{
  "url": "https://struct.news/briefs/twenty-three-stocks-from-nine-sectors-are-suddenly-moving-together",
  "title": "Twenty-three stocks from nine sectors are suddenly moving together",
  "summary": "Adobe, Workday, Coca-Cola, banks, and healthcare names are trading far more similarly than their history suggests, even after broad-market moves are removed.",
  "published_at": "2026-08-10T23:47:59.446027+00:00",
  "publisher": "Struct",
  "usage": "Figures are as reported by the company. Quote with attribution to the source filing.",
  "company": {
    "name": null,
    "ticker": null,
    "cik": null,
    "sector": null,
    "industry": null
  },
  "source_filing": null,
  "comparison_filing": null,
  "reported_figures": [
    {
      "group": "The correlation jump",
      "label": "Recent correlation",
      "value": 0.6245,
      "display": "0.62",
      "unit": "number",
      "period": null,
      "detail": null,
      "source": {
        "kind": "jodie_evidence",
        "label": "Broad-market moves removed",
        "as_of": "2026-08-10"
      }
    },
    {
      "group": "The correlation jump",
      "label": "Usual correlation",
      "value": -0.0099,
      "display": "-0.01",
      "unit": "number",
      "period": null,
      "detail": null,
      "source": {
        "kind": "jodie_evidence",
        "label": "Broad-market moves removed",
        "as_of": "2026-08-10"
      }
    },
    {
      "group": "The correlation jump",
      "label": "Above normal",
      "value": 3.41,
      "display": "3.4σ",
      "unit": "sigma",
      "period": null,
      "detail": null,
      "source": {
        "kind": "jodie_evidence",
        "label": "Broad-market moves removed",
        "as_of": "2026-08-10"
      }
    }
  ],
  "watch_next": [
    {
      "type": "supply_chain",
      "statement": "Ecolab reported a 2.2-point margin impact from higher supply-chain costs, including commodity inflation, partly offsetting pricing gains.",
      "importance": "medium",
      "evidence": "Organic operating income margins increased 0.5 percentage points during the second quarter of 2026 as the 3.0 percentage point positive impact from accelerating pricing was partially offset by the 2.2 percentage point impact of higher supply chain costs, including commodity cost inflation, and investments in the business.",
      "source_date": "2026-08-06"
    },
    {
      "type": "liquidity_financing",
      "statement": "On June 5, 2026 the company entered a Third Amended and Restated Credit Agreement with JPMorgan and others; the Revolving Credit Facility contains an expansion option up to $1,000M, subject to lender approval.",
      "importance": "high",
      "evidence": "The Revolving Credit Facility contains an expansion option for up to an additional $1,000 million of borrowing capacity, subject to the approval of participating lenders.",
      "source_date": "2026-07-27"
    },
    {
      "type": "input_costs",
      "statement": "Gross margin change reported as primarily due to incremental tariffs on domestic goods, partially offset by pricing and mix.",
      "importance": "medium",
      "evidence": "Gross margin decreased to 57.7% from 57.9% , compared to the prior period , primarily due to incremental tariffs on domestic goods and a slightly unfavorable channel mix ; partially offset by cost‑sharing arrangements, strategic price increases, and favorable product mix, along with slightly favorable foreign currency exchange rate fluctuations and freight costs.",
      "source_date": "2026-05-22"
    },
    {
      "type": "input_costs",
      "statement": "Total share-based compensation expense decreased $50M to $409M (16.1% of revenues) for the quarter, down from $459M (20.5%), primarily due to reduced restructuring expenses.",
      "importance": "medium",
      "evidence": "Total share-based compensation expense $ 409 $ 459 Percentage of total revenues 16.1 % 20.5 % Share-based compensation expense decreased by $50 million for the three months ended April 30, 2026, compared to the prior year period, primarily due to a reduction in restructuring expenses.",
      "source_date": "2026-05-22"
    }
  ],
  "related_tickers": [
    "ADBE",
    "ADP",
    "ADSK",
    "BJ",
    "BRO",
    "BSY",
    "DECK",
    "ECL",
    "RELX",
    "WDAY"
  ],
  "disclaimer": "Descriptive reporting of filed results. Not investment advice, and contains no forecast or recommendation."
}