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Table 4 Influence of individual reaction to price over the Anticipation network. The table is divided in four groups across the 8 different markets plus the aggregation of all them. For all significant links from i to j (\(T_{ij} > 0\)) for each network (market), we computed the probability of i being more synchronized with price than j (first group), i being less synchronized than j (second column), i having a higher value for the STE with respect to price than j (third group) and i having a higher value for the STE with respect to price than j (fourth group). FDR approach described in “Methods” section is used here to discriminate the significant links. Additional file 1 contains an equivalent table using Bonferroni instead of FDR method displaying similar results. Numbers between brackets account for the frequency. Asterisks refer to different confidence interval levels, for 90%, for 95%, and for 99%

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

Asset

\(p( I_{ip} > I_{jp} \vert T_{ij} > 0 )\)

\(p ( I_{ip} < I_{jp} \vert T_{ij} > 0 )\)

\(p ( T_{ip} > T_{jp} \vert T_{ij} > 0 )\)

\(p ( T_{ip} < T_{jp} \vert T_{ij} > 0 )\)

TEF

0.54

(420)

0.46

(357)

0.50

(390)

0.50

(386)

SAN

0.57

(80)

0.43

(60)

0.54

(76)

0.46

(64)

BBVA

0.60

(18)

0.40

(12)

0.43

(13)

0.57

(17)

ELE

0.70

(21)

0.30

(9)

0.43

(13)

0.57

(17)

EZE

0.61

(11)

0.39

(7)

0.56

(10)

0.44

(8)

ZEL

0.69

(11)

0.31

(5)

0.44

(7)

0.56

(9)

REP

0.63

(12)

0.37

(7)

0.63

(12)

0.37

(7)

GAS

0.00

(0)

1.00

(1)

1.00

(1)

0.00

(0)

ALL

0.56

(573)

0.44

(458)

0.51

(522)

0.49

(508)