A new algorithm of the analysis of correlation among economy time series is
proposed. The algorithm is based on the power law classification scheme (PLCS)
followed by the analysis of the network on the percolation threshold (NPT). The
algorithm was applied to the analysis of correlations among GDP per capita time
series of 19 most developed countries in the periods (1982, 2011), (1992, 2011)
and (2002, 2011). The representative countries with respect to strength of
correlation, convergence of time series and stability of correlation are
distinguished. The results are compared with ultrametric distance matrix
analysed by NPT.Comment: submitted to Acta Physica Polonica
