PMAX Powell Max Limited Class A Ordinary Shares

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

Weekly, not daily

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

FER Ferrovial N.V. Ordinary Shares

horizon 10dρ +0.44holdout +0.54stable 50%moderate

IPX IperionX Limited American Depositary Share

horizon 10dρ +0.38holdout +0.40stable 62%moderate

CGO Calamos Global Total Return Fund Common Stock

horizon 10dρ +0.38holdout +0.38stable 75%robust

FIP FTAI Infrastructure Inc. Common Stock

horizon 10dρ +0.38holdout +0.21stable 38%moderate

FTAI FTAI Aviation Ltd. Common Stock

horizon 10dρ +0.38holdout +0.49stable 62%moderate

EPU iShares MSCI Peru and Global Exposure ETF

horizon 10dρ +0.38holdout +0.33stable 75%robust

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

CISS C3is Inc. Common Stock

Δ +0.49recent +0.56prior +0.06beyond mkt +0.10

KALA KALA BIO, Inc. Common Stock

Δ +0.47recent +0.48prior +0.01beyond mkt -0.01

CF CF Industries Holding, Inc.

Δ -0.45recent -0.38prior +0.07beyond mkt -0.01

SIDU Sidus Space, Inc. Class A Common Stock

Δ +0.44recent +0.47prior +0.03beyond mkt -0.07

CGC Canopy Growth Corporation Common Shares

Δ +0.43recent +0.52prior +0.10beyond mkt +0.03

PPL PPL Corporation

Δ -0.41recent -0.37prior +0.04beyond mkt -0.05

Abnormal volume rises and falls on the same days as PMAX's, while prices do not move together: the same hands, not the same business.

Symbol	traded together ρ	big prints together ρ	priced together ρ	q
HUBC Hub Cyber Security Ltd. Ordinary Shares	+0.54	+0.39	-0.01	<1e-15
SMX SMX (Security Matters) Public Limited Company Ordinary Shares	+0.37	+0.40	+0.01	<1e-15
AIFF Firefly Neuroscience, Inc. Common Stock	+0.38	+0.21	+0.01	<1e-15
SPIR Spire Global, Inc.	+0.35	+0.25	-0.04	3e-12
BB BlackBerry Limited	+0.36	+0.19	-0.03	3e-13
BLDP Ballard Power Systems, Inc. Common Shares	+0.32	+0.29	+0.03	1e-9