Co-movers

daily closes · 499dMethod

Moved together

MUwithKLAC

×0.50co-movement · KLAC on MU · 499d

r 0.68scale to r 0.75

Shared co-movers5with MUwith KLAC

LRCXLAM Research Corpr 0.77r 0.89

AMATApplied Materials Incr 0.71r 0.88

AMKRAmkor Technology, Inc.r 0.65r 0.71

AEISAdvanced Energy Industries Incr 0.64r 0.73

COHUCohu Incr 0.63r 0.70

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

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