{
  "n_purchases": 11778,
  "n_members": 88,
  "n_tickers": 1048,
  "window": [
    "2023-01-03",
    "2026-06-30"
  ],
  "winsor": [
    -134.6,
    376.5
  ],
  "share_in_jurisdiction_pct": 2.8,
  "pooled": {
    "beta": -21.18,
    "beta_raw": -25.23,
    "ci95": [
      -38.31,
      -9.33
    ],
    "p_boot": 0.0,
    "contains_zero": false,
    "n_members_with_ij": 42,
    "n": 11778,
    "n_in": 325,
    "mean_in": -21.34,
    "mean_out": -6.61,
    "median_in": -21.58,
    "median_out": -14.3
  },
  "forest": [
    {
      "group": "defense",
      "label": "Armed Services \u00d7 defense",
      "n_trades": 6649,
      "n_in": 35,
      "n_members": 6,
      "beta": -17.02,
      "ci95": [
        -28.68,
        -5.08
      ],
      "p_boot": 0.003,
      "contains_zero": false,
      "mean_in": -14.41,
      "mean_out": -8.44,
      "median_in": -16.76,
      "median_out": -13.08
    },
    {
      "group": "energy",
      "label": "Energy cmtes \u00d7 oil/gas/utilities",
      "n_trades": 310,
      "n_in": 22,
      "n_members": 7,
      "beta": -23.41,
      "ci95": [
        -46.85,
        27.86
      ],
      "p_boot": 0.2926,
      "contains_zero": true,
      "mean_in": -22.63,
      "mean_out": -1.5,
      "median_in": -13.64,
      "median_out": -16.39
    },
    {
      "group": "finance",
      "label": "Banking/FinServ \u00d7 finance",
      "n_trades": 1536,
      "n_in": 149,
      "n_members": 11,
      "beta": -9.17,
      "ci95": [
        -43.57,
        1.18
      ],
      "p_boot": 0.0895,
      "contains_zero": true,
      "mean_in": -9.5,
      "mean_out": 1.98,
      "median_in": -12.8,
      "median_out": -8.23
    },
    {
      "group": "health",
      "label": "E&C/HELP \u00d7 health",
      "n_trades": 415,
      "n_in": 63,
      "n_members": 8,
      "beta": -50.84,
      "ci95": [
        -69.25,
        -20.78
      ],
      "p_boot": 0.0005,
      "contains_zero": false,
      "mean_in": -48.7,
      "mean_out": -1.29,
      "median_in": -57.61,
      "median_out": -16.93
    },
    {
      "group": "agriculture",
      "label": "Agriculture \u00d7 farm",
      "n_trades": 764,
      "n_in": 8,
      "n_members": 4,
      "note": "fewer than 20 in-jurisdiction purchases; no fit",
      "mean_in": 1.95,
      "mean_out": -6.34,
      "median_in": -5.49,
      "median_out": -12.14
    },
    {
      "group": "transport_telecom",
      "label": "T&I/Commerce \u00d7 transport/telecom",
      "n_trades": 1170,
      "n_in": 48,
      "n_members": 14,
      "beta": -25.72,
      "ci95": [
        -42.09,
        -10.49
      ],
      "p_boot": 0.0005,
      "contains_zero": false,
      "mean_in": -30.51,
      "mean_out": -0.18,
      "median_in": -24.99,
      "median_out": -14.11
    }
  ],
  "sensitivity": {
    "top_trader_bioguide": "K000389",
    "top_trader_n": 5745,
    "excl_top_trader": {
      "beta": -21.12,
      "ci95": [
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        -9.13
      ],
      "p_boot": 0.0
    },
    "leave_one_out_beta_range": [
      -26.19,
      -17.09
    ]
  },
  "mean_excess_all": -7.02,
  "median_excess_all": -14.51
}