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. This is 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 company referenced

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

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

1 company 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 company 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 company referenced

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

Citigroup takes Kraken public before Jan. 1, 2027

1 company 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 company referenced

$12.1Breferenced cap9%active2026.08.31

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