Harmonic vibration of the barrel. Based on the velocity, each load has a different "dwell time" in the barrel, so leaves the muzzle at a different point in it's vibration cycle. A "tuned" load leaves at the same point each time and it happen to be a point where the barrel is "stable". It's an "accuracy node" where minor variation in powder charges don't print differently on target.
That's the short layman's description.
Elkbane
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