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Insurance and Interconnectedness in the Financial Services Industry

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FIGURE 6<br />

Variation expla<strong>in</strong>ed by pr<strong>in</strong>cipal components for <strong>the</strong> sample of brokers, banks, FHCs, hedge<br />

funds, <strong>and</strong> <strong>in</strong>surance companies, with <strong>in</strong>surance companies separated by type, December 1996<br />

through December 2010<br />

VariaOon expla<strong>in</strong>ed<br />

100%<br />

90%<br />

80%<br />

70%<br />

60%<br />

50%<br />

40%<br />

30%<br />

20%<br />

10%<br />

0%<br />

Dec-­‐96<br />

Jul-­‐97<br />

PCA1 PCA2 PCA3 PCA4 PCA5 PCA6 PCA7 PCA8 PCA9<br />

Feb-­‐98<br />

Sep-­‐98<br />

Apr-­‐99<br />

Nov-­‐99<br />

Jun-­‐00<br />

Jan-­‐01<br />

Aug-­‐01<br />

Mar-­‐02<br />

Oct-­‐02<br />

May-­‐03<br />

Dec-­‐03<br />

Month<br />

Jul-­‐04<br />

Feb-­‐05<br />

Sep-­‐05<br />

Apr-­‐06<br />

Nov-­‐06<br />

Jun-­‐07<br />

Jan-­‐08<br />

Aug-­‐08<br />

Mar-­‐09<br />

Oct-­‐09<br />

May-­‐10<br />

33<br />

Dec-­‐10

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