There exist positive serial correlation among the residuals.

残差之间存在正的序列相关.

In this paper, ARCH effects and serial correlation of stock returns are tested.

本文检验了我国股市的ARCH效应和序列相关性。

If so have you accounted for serial correlation and the reduction in degrees of freedom brought about by correlating smoothed series?

如果是的话，你对序列的相关性和由相关的平滑序列所导致的自由度降低作出解释了吗？