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Fig. 3 | Financial Innovation

Fig. 3

From: Impact of the COVID-19 outbreak on the US equity sectors: Evidence from quantile return spillovers

Fig. 3

DY spillover based on conditional mean: ordinary least squares (OLS) estimator. Note: This network graph shows the degree of connectedness among the US sectors over the full sample period. The pair-wise connectedness is measured using the Diebold-Yilmaz framework. The thickness of an edge is proportional to its weight and spillover is shown as a numeric value on the start of an edge. Edges are drawn as curves and the direction of pairwise spillovers is shown through arrows. The net spillover for a node (US stock sector) is shown as pie around border where red is for transmission and yellow for reception. A higher percentage of red indicates that the node is a net spillover transmitter. The layout of the nodes is determined by applying the force-directed algorithm of Fruchterman and Reingold (1991)

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