Co-movers

daily closes · 501dMethod

Moved together

NIOwithXPEV

×0.61co-movement · XPEV on NIO · 501d

r 0.60scale to r 0.75

Shared co-movers7with NIOwith XPEV

JDJD.com, Inc.r 0.44r 0.48

BHPBHP Group Ltdr 0.34r 0.33

YUMCYum China Holdings, Inc.r 0.32r 0.37

TCOMTrip.com Group Ltdr 0.32r 0.34

RIORIO Tinto PLCr 0.32r 0.31

ZLABZai Lab Ltdr 0.31r 0.31

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

NIONIO Inc.

3.19−4.07%· post 3.20

Mkt cap$8.0B

XPEVXpeng Inc.

9.03−1.69%· post 9.00

ClosedOct 30 '26

Mkt cap$8.6B

vs

Compare

ClosedOct 30 '26

NIONIO Inc.

vs

XPEVXpeng Inc.

3.19−4.07%post 3.20

Price

9.03−1.69%post 9.00

$8.0B

Mkt cap

$8.6B

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