|
Mean
|
Max
|
Min
|
---|
|
Index
|
(Index-100)
|
Index
|
(Index-100)
|
Index
|
(Index-100)
|
---|
T1
|
98.56
|
(-1.44)
|
96.73
|
(-3.27)
|
101.16
|
(+1.16)
|
T2
|
98.83
|
(-1.17)
|
97.14
|
(-2.86)
|
100.00
|
(0.00)
|
T3
|
102.14
|
(+2.14)
|
100.00
|
(0.00)
|
104.18
|
(+4.18)
|
Whole period
|
100
| |
100
| |
100
| |
[value]
|
[8.90]
| |
[9.64]
| |
[8.19]
| |
- Note: Every trading date during the whole observation period (January 2008 - May 2016) was separated into three sub-periods, namely T1, T2, and T3 by the subspace clustering of conditional adjacency matrices of the dynamic correlation network using k-means algorithm. Mean, Max, and Min represent the mean, maximum, and minimum values of the largest eigenvalues of adjacency matrices that are estimated on each trading date during the sub-period, respectively. The values are indexed at the whole period=100