Figure 1
A line graph showing the dynamic of total return connectedness over time from 2022 to 2025. The x-axis represents the years from 2022 to 2025, and the y-axis represents the total return connectedness values ranging from 50 to 80. The graph shows fluctuations in the total return connectedness over the specified period, with notable peaks and troughs. All values are approximated.The dynamic of total return connectedness over time. Source: Authors’ own work