{
  "run": "006-congress-lobbying-overlap",
  "as_of": "2026-07-13",
  "source": "QuiverQuant congress trading + lobbying; market caps via yfinance",
  "congress_window": "2024-01 onward",
  "lobbying_window": 2025,
  "n_tickers_traded": 1825,
  "n_tickers_lobbied": 1038,
  "n_both": 561,
  "total_congress_trades": 25434,
  "pct_trades_in_lobbyers": 61.4,
  "n": 541,
  "simple_members_vs_lobbying": {
    "slope": 0.314,
    "r2": 0.274,
    "p": 2.579903672460426e-39
  },
  "simple_members_vs_marketcap": {
    "slope": 0.472,
    "r2": 0.581,
    "p": 8.784113528508004e-104
  },
  "partial_model": {
    "r2": 0.599,
    "lobbying_coef": 0.097,
    "lobbying_t": 5.0,
    "lobbying_p": 7.916778199668073e-07,
    "marketcap_coef": 0.418,
    "marketcap_t": 20.91,
    "marketcap_p": 0.0
  },
  "lobbying_partial_r2": 0.0443,
  "lobbying_slope_survival_pct": 31.0,
  "resid_sd": 0.273,
  "top_overlap": [
    {
      "ticker": "MSFT",
      "lobbying": 12170000,
      "members": 51,
      "trades": 343,
      "mktcap_b": 2860.7
    },
    {
      "ticker": "NVDA",
      "lobbying": 4150000,
      "members": 41,
      "trades": 259,
      "mktcap_b": 5109.7
    },
    {
      "ticker": "AAPL",
      "lobbying": 11940000,
      "members": 51,
      "trades": 247,
      "mktcap_b": 4631.2
    },
    {
      "ticker": "AMZN",
      "lobbying": 24800000,
      "members": 38,
      "trades": 228,
      "mktcap_b": 2639.1
    },
    {
      "ticker": "GOOGL",
      "lobbying": 17815000,
      "members": 34,
      "trades": 173,
      "mktcap_b": 4358.5
    },
    {
      "ticker": "UNH",
      "lobbying": 16950000,
      "members": 32,
      "trades": 167,
      "mktcap_b": 385.6
    },
    {
      "ticker": "BRK.B",
      "lobbying": 780000,
      "members": 24,
      "trades": 157,
      "mktcap_b": 1064.9
    },
    {
      "ticker": "AVGO",
      "lobbying": 3030000,
      "members": 25,
      "trades": 155,
      "mktcap_b": 1902.9
    },
    {
      "ticker": "JPM",
      "lobbying": 6080000,
      "members": 33,
      "trades": 140,
      "mktcap_b": 901.6
    },
    {
      "ticker": "V",
      "lobbying": 33000000,
      "members": 29,
      "trades": 134,
      "mktcap_b": 663.7
    },
    {
      "ticker": "HD",
      "lobbying": 3680000,
      "members": 24,
      "trades": 132,
      "mktcap_b": 342.3
    },
    {
      "ticker": "JNJ",
      "lobbying": 11020000,
      "members": 29,
      "trades": 127,
      "mktcap_b": 618.6
    }
  ]
}