Figure 8
A line graph displays dynamic total connectedness over time from 2017 to 2024. The horizontal axis represents the years, while the vertical axis represents the connectedness index ranging from 0 to 80. The graph includes three data series: Total, 1-5, and 5-Inf. The Total series, represented in black, shows overall connectedness with fluctuations over the years, peaking around 2020. The 1-5 series, shown in pink, indicates short-term connectedness and forms the majority of the graph. The 5-Inf series, depicted in green, represents long-term connectedness and is relatively low compared to the other series. The graph shows a significant peak in total connectedness around 2020, followed by a decline and subsequent fluctuations.Short-term, long-term and overall dynamic total connectedness