24 members · detractors first · 2Y · residual 4708.2bp exceeds 60bp gate
The XLB fell 48.07% (−45.75 pts) over two years, but 11 of 24 members went the other way. DOW and LYB dragged the tape lower, accounting for 15% of the decline.
LYONDELLBASELL INDU CL A and MOSAIC CO/THE moved almost identically (−28.80% vs −26.33%), yet LYB moved the XLB 4.3× as much. In a cap-weighted index, the bigger company's weight turns the same percentage move into far more points.
Attribution map
slicing the −45.75 pt move · cell size = points contributed · color = direction, intensity = return
DOW−3.9 pts(−42.7%)
STLD+2.5 pts(+90.4%)
LYB−2.0 pts(−28.8%)
NUE+1.9 pts(+69.8%)
NEM+1.2 pts(+127.0%)
ECL+0.9 pts(+14.3%)
IFF−0.9 pts
APD+0.8 pts(+3.0%)
AMCR−0.8 pts(−17.8%)
AVY−0.8 pts
MLM−0.6 pts
IP+0.6 pts(−28.8%)
FCX+0.6 pts(+49.2%)
CRH+0.5 pts(−6.1%)
CF−0.5 pts(+28.6%)
MOS−0.5 pts(−26.3%)
BALL−0.4 pts
VMC−0.3 pts
PPG−0.3 pts
ALB
SHW
Concentration curve
cumulative share of the −45.75 pt move · sorted by contribution
When they drove it
cumulative points through the period
Breadth
member returns, this period
−50%0%+50%+100%
From −42.69% (DOW) to +127.02% (NEM). Equal-weight, the XLB would be +10.48% vs the actual −48.07%; the gap is what cap weighting did.
By sector
point contribution · sums to −45.75 pts
-24
−1.4
The year, session by session
every trading day of 2026 · hover for the move
JANFEBMARAPRMAYJUNJULAUGSEPOCT
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Materials · Select Sector
What moved the market
2Y · OCT 9, 2026
−48.07%
−45.8 pts · closed 49.42
11 of 24 rose · 13 fell
STLD+90.4%
+2.5
NUE+69.8%
+1.9
NEM+127.0%
+1.2
ECL+14.3%
+0.9
APD+3.0%
+0.8
AVY−18.9%
−0.8
AMCR−17.8%
−0.8
IFF−12.5%
−0.9
LYB−28.8%
−2.0
DOW−42.7%
−3.9
DOW sank a split tape · 11 of 24 went the other wayWMTMT.COM
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