Introducing lag plots
A lag plot is a scatter plot showing currently observed values on the y axis versus their lagged values on the x axis.
While the scatter plot is a bivariate analysis of two numeric variables, it is also possible to add color to the dots in a scatter plot to represent a third—numeric or nominal—variable. The most common lag plot shows the values at lag 1, which is also called a first-order lag plot.
In the following subsections, we will explain the insights and usage of a lag plot and see how to build a lag plot in KNIME.
Introducing insights derived from a lag plot
A lag plot shows the persistence of values at the selected lag: the more concentrated the data points on the diagonal of the scatter plot are, the stronger the autocorrelation at the selected lag. If the data points are concentrated above the diagonal, the lagged values are lower than the current value, and if they are concentrated below the diagonal, the lagged values are...
