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Time Series, QQ plot

Time Series, QQ plot

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Hi, I am going through the Time Series Analysis section, studying the qq-plot.
When I tried to go deep in the scipy.stats.proplot in (https://docs.scipy.org/doc/scipy/reference/generated/scipy.stats.probplot.html#scipy.stats.probplot)
I read the following:
probplot generates a probability plot, which should not be confused with a Q-Q or a P-P plot. Statsmodels has more extensive functionality of this type, see statsmodels.api.ProbPlot.’
I learnt that, QQ plot is plotting the quantiles of two data set against each other.
Is  scipy.stats.proplo here plotting the quantiles of probability distribution of the given data against a normal distribution, which is very like a QQ-plot? kinda confused.
 
Many Thanks!!

1 Answer

365 Team
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Hey Minli 
 
The QQ plot compares the qunatiles of two different distributions – the first one being the variable we’re mapping and the second one being a theoretical distribution (like the normal one). 
As for the code, the two functions are essentially equivalent and here is a snippet of the code and output using either function. 

Best, 
365 Vik

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