Is there an efficient way to cluster a graph according to Jaccard similarity?

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Is there an efficient way to cluster nodes in a graph using Jaccard similarity such that each cluster has at least K nodes?

Jaccard similarity between nodes i and j:
Let S be the set of neighbours of i and T be the set of neighbours of j. Then the similarity between i and j is given by |(S ⋂ T)| / |(S ⋃ T)|.

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