
institution challenges traditional notions of market analysis and calls for a reevaluation of
the variables that shape our economic landscape.
The scatterplot (Fig. 1) visually depicts the strong positive correlation between thenumber of public school students in 9th grade and Bank of America's stock price,providing a compelling illustration of the connection uncovered by this research.

Figure 1. Scatterplot of the variables by year
These results shine a light on the enigmatic nature of financial markets, reminding us
that, in the words of Sir Arthur Conan Doyle, "It is a capital mistake to theorize before
one has data." The unexpected intertwining of 9th grade student enrollment and a banking
giant's stock price serves as a testament to the complex interplay of variables in the realmof finance, prompting further inquiry into the factors that shape market dynamics.

5. Discussion on findings

The results of this study contribute to the burgeoning literature on the interplay between
unconventional indicators and market dynamics. Our findings align with the priorresearch that has illuminated the unexpected complexities of financial phenomena,echoing the prescient insights of Smith and Doe (2015) and the compelling analyses ofJones and Smith (2018). While the unorthodox pairing of 9th-grade student enrollment
and a major financial institution's stock price may have initially raised eyebrows, ourstudy has bolstered the growing body of evidence supporting the existence of tangible
connections between seemingly divergent variables.
As Levitt and Dubner (2005) poignantly observed in "Freakonomics," the hidden forcesthat shape economic circumstances often defy conventional wisdom, inviting researchers
to explore the uncharted territories of unpredictability. The notion of unforeseen
correlations and the impact of unconventional factors on market dynamics, reminiscent ofThis paper is AI-generated, but the correlation and p-value are real.

More info: tylervigen.com/spurious-research

the captivating narrative woven in "Moneyball" (Lewis, 2003), resonates with theunanticipated bond uncovered between 9th-grade student enrollment and Bank ofAmerica's stock price.
The robust correlation coefficient and the statistically significant p-value unearthed in ouranalysis underscore the compelling nature of this unanticipated association, reinforcing
the imperative to embrace unconventional perspectives in financial research. Thesefindings underscore the potential of unorthodox indicators to play a pivotal role inshaping the intricate fabric of market dynamics, akin to the dramatic unraveling offinancial intricacies portrayed in "The Big Short."While the idiosyncratic nature of this association may prompt raised eyebrows andincredulous expressions, the statistical rigor of our analysis compels us to acknowledge
the underlying significance of this peculiar juxtaposition. The visual representation of thisrelationship in the scatterplot (Fig. 1) serves as a stark visual testament to the tangiblebond between 9th grade student enrollment and the stock price of a banking stalwart.
In conclusion, the unexpected intertwining of 9th grade student enrollment and Bank ofAmerica's stock price encapsulates the complexity and nuance of modern finance,
defying the confines of conventional market analysis and beckoning researchers to delve
deeper into the unanticipated avenues that shape our economic landscape. As we navigate
the uncharted waters of this unforeseen correlation, we are reminded of the insightful
words of Sir Arthur Conan Doyle, serving as a siren call for further exploration andanalysis in this unorthodox realm of financial dynamics.

6. Conclusion

In light of the findings presented, it is evident that the relationship between the number ofpublic school students in 9th grade and Bank of America's stock price is not a mere fluke
or statistical hiccup. The substantial correlation coefficient and the statistically significant
p-value reveal a significant association that cannot be brushed off with the nonchalanceof a cat swatting at a toy mouse. While the causal mechanism behind this connection
remains as cryptic as an unsolved algebraic equation, the implications for financial
analysis bear the weight of a black hole's gravitational pull.
The inexorable intertwining of 9th grade enrollment and BAC stock price serves as agentle, yet persistent, reminder that the tendrils of influence in financial markets extend
far and wide, much like an overenthusiastic vine in a botanical garden. This unexpectedconcurrence challenges our conventional understanding of market dynamics, compelling
researchers to expand their investigative toolkit beyond the ordinary and into the realm of
the extraordinary.

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

More info: tylervigen.com/spurious-researchIn the grand symphony of financial variables, the number of 9th grade students in publicschools may be but a humble piccolo, yet its melodic resonance with the stock price of abanking behemoth demands our attention. As we bid adieu to this exploration, it is with acertain solemnity that we assert: no further excursions along this particular avenue ofinquiry are needed, for the enigma of the 9th grade effect on Bank of America's stock
price has been uncovered and laid bare for the curious eyes of the academic community.

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

More info: tylervigen.com/spurious-research