PKG / SWPackaging Corporation of America · Smurfit WestRock plcMeasured twin
PKG $248.92 +4.15%SW $42.43 +2.34%· Containers/Packaging
+2.28 / ±2 sd
Mean reversion ADF t −3.38
PKG and SW moved together for a year and their gap has a measured habit of closing. At the 2026-10-22 close PKG was ahead by 2.28 standard deviations.
Paper idea at ±2 sd (long the laggard, short the leader), out at ±4 sd or when the gap closes; no time exit.
DUK / EXCDuke Energy Corporation (Holding Company) · Exelon CorporationMeasured twin
DUK $125.40 +3.92%EXC $44.85 +4.18%· Power Generation
+1.62 / ±2 sd
Mean reversion ADF t −2.90
DUK and EXC moved together for a year and their gap has a measured habit of closing. At the 2026-10-22 close DUK was ahead by 1.62 standard deviations.
Paper idea at ±2 sd (long the laggard, short the leader), out at ±4 sd or when the gap closes; no time exit.
AWK / WTRGAmerican Water Works Company Inc. · Essential Utilities Inc.Measured twin
AWK $143.23 +6.29%WTRG $43.30 +6.28%· Water Supply
−1.29 / ±2 sd
Mean reversion ADF t −3.09
AWK and WTRG moved together for a year and their gap has a measured habit of closing. At the 2026-10-22 close WTRG was ahead by 1.29 standard deviations.
Paper idea at ±2 sd (long the laggard, short the leader), out at ±4 sd or when the gap closes; no time exit.
EXC / XELExelon Corporation · Xcel Energy Inc.Measured twin
EXC $44.85 +4.18%XEL $78.90 +2.76%· Power Generation
−1.02 / ±2 sd
Mean reversion ADF t −3.17
EXC and XEL moved together for a year and their gap has a measured habit of closing. At the 2026-10-22 close XEL was ahead by 1.02 standard deviations.
Paper idea at ±2 sd (long the laggard, short the leader), out at ±4 sd or when the gap closes; no time exit.
DHI / PHMD.R. Horton Inc. · PulteGroup Inc.Measured twin
DHI $147.66 +6.25%PHM $119.48 +5.84%· Homebuilding
+0.91 / ±2 sd
Mean reversion ADF t −3.07
DHI and PHM moved together for a year and their gap has a measured habit of closing. At the 2026-10-22 close DHI was ahead by 0.91 standard deviations.
Paper idea at ±2 sd (long the laggard, short the leader), out at ±4 sd or when the gap closes; no time exit.
BX / KKRBlackstone Inc. · KKR & Co. Inc.Measured twin
BX $118.75 +8.38%KKR $93.09 +3.58%· Investment Managers
+0.80 / ±2 sd
Mean reversion ADF t −3.53
BX and KKR moved together for a year and their gap has a measured habit of closing. At the 2026-10-22 close BX was ahead by 0.80 standard deviations.
Paper idea at ±2 sd (long the laggard, short the leader), out at ±4 sd or when the gap closes; no time exit.
FIX / PWRComfort Systems USA Inc. · Quanta Services Inc.Measured twin
FIX $1,279.37 −8.70%PWR $552.44 −8.10%· Engineering & Construction
−0.78 / ±2 sd
Mean reversion ADF t −3.09
FIX and PWR moved together for a year and their gap has a measured habit of closing. At the 2026-10-22 close PWR was ahead by 0.78 standard deviations.
Paper idea at ±2 sd (long the laggard, short the leader), out at ±4 sd or when the gap closes; no time exit.
COHR / KLACCoherent Corp. · KLA CorporationMeasured twin
COHR $207.82 −12.51%KLAC $147.83 −9.55%· SIC 3827 Optical Instruments & Lenses
−0.64 / ±2 sd
Mean reversion ADF t −3.16
COHR and KLAC moved together for a year and their gap has a measured habit of closing. At the 2026-10-22 close KLAC was ahead by 0.64 standard deviations.
Paper idea at ±2 sd (long the laggard, short the leader), out at ±4 sd or when the gap closes; no time exit.
A / WATAgilent Technologies Inc. · Waters CorporationMeasured twin
A $173.89 −2.17%WAT $455.59 −0.41%· Biotechnology: Laboratory Analytical Instruments
+0.61 / ±2 sd
Mean reversion ADF t −3.33
A and WAT moved together for a year and their gap has a measured habit of closing. At the 2026-10-22 close A was ahead by 0.61 standard deviations.
