Hedgebook
Edition 2026.08.25
KXKRAKENBANKPUBLIC-27JAN01-BOA5.5%5¢ / 6¢KXKRAKENBANKPUBLIC-27JAN01-CITI58.5%22¢ / 95¢KXKRAKENBANKPUBLIC-27JAN01-JPM21.5%19¢ / 24¢KXKRAKENBANKPUBLIC-27JAN01-MS7%6¢ / 8¢KXNATGASD-26AUG2617-T348.5%0¢ / 97¢KXNATGASMON-26AUG3117-T2.9999%8¢ / 10¢KXNGASMAX-26DEC31-P7.0021.5%17¢ / 26¢KXTARIFFRATEPRC-27JAN01-1057.5%53¢ / 62¢KXWTI-26NOV03-T101.998.5%7¢ / 10¢KXWTIW-26AUG2814-T99.990.5%0¢ / 1¢
Topology

The shape of the catalogue

Hedgebook records 24 company-market links: 500 S&P 500 constituents with variable evidence-backed references. This page aggregates those links two ways — by GICS sector against risk channel, and by how much index market capitalization each market's referenced companies represent.

Sector x risk channel
Sector \ channelInput costsDemand volumePolicy accessRevenue state
Information Technology73 cos··1$237B·
Financials76 cos···4$1.70T
Communication Services20 cos····
Consumer Discretionary48 cos····
Industrials79 cos····
Health Care59 cos····
Consumer Staples36 cos····
Energy21 cos6$952B1$91.4B·3$140B
Utilities31 cos5$115B···
Materials26 cos····
Real Estate31 cos····
Cell count: companies in the sector with at least one link in the channelless referenced capmore referenced cap

Shading weights each cell by the referenced companies' index market capitalization — market cap referenced, not exposure measured.

Markets carrying the most S&P market cap
01Input Cost

WTI front-month settles above $101.99/bbl on Nov. 3, 2026

5 companies referenced

$913Breferenced cap8.5%active2026.11.0302Revenue State

JPMorgan Chase takes Kraken public before Jan. 1, 2027

1 companies referenced

$817Breferenced cap21.5%active2027.01.0103Revenue State

Bank of America takes Kraken public before Jan. 1, 2027

1 companies referenced

$360Breferenced cap5.5%active2027.01.0104Input Cost

Natural gas closes above $3/MMBtu on Aug. 26, 2026

6 companies referenced

$347Breferenced cap48.5%active2026.08.2605Revenue State

Morgan Stanley takes Kraken public before Jan. 1, 2027

1 companies referenced

$303Breferenced cap7%active2027.01.0106Demand Volume

Oct. WTI settles above $99.99/bbl on Aug. 28, 2026

5 companies referenced

$271Breferenced cap0.5%active2026.08.2807Policy Access

U.S. tariff rate on China imports at least 20% on Jan. 1, 2027

1 companies referenced

$237Breferenced cap57.5%active2027.01.0808Revenue State

Citigroup takes Kraken public before Jan. 1, 2027

1 companies referenced

$216Breferenced cap58.5%active2027.01.0109Input Cost

Henry Hub spot gas above $7/MMBtu before Jan. 1, 2027

2 companies referenced

$45.3Breferenced cap21.5%active2027.01.0210Input Cost

Natural gas closes above $2.999/MMBtu on Aug. 31, 2026

1 companies referenced

$12.1Breferenced cap9%active2026.08.31

The cap column sums the index market capitalization of the companies whose dossiers reference each market — market cap referenced, not exposure measured.