K2-CPM captures variability while preserving transit signals in Kepler data. Working at the pixel level, the model captures very fine-grained information about the variation of the spacecraft. The CPM models the systematic effects in the time series of a pixel using the pixels of many other stars and the assumption that any shared signal in these causally disconnected light curves is caused by instrumental effects. The target star's future and past are used and the data points are separated into training and test sets to ensure that information about any transit is perfectly isolated from the model. The method has four tuning parameters, the number of predictor stars or pixels, the autoregressive window size, and two L2-regularization amplitudes for model components, and consistently produces low-noise light curves.