21 members · detractors first · 2Y · residual 5491.8bp exceeds 60bp gate
The XLE fell 30.15% (−28.09 pts) over two years, but 21 of 21 members went the other way. SLB and TPL dragged the tape lower, accounting for 6% of the decline.
SLB LTD and OCCIDENTAL PETROLEUM CORP moved almost identically (+13.02% vs +11.66%), yet SLB moved the XLE 10.5× 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 −28.09 pt move · cell size = points contributed · color = direction, intensity = return
CVX+3.8 pts(+51.5%)
MPC+2.8 pts(+174.5%)
VLO+2.8 pts(+220.3%)
WMB+2.0 pts(+55.1%)
XOM+1.6 pts(+14.3%)
PSX+1.6 pts(+113.3%)
KMI+1.6 pts(+50.8%)
TRGP+1.3 pts(+88.1%)
EQT+1.3 pts(+46.1%)
COP+1.3 pts(+23.9%)
BKR+0.7 pts(+54.7%)
EXE+0.7 pts(+8.1%)
SLB−0.7 pts(+13.0%)
TPL−0.5 pts
EOG
APA+0.4 pts
Concentration curve
cumulative share of the −28.09 pt move · sorted by contribution
When they drove it
cumulative points through the period
Breadth
member returns, this period
0%+50%+100%+150%+200%
From +3.00% (OKE) to +220.34% (VLO). Equal-weight, the XLE would be +53.33% vs the actual −30.15%; the gap is what cap weighting did.
By sector
point contribution · sums to −28.09 pts
-21
+20.1
The year, session by session
every trading day of 2026 · hover for the move
JANFEBMARAPRMAYJUNJULAUGSEPOCT
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Energy · Select Sector
What moved the market
2Y · OCT 9, 2026
−30.15%
−28.1 pts · closed 65.09
21 of 21 rose · 0 fell
CVX+51.5%
+3.8
MPC+174.5%
+2.8
VLO+220.3%
+2.8
WMB+55.1%
+2.0
XOM+14.3%
+1.6
DVN+19.2%
−0.1
OKE+3.0%
−0.1
EOG+18.0%
−0.4
TPL+11.5%
−0.5
SLB+13.0%
−0.7
SLB sank a split tape · 21 of 21 went the other wayWMTMT.COM
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