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Table 3 Number of individuals with significant Symbolic Mutual Information (SMI) and Symbolic Transfer of Entropy (STE). The SMI \(I_{ip}\) and STE \(T_{ip}\) are calculated over the complete investor’s activity period \(A_{i}\) in eight assets of the BME Spanish stock exchange. Significant values for SMI and STE are computed using the FDR approach described in the section “Methods”. Additional file 1 contains the same table but using the Bonferroni approach showing very similar results. First column gives the number of individuals with >95% confidence interval of sharing pattern with price evolution (among the total number individuals, in parenthesis). Three last columns present the equivalent analysis for STE. The number of individuals being in the <2.5% confidence interval are those showing a significant \(T_{ip}<0\) (they are one-day delayed with respect to price change) while the number of in the >97.5% Confidence Interval are those with a significant \(T_{ip}>0\) (they are anticipating price change). The column labelled as “NS” accounts for the number of individuals that do not present any significant STE between performance and price

From: Mapping individual behavior in financial markets: synchronization and anticipation

Asset

Investors

\(I_{ip}\)

\(T_{ip}\)

>95%

<2.5%

NS

>97.5%

TEF

146

259

33

371

1

SAN

57

162

8

211

0

BBVA

26

87

0

113

0

ELE

24

62

1

85

0

EZE

48

40

0

88

0

ZEL

44

27

0

71

0

REP

24

38

1

61

0

GAS

8

22

4

26

0

ALL

377

697

47

1026

1