LOCKHEED MARTIN CORP and VERALTO CORP moved almost identically (−11.68% vs −12.74%), yet LMT moved the XLI 36.9× 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 +33.74 pt move · cell size = points contributed · color = direction, intensity = return
GEV+5.7 pts(+279.8%)
CAT+5.4 pts(+106.2%)
GE+3.2 pts(+66.2%)
ETN+2.0 pts(+31.8%)
VRT+1.7 pts(+131.2%)
PWR+1.7 pts(+131.3%)
DE+1.6 pts(+55.7%)
FDX+1.6 pts(+78.0%)
PH+1.5 pts
JCI+1.5 pts
FIX+1.3 pts(+328.6%)
RTX+1.2 pts(+53.6%)
URI+1.2 pts(+35.9%)
EMR+1.1 pts
HWM+1.1 pts
CMI+1.0 pts
LMT−0.9 pts
FAST
TT
CSX+0.7 pts
HONA
CARR
CPRT
ROK+0.6 pts
GWW+0.6 pts
AME+0.6 pts
EME
EFX
NOC
MMM
HON
WM
NSC
AXON
TDG
BA
DAL
WAB
ADP
VRSK
XYL
UAL
IR
LHX
Concentration curve
cumulative share of the +33.74 pt move · sorted by contribution
When they drove it
cumulative points through the period
Breadth
member returns, this period
−50%+50%+150%+250%
From −48.36% (CPRT) to +328.59% (FIX). Equal-weight, the XLI would be +26.52% vs the actual +24.90%; the gap is what cap weighting did.
By sector
point contribution · sums to +33.74 pts
-83
+35.0
The year, session by session
every trading day of 2026 · hover for the move
JANFEBMARAPRMAYJUNJULAUGSEPOCT
Share this move
pick a view, download it as a 16:9 PNG
Industrials · Select Sector
What moved the market
2Y · OCT 9, 2026
+24.90%
+33.7 pts · closed 169.25
54 of 83 rose · 29 fell
GEV+279.8%
+5.7
CAT+106.2%
+5.4
GE+66.2%
+3.2
ETN+31.8%
+2.0
VRT+131.2%
+1.7
UPS−20.0%
−0.5
CPRT−48.4%
−0.6
CARR−29.4%
−0.6
HONA−28.3%
−0.6
LMT−11.7%
−0.9
Mixed tape · top 3 drove 42% of the gainWMTMT.COM
view 1 of 6
Cycle through the views and download any of them as a 16:9 PNG sized for X. Pasting the page link on X unfurls a server-rendered card on its own.
www.wmtmt.com/xli?p=2y
Share on X copies the image to your clipboard and opens the composer; paste to attach it.
What moved the market, in your inbox
The daily note publishes here after every close; the week's story lands in your inbox on Fridays, free. Read the daily notes.
Babylon Burns
WMTMT is built by the founders of Babylon Burns, a letter on markets, macro, and the systems behind them. The numbers live here; the arguments live there. Subscribing below joins the Babylon Burns letter.