21 members · detractors first · 2Y · residual 5839.0bp exceeds 60bp gate
The XLE fell 30.01% (−26.61 pts) over two years, but 21 of 21 members went the other way. SLB and OXY dragged the tape lower, accounting for 5% of the decline.
KINDER MORGAN INC and APA CORP moved almost identically (+61.34% vs +57.57%), yet KMI moved the XLE 10.4× 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 −26.61 pt move · cell size = points contributed · color = direction, intensity = return
MPC+2.8 pts(+115.6%)
CVX+2.7 pts(+48.8%)
VLO+2.6 pts(+153.4%)
TRGP+2.4 pts(+110.1%)
KMI+2.1 pts(+61.3%)
WMB+2.1 pts(+71.6%)
PSX+1.8 pts(+90.1%)
BKR+1.4 pts(+87.0%)
EQT+1.3 pts(+65.9%)
COP+1.0 pts(+26.9%)
SLB−0.9 pts(+27.9%)
XOM+0.9 pts(+8.6%)
EXE+0.5 pts(+35.7%)
OXY
DVN
APA
FANG
OKE
Concentration curve
cumulative share of the −26.61 pt move · sorted by contribution
When they drove it
cumulative points through the period
Breadth
member returns, this period
0%+50%+100%+150%
From +8.20% (OXY) to +153.38% (VLO). Equal-weight, the XLE would be +57.81% vs the actual −30.01%; the gap is what cap weighting did.
By sector
point contribution · sums to −26.61 pts
-21
+21.0
The year, session by session
every trading day of 2026 · hover for the move
JANFEBMARAPRMAYJUNJULAUG
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Energy · Select Sector
What moved the market
2Y · AUG 25, 2026
−30.01%
−26.6 pts · closed 62.07
21 of 21 rose · 0 fell
MPC+115.6%
+2.8
CVX+48.8%
+2.7
VLO+153.4%
+2.6
TRGP+110.1%
+2.4
KMI+61.3%
+2.1
EOG+24.2%
−0.2
DVN+12.8%
−0.2
OXY+8.2%
−0.3
SLB+27.9%
−0.9
SLB sank a split tape · 21 of 21 went the other wayWMTMT.COM
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