Further half of the bivariate pairings of these indices indicates nonbreaking bivariate cointegration, while four are cointegrated subject to a structural break. These results are supported by both multivariate cointegration and ECM. Granger causality applies when cointegration is not evident. The degree of integration among these five SPIs has increased and the opportunities for risk diversification has lessened in the 1990s.

请大家帮忙翻译一下这段话，里面一些关系和名词我没搞明白