01

Research

S&P 500 Sector Connectedness and Market Structure: A Time-Series Econometrics Study

Tanishk Yadav · Working paper (GitHub, not peer-reviewed)

A time-series econometrics study of the eleven GICS sectors of the S&P 500 (Sep 2019 to Dec 2025, 401 constituents, 1,590 daily observations). A Diebold-Yilmaz (2012) generalized connectedness system gives a total connectedness index of 78.6%, with Industrials and Financials as the largest net transmitters and Energy the largest net receiver, and a rolling index peaking near 87% during the 2020 crisis. Multiple-testing-corrected Granger causality finds 88 of 110 daily links significant under Benjamini-Hochberg FDR (zero survive on quarterly data, underscoring sampling-frequency and multiple-testing effects). Sub-sector HHI shows concentration rising on net, and a Random Forest reaches 95.6% leave-one-out accuracy as a cluster separability check.

S&P 500 Diebold-Yilmaz Connectedness VAR / FEVD Granger Causality Market Structure HHI Time-Series Econometrics
78.6%
Connectedness (TCI)
401
Constituents
88/110
Granger (FDR)
1,590
Daily Obs
02

Coursework

New York University (Tandon School of Engineering)
M.S. Financial Engineering · Expected May 2027
Algorithmic Trading and High Frequency Finance
Real Time Risk Management
Credit Risk and Financial Risk Management
Introduction to Derivative Securities
Econometrics and Time Series Analysis
Corporate Valuation
Valuation
Quantitative Methods
SRM University
B.Tech CSE (AI & ML) · 100% Scholarship
Probability & Statistics
Linear Algebra
Single & Multi Variable Calculus
Differential Equations
Economics
Machine Learning & Deep Learning
Data Structures & Algorithms
Natural Language Processing
03

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04

Resume

Quant Research Leads with S&P 500 Sector Clustering
Quant Dev Leads with ChronoFund

PDF · Updated April 2026