{
  "schema": "home_shock_routes.v1",
  "routes": [
    {
      "commodity": "crude_oil",
      "shock": "Crude oil +3.1%",
      "route": "airline margin watch",
      "companies": [
        "DAL",
        "UAL",
        "AAL",
        "XOM",
        "CVX"
      ],
      "next_evidence": [
        "crack spreads",
        "load factor",
        "OPEC spare capacity"
      ]
    },
    {
      "commodity": "copper",
      "shock": "Copper grid pressure",
      "route": "electrification capex route",
      "companies": [
        "FCX",
        "SCCO",
        "NEM"
      ],
      "next_evidence": [
        "China construction impulse",
        "LME/COMEX spread",
        "grid capex"
      ]
    },
    {
      "commodity": "gold",
      "shock": "Gold real-yield sensitivity",
      "route": "miner margin route",
      "companies": [
        "NEM",
        "GOLD",
        "AEM"
      ],
      "next_evidence": [
        "real yields",
        "central-bank buying",
        "ETF flow"
      ]
    }
  ]
}