AIR PRODUCTS + CHEMICALS INC and ECOLAB INC moved almost identically (+4.24% vs +3.92%), yet APD moved the XLB 3.5× 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 +2.76 pt move · cell size = points contributed · color = direction, intensity = return
NEM+1.4 pts(+44.7%)
FCX+0.7 pts(+27.2%)
CRH−0.3 pts(−10.1%)
LIN−0.3 pts(−6.1%)
MLM−0.3 pts(−7.8%)
APD+0.2 pts(+4.2%)
VMC−0.2 pts(−7.1%)
LYB+0.2 pts
NUE+0.2 pts(+11.1%)
CF+0.2 pts(+17.5%)
DOW+0.2 pts
IFF+0.2 pts
SW+0.1 pts(+6.8%)
IP+0.1 pts(+7.5%)
AMCR+0.1 pts(+9.0%)
AVY+0.1 pts(+10.8%)
PPG−0.1 pts(−6.3%)
PKG
STLD−0.1 pts
MOS+0.1 pts
ECL
CTVA−0.1 pts
SHW+0.1 pts
Concentration curve
cumulative share of the +2.76 pt move · sorted by contribution
When they drove it
cumulative points through the period
Breadth
member returns, this period
−20%0%+20%+40%
From −10.09% (CRH) to +44.69% (NEM). Equal-weight, the XLB would be +6.79% vs the actual +5.42%; the gap is what cap weighting did.
By sector
point contribution · sums to +2.76 pts
-25
+2.8
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
QTD · AUG 25, 2026
+5.42%
+2.8 pts · closed 53.59
18 of 25 rose · 7 fell
NEM+44.7%
+1.4
FCX+27.2%
+0.7
APD+4.2%
+0.2
LYB+18.8%
+0.2
NUE+11.1%
+0.2
PPG−6.3%
−0.1
VMC−7.1%
−0.2
MLM−7.8%
−0.3
LIN−6.1%
−0.3
CRH−10.1%
−0.3
3 stocks drove 85% of the gain: NEM, FCX, APDWMTMT.COM
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