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On Stock Market Dynamics through Ultrametricity of Minimum Spanning Tree

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Figure 1: The distribution of correlation coefficients of traded stock price return in JSX2000-2004 (left) and the distribution of distances among stocks in the same period (right).
Figure 2:The moments of correlation coefficients ((left) and distances among stocksright) over time.
Figure 3: The minimum spanning tree of traded stocks in JSX in trading period 2001vertex represents the business sectors: agriculture ((top-left), 2002 (top-right), 2003 (bottom-left), and 2004 (bottom-right).The colors ofred), mining (maroon), basic industry(green), miscellaneous industry (purple), consumer goods industry (black), property andbuilding construction (pink), infrastructure and transportation (cyan), finance (orange),trade and investment (blue).
Figure 4: The hierarchical tree of clustered traded stocks in JSX in 2001-2004. The lettersin axis of each graph represents the respective business sector: ((a) agriculture sector,b) miscellaneous industry, (c) basic industry and chemicals, (d) mining, (e) financialsector, (f ) property, real estate, and building construction, (g) infrastructure, utilities,and transportation, (h) trade, services, and investment, and (i) consumer goods industry.Purple lines indicate basic industry and chemicals, black ones indicate consumer goodsindustry, and red ones financial and investment sector.
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