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. 2022 Jul 28;609:1181–1203. doi: 10.1016/j.ins.2022.07.146

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Fig. 4 — Time-varying global ratio assessment. The figure shows the evolution of the global ratio for the ETFs of the three sectors (Panel A to C), while Panel D does the same for sector portfolios. The y-axis shows the values recorded by the different ETFs and portfolios, while the x-axis shows the time evolution in months.