We analyze correlation structures in financial markets by coarse graining the Pearson correlation matrices according to market sectors to obtain Guhr matrices using Guhr's correlation method according to Ref. [P. Rinn {\it et. al.}, Europhysics Letters 110, 68003 (2015)]. We compare the results for the evolution of market states and the corresponding transition matrices with those obtained using Pearson correlation matrices. The behavior of market states is found to be similar for both the coarse grained and Pearson matrices. However, the number of relevant variables is reduced by orders of magnitude.

翻译：我们通过根据市场部门对皮尔逊相关矩阵进行粗粒化，并采用Guhr相关方法（参考文献[P. Rinn等人，《欧洲物理快报》110, 68003 (2015)]获得Guhr矩阵），分析了金融市场的相关结构。我们将市场状态演变及其对应转移矩阵的结果与使用皮尔逊相关矩阵得到的结果进行了比较。研究发现，粗粒化矩阵与皮尔逊矩阵所呈现的市场状态行为相似，但相关变量的数量减少了数个数量级。