Paper idea at ±2 sd (long the laggard, short the leader), out at ±4 sd or when the gap closes; no time exit.
JBHT / KNXJ.B. Hunt Transport Services Inc. · Knight-Swift Transportation Holdings Inc.Measured twin
JBHT $230.59 +0.87%KNX $62.52 −1.08%· SIC 4213 Trucking (No Local)
−0.37 / ±2 sd
Mean reversion ADF t −3.85
JBHT and KNX moved together for a year and their gap has a measured habit of closing. At the 2026-10-22 close KNX was ahead by 0.37 standard deviations.
Paper idea at ±2 sd (long the laggard, short the leader), out at ±4 sd or when the gap closes; no time exit.
HLT / MARHilton Worldwide Holdings Inc. · Marriott InternationalMeasured twin
HLT $358.07 −1.15%MAR $396.80 −1.78%· Hotels/Resorts
−0.34 / ±2 sd
Mean reversion ADF t −3.74
HLT and MAR moved together for a year and their gap has a measured habit of closing. At the 2026-10-22 close MAR was ahead by 0.34 standard deviations.
Paper idea at ±2 sd (long the laggard, short the leader), out at ±4 sd or when the gap closes; no time exit.
CVX / XOMChevron Corporation · ExxonMobil Holdings CorporationMeasured twin
CVX $226.68 −0.04%XOM $178.23 +0.08%· Integrated oil Companies
+0.33 / ±2 sd
Mean reversion ADF t −3.49
CVX and XOM moved together for a year and their gap has a measured habit of closing. At the 2026-10-22 close CVX was ahead by 0.33 standard deviations.
Paper idea at ±2 sd (long the laggard, short the leader), out at ±4 sd or when the gap closes; no time exit.
DGX / LHQuest Diagnostics Incorporated · Labcorp Holdings Inc.Measured twin
DGX $243.28 +1.82%LH $329.93 +1.91%· SIC 8071 Services-Medical Laboratories
+0.33 / ±2 sd
Mean reversion ADF t −3.58
DGX and LH moved together for a year and their gap has a measured habit of closing. At the 2026-10-22 close DGX was ahead by 0.33 standard deviations.
Paper idea at ±2 sd (long the laggard, short the leader), out at ±4 sd or when the gap closes; no time exit.
DUK / XELDuke Energy Corporation (Holding Company) · Xcel Energy Inc.Measured twin
DUK $125.40 +3.92%XEL $78.90 +2.76%· Power Generation
+0.29 / ±2 sd
Mean reversion ADF t −2.94
DUK and XEL moved together for a year and their gap has a measured habit of closing. At the 2026-10-22 close DUK was ahead by 0.29 standard deviations.
Paper idea at ±2 sd (long the laggard, short the leader), out at ±4 sd or when the gap closes; no time exit.
EME / FIXEMCOR Group Inc. · Comfort Systems USA Inc.Measured twin
EME $660.41 −5.54%FIX $1,279.37 −8.70%· Engineering & Construction
−0.12 / ±2 sd
Mean reversion ADF t −3.38
EME and FIX moved together for a year and their gap has a measured habit of closing. At the 2026-10-22 close the gap was by 0.12 standard deviations.
Paper idea at ±2 sd (long the laggard, short the leader), out at ±4 sd or when the gap closes; no time exit.
APO / BXApollo Global Management Inc. (New) · Blackstone Inc.Measured twin
APO $114.83 +2.81%BX $118.75 +8.38%· Investment Managers
−0.11 / ±2 sd
Mean reversion ADF t −3.23
APO and BX moved together for a year and their gap has a measured habit of closing. At the 2026-10-22 close the gap was by 0.11 standard deviations.
Paper idea at ±2 sd (long the laggard, short the leader), out at ±4 sd or when the gap closes; no time exit.
CAH / MCKCardinal Health Inc. · McKesson CorporationMeasured twin
CAH $255.64 −0.71%MCK $1,012.34 −0.31%· Other Pharmaceuticals
−0.04 / ±2 sd
Mean reversion ADF t −3.13
CAH and MCK moved together for a year and their gap has a measured habit of closing. At the 2026-10-22 close the gap was by 0.04 standard deviations.
Paper idea at ±2 sd (long the laggard, short the leader), out at ±4 sd or when the gap closes; no time exit.
