BUD Anheuser-Busch INBEV SA/NV

together opposite · bar = ρ at each lag, −10 … 0 … +10 days · holdout ρ · click a card for the full picture

BUD vs EWK

Both indexed to 100 at 2026-05-11.

BUD EWK · range 91–108 · 2026-05-11 → 2026-11-06

Same day, ranked by what's left after the market and sector factors are removed ("beyond mkt").

EWK iShares MSCI Belgium ETF

ρ +0.57beyond mkt +0.37holdout +0.59stable 100%robust

DEO Diageo plc

ρ +0.58beyond mkt +0.36holdout +0.65stable 100%robust

IYK iShares U.S. Consumer Staples ETF

ρ +0.55beyond mkt +0.30holdout +0.57stable 100%robust

ABEV AMBEV S.A.

ρ +0.46beyond mkt +0.30holdout +0.59stable 100%robust

XLP State Street Consumer Staples Select Sector SPDR ETF

ρ +0.54beyond mkt +0.28holdout +0.57stable 100%robust

CCEP Coca-Cola Europacific Partners plc Ordinary Shares

ρ +0.51beyond mkt +0.27holdout +0.60stable 100%robust

No day-to-day relationship, but 5- or 10-day returns move together.

PNW Pinnacle West Capital Corporation

horizon 5dρ +0.32holdout +0.28stable 75%robust

Biggest shifts in same-day correlation over the last 63 trading days versus the year before.

ROG Rogers Corporation

Δ -0.68recent -0.55prior +0.13beyond mkt -0.01

NOK Nokia Corporation

Δ -0.67recent -0.54prior +0.14beyond mkt +0.00

MTRN Materion Corporation

Δ -0.64recent -0.46prior +0.18beyond mkt +0.07

AEHR Aehr Test Systems Common Stock

Δ -0.64recent -0.61prior +0.02beyond mkt -0.01

ARW Arrow Electronics, Inc.

Δ -0.63recent -0.47prior +0.16beyond mkt +0.01

MKSI MKS Inc. Common Stock

Δ -0.63recent -0.64prior -0.01beyond mkt -0.07

Strong beyond-the-market co-movement with few shared neighbours.

Symbol	beyond mkt	raw ρ	shared	isolation
EWK iShares MSCI Belgium ETF	+0.37	+0.57	0
DEO Diageo plc	+0.36	+0.58	14