Each name’s share of portfolio variance at the three declared windows, sized by the actual positions — the number a vendor without position sizes cannot compute. An option counts as its delta times spot, never its notional, which is why WDC nets short here: the puts outweigh the shares. Cash is at par and outside the table; the pairs module says which names move together.

core.broker_lots (imported 2026-09-15 17:06 ET, lots derived 2026-09-15 17:07 ET, last trade 2026-09-14) · close_adj from core.metric_daily to 2026-09-22 · deltas from core.option_strikes · positions opened after 2026-09-14 are invisible here

Every pair at 21, 63 and 252 sessions, each with its noise floor of about 1/√(n−3): a correlation from 21 observations carries ±0.24, so two names that truly move independently routinely show |rho| of 0.3 over three weeks. A reading within two floors of zero is marked. At 63d, 3 of 6 pairs are inside it. The regimes module says whether the average held when it mattered.

The same pairs over their whole shared history, split by the stored regime label (Regime Monitor’s code: trend × volatility). Correlation in a drawdown is the only correlation that matters for a concentration question, and it is not the average one. A cell below 20 sessions is withheld, and a change from calm to stressed within two combined standard errors (each cell’s 1/√(n−3)) is marked as noise. Descriptive: nothing here is graded against what followed.

Each pair’s rolling 63-session rho ranked among every earlier window of the same length — the pair against itself, never against another pair. Windows overlap 62/63, so the floor is 756 shared sessions (twelve independent windows): with fewer, a percentile pins at the ends and reports the sample, not the pair. Never reported at 252d, where even the four-year pairs have four independent windows.

The book before and after a hypothetical position, at the same 63d window on both sides — comparing a 63-day before with a 21-day after would attribute the window to the trade. Any of the 39 names with a close_adj series; the amount is delta-adjusted dollars, so a share position is its market value. Adds to a name already held.

?candidate=STX&dollars=20000 · the same exposure rule as the book module

The per-holding driver map DESIGN asks for (XOM to WTI, TSM to USD/TWD) cannot be drawn: no commodity, FX or memory-spot series exists in the warehouse. Measured 2026-09-23, core.macro_observations holds 5 series, all CBOE volatility indices, and core.fred_observations holds 20 - rates, spreads, the Fed balance sheet and the macro prints - with no DCOILWTICO and no DEXTAUS; 0 registered metrics match oil, WTI, TWD, FX or DRAM. XOM is in the universe but not held, and TSM is not in the 39-name universe at all. The strip below is a factor-proxy view inside the stored universe, labelled as such, not a substitute for the map.