GEVGE VernovaAI radar · Power delivery
GEV $827.42 −10.64%· Gas and wind turbines, grid equipment
+37.0% backlog y/y
Makes gas turbines and grid equipment (transformers, switchgear, HVDC). If data-center demand keeps power equipment scarce, a long order book can support prices and margins.
3 invalidation checks on the radar page; 0 triggered. SEC numbers as reported, with their filing dates.
PWRQuanta ServicesAI radar · Power delivery
PWR $552.44 −8.10%· Builds and upgrades transmission, substations and data-center connections
+75.1% backlog y/y
Builds and upgrades transmission lines, substations and large-load connections. More data-center load means more grid work, which shows up in its remaining performance obligations.
2 invalidation checks on the radar page; 0 triggered. SEC numbers as reported, with their filing dates.
ETNEatonAI radar · Power delivery
ETN $368.99 −6.33%· Switchgear, power distribution and data-center electrical systems
+15.5% revenue y/y
Sells switchgear, transformers and power-distribution systems into data centers and utilities. Electrical gear is one of the slowest items to source for a new data center.
2 invalidation checks on the radar page; 0 triggered. SEC numbers as reported, with their filing dates.
VRTVertivAI radar · Power delivery
VRT $206.08 −0.16%· Data-center power distribution and liquid cooling
+26.2% revenue y/y
Makes data-center power distribution, UPS and cooling systems. Denser AI racks need more power and liquid cooling per square foot.
2 invalidation checks on the radar page; 0 triggered. SEC numbers as reported, with their filing dates.
MUMicron TechnologyAI radar · Memory (HBM and DRAM)
MU $856.49 −6.26%· DRAM, NAND and high-bandwidth memory (HBM)
+256.3% revenue y/y
One of the three companies that make HBM, the memory stacked next to AI accelerators. Tight HBM supply can lift memory prices and margins.
3 invalidation checks on the radar page; 0 triggered. SEC numbers as reported, with their filing dates.
VSTVistra Corp.AI radar · Nuclear power for AIRESEARCH ONLY
Not priced (research only)· Integrated power generation and retail electricity: nuclear, gas, coal, solar and storage
+3.8% revenue y/y
Owns nuclear plants that already produce and sell electricity, and Meta named three of them in its January 2026 nuclear announcement. More data-center demand can raise the value of existing carbon-free baseload power.
Research only: this theme is never priced or traded.
LEUCentrus Energy Corp.AI radar · Nuclear power for AIRESEARCH ONLY
Not priced (research only)· Nuclear fuel: low-enriched uranium (LEU) supply and high-assay low-enriched uranium (HALEU) enrichment
+8.5% revenue y/y
Most advanced reactor designs are expected to need HALEU, and Centrus is producing it today under an NRC license (more than 1,900 kg of HALEU UF6 so far) with a DOE expansion contract and a signed enrichment contract with X-energy. Scarce fuel could be a bottleneck that pays.
Research only: this theme is never priced or traded.
XEX-Energy, Inc.AI radar · Nuclear power for AIRESEARCH ONLY
Not priced (research only)· Small modular reactor (Xe-100) and TRISO-X fuel developer
-
Develops factory-built modular reactors and their fuel, with an Amazon investment and a planned Energy Northwest project. If AI data centers need new firm power, early reactor developers with fuel supply and anchor customers could be positioned for it.
Research only: this theme is never priced or traded.
OKLOOklo Inc.AI radar · Nuclear power for AIRESEARCH ONLY
Not priced (research only)· Fast-fission power plant developer; isotope and test-reactor activity
-
Meta signed a development partnership for an Oklo nuclear campus in Pike County, Ohio, and Oklo's Groves test reactor reached first criticality in August 2026. Reactors built to serve data-center regions are a direct bet on AI power demand.
Research only: this theme is never priced or traded.
SMRNuScale Power CorporationAI radar · Nuclear power for AIRESEARCH ONLY
Not priced (research only)· Small modular reactor designer (NuScale Power Module)
−80.9% revenue y/y
Holds an NRC standard design approval for its US460 small modular reactor (six 77-MWe modules, 462 MWe), and its partner ENTRA1 is negotiating with TVA toward a large deployment program. A licensed design can shorten the path to new firm power for data centers.
Research only: this theme is never priced or traded.
TSMC 6-KForeign issuer reportSEC filingNEW
TSM $412.35 −4.52%
3 links
TSMC filed a 6-K (Foreign issuer report). It reaches NVIDIA, AMD, Broadcom through sourced relationships in the dependency map.
