bottom of the hierarchical tree). The color of line indicates the primary economic sector of the stock, red for technology, blue for energy and green for financial.[]{data-label="dendroSLCA"}](HTnyse10_colorSLCA){width="100.00000%"}

The resulting graph $g$ is the MST of the system and the matrix ${\bf Q}$ is the correlation matrix associated to the SLCA. The presented algorithm is not the most popular or the simplest algorithm for the construction of the MST but it clearly reveals the relation between SLCA and MST. Indeed connected components progressively merging together during the construction of $g$ are nothing else but clusters progressively merging together in the SLCA. In Fig. \[mst10\] we show the MST associated with the considered example. It should be noted that the correlation based tree contains more information than the hierarchical tree or the filtered correlation matrix. For example, the fact that the connection between the cluster of two technology stocks (MOT and TXN) and the cluster of mostly financial stocks (MER, AXP, AIG, BAC and IBM) occurs through IBM is something which is not contained in the hierarchical tree but it is present in the MST.

![Minimum spanning tree associated with the SLCA of the example. The vertices indicate the stocks. Colors indicate 