Figure 7
From: Trade synchronization and social ties in stock markets
Welch’s t-statistic on the difference in age and geographical distance between \(\text{NCON}\text{-}\text{SYNC}\) and \(\text{CON}\text{-}\text{SYNC}\) sets. The statistic is reported for 100 log-spaced α thresholds used for the validation of investors’ trade synchronization. The dotted vertical line marks the Bonferroni validation threshold