Fig. 5 | Palgrave Communications

Fig. 5

From: Long-term ecology of investors in a financial market

Fig. 5

Time evolution of the clusters detected in the FDR networks. Clusters are represented by a square labeled with a numerical index and the year. A link is set between two clusters when the overlap between the number of investors present in a cluster at year k with the number of investors present at year k+1 is over-expressed with respect to a null hypothesis of random partitioning of investors maintaining the heterogeneity of cluster size. Chains of cluster evolution lasting several years (up to 12 years) are observed. Splitting and merging of clusters are also observed. Colored clusters are clusters characterized by an over-expression of one or more categories of investors

Back to article page