Before revision:  Furthermore evidence for a localization transition in eigenvectors related to small  eigenvalues in cross-correlations analysis of this model is found and a simple explanation of localization phenomena in financial time-series is provided  .
After revision:  Furthermore evidence for a localization transition in eigenvectors related to small eigenvalues in cross-correlations analysis of this model is found and a simple explanation of localization phenomena in financial time-series is provided . Finally we identify both in our model and in real financial data an inverted-bell effect in correlation between localized components and their local temperature: high and low temperature/volatility components are the most localized ones .