Figure 4
A network diagram showing the directional connectedness between various financial and commodity indices during the COVID-19 pandemic. The diagram features nodes representing different indices and commodities, connected by lines indicating the direction and strength of their relationships. The nodes are color-coded, with blue representing financial indices and yellow representing commodities. Each node is labeled with the name of the index or commodity it represents. The lines connecting the nodes vary in thickness, indicating the strength of the connection, with thicker lines representing stronger connections. The indices and commodities included in the diagram are SP 500, FTSE, S P TSX, DAX 40, CAC 40, FTSE MIB, Nikkei, Wheat, Gas, WTI, Gold, and Bitcoin. The diagram shows a complex web of interconnections, highlighting the interconnected nature of global financial markets and commodities during the pandemic.Directional connectedness network during COVID-19 pandemic