Co-movers

daily closes · 500dMethod

Moved together

BRK-BwithPGR

×0.71co-movement · PGR on BRK-B · 500d

r 0.47scale to r 0.75

Shared co-movers6with BRK-Bwith PGR

HIGHartford Insurance Group, Inc.r 0.60r 0.64

LLoews Corpr 0.64r 0.58

CINFCincinnati Financial Corpr 0.58r 0.58

ACGLArch Capital Group Ltd.r 0.57r 0.63

AFLAflac Incr 0.61r 0.57

TRVTravelers Companies, Inc.r 0.57r 0.59

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

BRK-B compared with PGR: revenue, margins and what each company keeps, and the suppliers and customers both name