Co-movers

daily closes · 500dMethod

Moved together

RIGwithHPK

×0.61co-movement · HPK on RIG · 500d

r 0.48scale to r 0.75

No shared co-movers.

RIG, solidHPK, hatched× = co-movement · βr = correlationBar = r to r 0.75Source: daily closes

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