How is the graph of y= 1/3x related to its parent function y=1/x

Vertical contraction: g (x) = k · f (x)
 When you multiply the y coordinate of the original function f (x) by a constant k:
 If 0 <k <1, the function contracts on the y axis
 We have then:
 y = k * (1 / x)
 Where,
 k = 1/3
 y = (1/3) * (1 / x)
 y = 1/3x
 
 the function contracts on the y axis