What does autocorrelation mean?

autocorrelation meaning in Law Dictionary

analytical measure that suggests the degree of CORRELATION of a random adjustable with itself; particularly, it steps the partnership between a value in an occasion series and the ones that take place before and after. Good autocorrelation suggests that deviations from the balance exist across times, while negative autocorrelation means deviations are generally corrected. See also CORRELATION.

autocorrelation meaning in Business Dictionary

Situation by which a time show information is impacted by unique historical values, such as a present 12 months's spending plan on the basis of the last year's spending plan.