%L eprints1134
%D 2003
%X We compare the topological properties of the minimal spanning tree obtained from a large group of stocks traded at the New York Stock Exchange during a 12-year trading period with the one obtained from surrogated data simulated by using simple market models. We find that the empirical tree has features of a complex network that cannot be reproduced, even as a first approximation, by a random market model and by the widespread one-factor model.
%K PACS: 89.75.Fb, 89.75.Hc, 89.65.Gh

%A Giovanni Bonanno
%A Guido Caldarelli
%A Fabrizio Lillo
%A Rosario Nunzio Mantegna
%R 10.1103/PhysRevE.68.046130
%J Physical Review E
%N 4
%T Topology of correlation-based minimal spanning trees in real and model markets
%I American Physical Society
%V 68