FDS Factset Research Systems

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

FDS vs MORN

Both indexed to 100 at 2026-05-11.

FDS MORN · range 80–158 · 2026-05-11 → 2026-11-06

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

MORN Morningstar, Inc. Common Stock

ρ +0.69beyond mkt +0.46holdout +0.81stable 100%robust

SPGI S&P Global Inc.

ρ +0.62beyond mkt +0.37holdout +0.66stable 100%robust

MCO Moody's Corporation

ρ +0.59beyond mkt +0.32holdout +0.64stable 100%robust

MSCI MSCI, Inc.

ρ +0.55beyond mkt +0.32holdout +0.68stable 100%robust

VRSK Verisk Analytics, Inc. Common Stock

ρ +0.56beyond mkt +0.29holdout +0.66stable 100%robust

NDAQ Nasdaq, Inc. Common Stock

ρ +0.47beyond mkt +0.23holdout +0.49stable 100%robust

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

CNI Canadian National Railway

horizon 10dρ +0.43holdout +0.63stable 62%moderate

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

IRDM Iridium Communications Inc Common Stock

Δ -0.54recent -0.44prior +0.11beyond mkt +0.07

SJT San Juan Basin Royalty Trust UBI

Δ -0.53recent -0.45prior +0.08beyond mkt -0.01

BAND Bandwidth Inc. Class A Common Stock

Δ -0.52recent -0.30prior +0.22beyond mkt -0.01

KLIC Kulicke and Soffa Industries, Inc. Common Stock

Δ -0.51recent -0.54prior -0.03beyond mkt +0.06

IYZ iShares U.S. Telecommunications ETF

Δ -0.50recent -0.42prior +0.08beyond mkt -0.02

LAZR Tema Photonics & Optical ETF

Δ -0.50recent -0.50prior -0.00beyond mkt +0.06

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

Symbol	beyond mkt	raw ρ	shared	isolation
MORN Morningstar, Inc. Common Stock	+0.46	+0.69	15
SPGI S&P Global Inc.	+0.37	+0.62	12