24 members · detractors first · 6M · residual 46.3bp within 60bp gate
The XLC fell 2.57% (−2.99 pts) over the past six months, but 13 of 24 members went the other way. META and CHTR dragged the tape lower, contributing more than the entire move.
NETFLIX INC and WALT DISNEY CO/THE moved almost identically (+5.37% vs +5.71%), yet NFLX moved the XLC 74.1× 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 −2.99 pt move · cell size = points contributed · color = direction, intensity = return
GOOGL+3.0 pts(+11.7%)
META−2.9 pts(−10.7%)
CHTR−2.6 pts(−33.1%)
GOOG+2.4 pts(+10.6%)
TMUS−1.9 pts(−17.4%)
CMCSA−1.4 pts(−12.1%)
T−1.1 pts(−8.2%)
LYV+1.0 pts(+18.2%)
NFLX−0.9 pts
ECHO−0.7 pts(−18.7%)
FOXA+0.6 pts
TTWO+0.6 pts
NWSA+0.5 pts(+33.9%)
TTD−0.5 pts(−46.9%)
OMC+0.5 pts(+9.2%)
FOX+0.4 pts
TKO+0.4 pts
WBD
NWS
RDDT
Concentration curve
cumulative share of the −2.99 pt move · sorted by contribution
When they drove it
cumulative points through the period
Breadth
member returns, this period
−50%−30%−10%+10%+30%
From −46.87% (TTD) to +35.48% (NWS). Equal-weight, the XLC would be +1.03% vs the actual −2.57%; the gap is what cap weighting did.
By sector
point contribution · sums to −2.99 pts
-24
−2.8
The year, session by session
every trading day of 2026 · hover for the move
JANFEBMARAPRMAYJUNJULAUG
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Communication Services · Select Sector
What moved the market
6M · AUG 25, 2026
−2.57%
−3.0 pts · closed 113.17
13 of 24 rose · 11 fell
GOOGL+11.7%
+3.0
GOOG+10.6%
+2.4
LYV+18.2%
+1.0
FOXA+26.2%
+0.6
TTWO+14.1%
+0.6
T−8.2%
−1.1
CMCSA−12.1%
−1.4
TMUS−17.4%
−1.9
CHTR−33.1%
−2.6
META−10.7%
−2.9
META sank a split tape · 13 of 24 went the other wayWMTMT.COM
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