Co-movers

daily closes · 495dMethod

Moved together

TTEwithE

×0.66co-movement · E on TTE · 495d

r 0.70scale to r 0.75

Shared co-movers5with TTEwith E

SHELShell plcr 0.64r 0.79

BPBP PLCr 0.63r 0.76

EQNREquinor ASAr 0.56r 0.72

SUSuncor Energy Incr 0.49r 0.70

COPConocoPhillipsr 0.49r 0.65

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

TTETotalenergies SE

89.07−1.53%· post 88.76

Mkt cap$195.8B

EENI SPA

55.79−1.33%· post 55.01

ClosedNov 5 '26

Mkt cap$87.6B

vs

Compare

ClosedNov 5 '26

TTETotalenergies SE

vs

EENI SPA

89.07−1.53%post 88.76

Price

55.79−1.33%post 55.01

$195.8B

Mkt cap

$87.6B

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