Co-movers

daily closes · 499dMethod

Moved together

BHPwithRIO

×0.79co-movement · RIO on BHP · 499d

r 0.90scale to r 0.75

Shared co-movers8with BHPwith RIO

FCXFreeport-McMoRan Incr 0.73r 0.69

SLVSLVr 0.57r 0.57

IEIvanhoe Electric Inc.r 0.56r 0.56

HSBCHsbc Holdings PLCr 0.55r 0.56

NEMNewmont Corpr 0.52r 0.56

CDECoeur Mining, Inc.r 0.53r 0.51

BHP, solidRIO, hatched× = co-movement · βr = correlationBar = r to r 0.75Order: weaker of A and BSource: daily closes

BHPBHP Group Ltd

79.17−3.23%· post 79.17

Mkt cap$201.1B

RIORIO Tinto PLC

81.84−1.69%· post 82.27

ClosedOct 30 '26

Mkt cap—

vs

Compare

ClosedOct 30 '26

BHPBHP Group Ltd

vs

RIORIO Tinto PLC

79.17−3.23%post 79.17

Price

81.84−1.69%post 82.27

$201.1B

Mkt cap

—

BHP compared with RIO: revenue, margins and what each company keeps, and the suppliers and customers both name