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. 2016 Dec 21;6:39467. doi: 10.1038/srep39467

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Copyright © 2016, The Author(s)

This work is licensed under a Creative Commons Attribution 4.0 International License. The images or other third party material in this article are included in the article’s Creative Commons license, unless indicated otherwise in the credit line; if the material is not included under the Creative Commons license, users will need to obtain permission from the license holder to reproduce the material. To view a copy of this license, visit http://creativecommons.org/licenses/by/4.0/

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Left panel: average return of portfolios in the validated network vs average return in the complementary set. All returns for which |r_i(t)| < r_max (here 0.2) are included. The straight line correspond to a linear regression of the data-points (one for each quarter). Right panel: value of the slope obtained as in the left panel as a function of r_max (see details in the text). When returns greater than roughly 30–40% are excluded the slope is found significantly larger than 1. This indicates that portfolios in the validated network tend to have higher returns (in absolute terms) than their not validated counterpart. The inset shows the overall fraction of returns satisfying |r_i(t)| < r_max as a function of r_max.