1. A method, comprising: receiving a bit-level netlist defining a plurality of registers; analyzing propagation of read data associated with the registers through logic of the bit-level netlist; and forming a plurality of vector-level bundles of registers based on the propagation of read data through the logic, wherein the plurality of vector-level bundles differ based on differences in references to memory arrays of the bit-level netlist by respective registers of the vector-level bundles.