Accepted 2026-10-22 06:02 ET (SEC acceptance time). LEADLAG-1 measures how linked companies move after filings like this; no read before 30 scored events.
Meta Platforms 10-QQuarterly reportSEC filingNEW
META $648.85 −6.98%
2 links
Meta Platforms filed a 10-Q (Quarterly report). It reaches AMD, CoreWeave through sourced relationships in the dependency map.
Accepted 2026-10-21 20:00 ET (SEC acceptance time). LEADLAG-1 measures how linked companies move after filings like this; no read before 30 scored events.
Meta Platforms 8-KCurrent reportSEC filingNEW
META $648.85 −6.98%
2 links
Meta Platforms filed a 8-K (Current report). It reaches AMD, CoreWeave through sourced relationships in the dependency map.
Accepted 2026-10-21 16:03 ET (SEC acceptance time). LEADLAG-1 measures how linked companies move after filings like this; no read before 30 scored events.
TSMC 6-KForeign issuer reportSEC filing
TSM $412.35 −4.52%
3 links
TSMC filed a 6-K (Foreign issuer report). It reaches NVIDIA, AMD, Broadcom through sourced relationships in the dependency map.
Accepted 2026-10-15 06:40 ET (SEC acceptance time). LEADLAG-1 measures how linked companies move after filings like this; no read before 30 scored events.
Micron 10-KAnnual reportSEC filing
MU $856.49 −6.26%
2 links
Micron filed a 10-K (Annual report). It reaches Anthropic, NVIDIA through sourced relationships in the dependency map.
Accepted 2026-10-09 08:21 ET (SEC acceptance time). LEADLAG-1 measures how linked companies move after filings like this; no read before 30 scored events.
TSMC 6-KForeign issuer reportSEC filing
TSM $412.35 −4.52%
3 links
TSMC filed a 6-K (Foreign issuer report). It reaches NVIDIA, AMD, Broadcom through sourced relationships in the dependency map.
Accepted 2026-10-08 06:12 ET (SEC acceptance time). LEADLAG-1 measures how linked companies move after filings like this; no read before 30 scored events.
Micron 8-KCurrent reportSEC filing
MU $856.49 −6.26%
2 links
Micron filed a 8-K (Current report). It reaches Anthropic, NVIDIA through sourced relationships in the dependency map.
Accepted 2026-09-30 16:02 ET (SEC acceptance time). LEADLAG-1 measures how linked companies move after filings like this; no read before 30 scored events.
AMD 8-KCurrent reportSEC filing
AMD $507.93 −8.10%
3 links
AMD filed a 8-K (Current report). It reaches OpenAI, Meta Platforms, TSMC through sourced relationships in the dependency map.
Accepted 2026-09-28 16:16 ET (SEC acceptance time). LEADLAG-1 measures how linked companies move after filings like this; no read before 30 scored events.
TSMC 6-KForeign issuer reportSEC filing
TSM $412.35 −4.52%
3 links
TSMC filed a 6-K (Foreign issuer report). It reaches NVIDIA, AMD, Broadcom through sourced relationships in the dependency map.
Accepted 2026-09-24 06:02 ET (SEC acceptance time). LEADLAG-1 measures how linked companies move after filings like this; no read before 30 scored events.
CoreWeave 8-KCurrent reportSEC filing
CRWV $55.60 −10.06%
4 links
CoreWeave filed a 8-K (Current report). It reaches OpenAI, Microsoft, Meta Platforms, NVIDIA through sourced relationships in the dependency map.
Accepted 2026-09-22 16:17 ET (SEC acceptance time). LEADLAG-1 measures how linked companies move after filings like this; no read before 30 scored events.
CoreWeave 8-KCurrent reportSEC filing
CRWV $55.60 −10.06%
4 links
CoreWeave filed a 8-K (Current report). It reaches OpenAI, Microsoft, Meta Platforms, NVIDIA through sourced relationships in the dependency map.
Accepted 2026-09-17 07:13 ET (SEC acceptance time). LEADLAG-1 measures how linked companies move after filings like this; no read before 30 scored events.
Amazon 8-KCurrent reportSEC filing
AMZN $250.38 −4.57%
2 links
Amazon filed a 8-K (Current report). It reaches OpenAI, Anthropic through sourced relationships in the dependency map.
Accepted 2026-09-14 16:45 ET (SEC acceptance time). LEADLAG-1 measures how linked companies move after filings like this; no read before 30 scored events.
