24 members · drivers first · QTD · residual 38.2bp within 60bp gate
The XLB rose 1.48% (+0.72 pts) so far this quarter, but 12 of 24 members went the other way. NUE and STLD carried the tape higher, accounting for 70% of the gain.
LINDE PLC and AIR PRODUCTS + CHEMICALS INC moved almost identically (+1.91% vs +1.73%), yet LIN moved the XLB 2.8× 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 +0.72 pt move · cell size = points contributed · color = direction, intensity = return
NUE+0.2 pts(+7.1%)
STLD+0.2 pts(+7.6%)
FCX+0.1 pts(+5.3%)
LIN+0.1 pts(+1.9%)
SW−0.1 pts(−6.3%)
ECL+0.1 pts(+2.6%)
NEM+0.1 pts(+2.2%)
MOS−0.1 pts(−13.4%)
DOW+0.1 pts(+3.2%)
LYB+0.1 pts(+5.0%)
BALL+0.1 pts(+4.4%)
APD+0.0 pts
ALB−0.0 pts(−4.2%)
CF−0.0 pts(−3.2%)
IFF+0.0 pts(+1.3%)
IP−0.0 pts
SHW−0.0 pts
CRH−0.0 pts
AVY−0.0 pts
VMC
PKG
PPG
Concentration curve
cumulative share of the +0.72 pt move · sorted by contribution
When they drove it
cumulative points through the period
Breadth
member returns, this period
−15%−10%−5%0%+5%
From −13.44% (MOS) to +7.57% (STLD). Equal-weight, the XLB would be +0.24% vs the actual +1.48%; the gap is what cap weighting did.
By sector
point contribution · sums to +0.72 pts
-24
+0.7
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
QTD · OCT 9, 2026
+1.48%
+0.7 pts · closed 49.42
12 of 24 rose · 12 fell
NUE+7.1%
+0.2
STLD+7.6%
+0.2
FCX+5.3%
+0.1
LIN+1.9%
+0.1
ECL+2.6%
+0.1
IP−3.2%
−0.0
CF−3.2%
−0.0
ALB−4.2%
−0.0
MOS−13.4%
−0.1
SW−6.3%
−0.1
NUE carried a split tape · 12 of 24 went the other wayWMTMT.COM
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