25 members · detractors first · 2Y · residual 5090.5bp exceeds 60bp gate
The XLB fell 40.90% (−37.09 pts) over two years, but 17 of 25 members went the other way. DOW and LYB dragged the tape lower, accounting for 16% of the decline.
CORTEVA INC and CF INDUSTRIES HOLDINGS INC moved almost identically (+58.16% vs +65.14%), yet CTVA moved the XLB 4.8× 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 −37.09 pt move · cell size = points contributed · color = direction, intensity = return
NEM+3.8 pts(+171.2%)
DOW−3.4 pts(−35.4%)
LYB−2.0 pts(−25.1%)
STLD+1.7 pts(+104.8%)
CTVA+1.6 pts(+58.2%)
NUE+1.3 pts(+77.9%)
FCX+1.3 pts(+87.8%)
ECL+0.9 pts(+21.8%)
SW+0.9 pts(+22.8%)
PKG+0.9 pts
IP+0.9 pts
CRH+0.8 pts(+16.1%)
LIN−0.5 pts(+9.1%)
APD+0.5 pts(+16.9%)
MLM−0.5 pts(+0.3%)
ALB+0.5 pts(+63.6%)
AVY−0.4 pts
PPG−0.4 pts
CF+0.3 pts
AMCR−0.2 pts
IFF
VMC
MOS
Concentration curve
cumulative share of the −37.09 pt move · sorted by contribution
When they drove it
cumulative points through the period
Breadth
member returns, this period
−50%0%+50%+100%+150%
From −35.36% (DOW) to +171.21% (NEM). Equal-weight, the XLB would be +30.15% vs the actual −40.90%; the gap is what cap weighting did.
By sector
point contribution · sums to −37.09 pts
-25
+7.6
The year, session by session
every trading day of 2026 · hover for the move
JANFEBMARAPRMAYJUNJULAUG
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Materials · Select Sector
What moved the market
2Y · AUG 25, 2026
−40.90%
−37.1 pts · closed 53.59
17 of 25 rose · 8 fell
NEM+171.2%
+3.8
STLD+104.8%
+1.7
CTVA+58.2%
+1.6
NUE+77.9%
+1.3
FCX+87.8%
+1.3
AVY−11.8%
−0.4
MLM+0.3%
−0.5
LIN+9.1%
−0.5
LYB−25.1%
−2.0
DOW−35.4%
−3.4
DOW sank a split tape · 17 of 25 went the other wayWMTMT.COM
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