Upshot API: the dependency graph of the public markets

Signals the market prices in slowly.

A supplier's guidance cut reaches its customers' prints a quarter later. Build linkage signals on the graph as it stood on any date. Every edge records when it became knowable from a filing, so as_of queries keep lookahead out of the backtest.

Bulk exports ship the full bitemporal history straight into your research environment.

# the linkage graph as of the rebalance date
curl -H "X-API-Key: $UPSHOT_KEY" \
  "https://upshot-api.com/v1/companies/MU/relationships\
?as_of=2026-03-31T00:00:00Z&min_confidence=0.8"

A week of filings. One call.

Every disclosed customer, supplier, licensor, and creditor of a name in one response, assembled from 10-Ks, exhibits, and 8-Ks, so the first day of diligence isn't spent in EDGAR.

Each edge cites the verbatim sentence it was extracted from, filing and character offsets included: the memo footnotes itself.

curl -H "X-API-Key: $UPSHOT_KEY" \
  "https://upshot-api.com/v1/companies/CAT/relationships"

# → CUSTOMER_OF · conf 0.9
# → evidence: 10-K Item 1A, offsets 84,211-84,309

Who is exposed when a link fails?

Start from a failing supplier, a canceled customer, a downgraded creditor, and traverse outward. The blast-radius endpoint returns the exposed names hop by hop, with disclosed revenue-concentration magnitudes where the filings state them.

Dependency risk sits behind many of the sharpest single-stock moves; here it's a query, not a scramble.

# two hops out from a failing supplier
curl -H "X-API-Key: $UPSHOT_KEY" \
  "https://upshot-api.com/v1/blast-radius\
?epicenter=TSM&hops=2"

Related companies, as a feature.

Ship “companies connected to the stock you're viewing” inside a brokerage or research product over plain REST, with entity resolution across name variants included.

Evidence links ride along with every edge, so it's a feature compliance can sign off on. Redistribution licensing is handled separately, so get in touch if you need it.

# everything connected to the symbol on screen
curl -H "X-API-Key: $UPSHOT_KEY" \
  "https://upshot-api.com/v1/companies/{symbol}/relationships\
?min_confidence=0.8"

Edges

Eleven relation types, and this is all of them. Every edge is directed, so src and dst read one way only, and every edge carries the verbatim filing text it was extracted from. Counts below are live from /v1/stats.

Type src → dst reads as What it answers Edges

Commercial

CUSTOMER_OF src buys from dst Revenue concentration, and who takes the hit when a large buyer cuts orders. 17,676

SUPPLIER_TO src supplies dst The input side: single-source exposure and where cost shocks pass through. 13,862

PARTNER_WITH src and dst disclose a partnership, JV or alliance Read-through from one side's guidance to the other side of the deal. 19,296

DEPENDS_ON_INFRA src runs on dst's infrastructure Cloud, foundry and logistics chokepoints, and the names that share them. 3,513

COMPETES_WITH src names dst as a competitor Peer sets as companies name them, not as a sector classification assigns them. 46,901

Corporate structure

SUBSIDIARY_OF src is a subsidiary of dst Exhibit 21 rolled up, so news about an obscure entity lands on the right parent. 364,808

Intellectual property

LICENSES_FROM src licenses IP or technology from dst Royalty dependence, and what stops working when a licence lapses. 5,668

LICENSES_TO src licenses IP or technology to dst The income side of the same agreement. 3,296

Credit

LENDER_TO src lends to dst Who is carrying the paper when a borrower runs into trouble. 6,852

CREDITOR_OF src is owed by dst Receivable exposure to a counterparty that may not pay. 1,170

Ownership

OWNS src, a 13F filer, holds dst's stock Institutional holders and crowding, from 13F filings. 30,405

513,447 edges across 5,452 companies, from 52,721 filings. OWNS is opt-in per call, since a large cap has hundreds of holders. Full field reference in the API docs.

Point-in-time honest

The graph as it was knowable, not as it is now.

Every edge records two clocks: when the relationship held in the world, and when it became knowable from a filing. Pass as_of on any read and backtests stop leaking the future into the past.

# the graph a fund could have known on June 30
curl -H "X-API-Key: $UPSHOT_KEY" \
  "https://upshot-api.com/v1/companies/NVDA/relationships\
?as_of=2026-06-30T00:00:00Z&min_confidence=0.8"

# → PARTNER_WITH OpenAI · conf 0.85
# → evidence: 10-K MD&A, offsets 191,204-191,275

The dependency graph of the public markets

Evidence · click any node