Figure 11. Fraction of securities appearing in the validated network (left panel) and their average degree in the validated network (right panel) as a function of time.

Differently from the validated network of institutions, here the number of validated securities grows steadily in time. Yet, the number of validated links grows at a faster peace, as demonstrated by the increasing average degree. Solid lines correspond to a locally weighted least squares regression (loess) of data points with 0.2 span.