Comparing Interconnected Dynamics: An Edge-based Analysis of Sector ETFs via Non-directional Dependencies

This research delves into the intricate interdependencies among nine sector ETFs, harnessing linear and nonlinear analyses to elucidate financial market dynamics. Utilizing methodologies such as Pearson correlation, mutual information, Spearman and Kendall rank correlation coefficients, and the insights from Minimum Spanning Tree (MST) networks, we provide a detailed insight into the complex relationships underpinning these ETFs. This study highlights the importance of using various statistical dependencies for decision-making.