CATERPILLAR INC and DOVER CORP moved almost identically (−13.90% vs −11.87%), yet CAT moved the XLI 18.2× 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 −11.12 pt move · cell size = points contributed · color = direction, intensity = return
CAT−2.0 pts(−13.9%)
GE−1.4 pts(−12.8%)
VRT−0.7 pts
CMI−0.6 pts
BA−0.6 pts(−11.7%)
HWM−0.6 pts(−16.9%)
HONA−0.5 pts(−25.9%)
BE+0.4 pts(+18.2%)
EMR+0.4 pts
UPS−0.4 pts
CARR−0.4 pts
ODFL−0.4 pts
GEV−0.3 pts
WM−0.3 pts
ETN+0.3 pts
AXON
PWR+0.3 pts(+9.2%)
GD−0.3 pts(−11.1%)
PCAR−0.3 pts
LHX−0.3 pts
TDG
JCI
CHRW−0.2 pts
RTX−0.2 pts
ADP
CTAS
UNP−0.2 pts
UAL−0.2 pts
LII−0.2 pts
NOC
UBER
JBHT−0.2 pts
DAL−0.2 pts
FDX
CSX
WAB
ROK
ROL
FERG
HON
DOV
URI
FAST
NSC
TXT
OTIS
PAYX
SNA
LDOS
Concentration curve
cumulative share of the −11.12 pt move · sorted by contribution
When they drove it
cumulative points through the period
Breadth
member returns, this period
−40%−30%−20%−10%0%+10%
From −35.28% (LII) to +19.93% (EMR). Equal-weight, the XLI would be −5.10% vs the actual −6.17%; the gap is what cap weighting did.
By sector
point contribution · sums to −11.12 pts
-83
−11.1
The year, session by session
every trading day of 2026 · hover for the move
JANFEBMARAPRMAYJUNJULAUGSEPOCT
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Industrials · Select Sector
What moved the market
3M · OCT 9, 2026
−6.17%
−11.1 pts · closed 169.25
24 of 83 rose · 59 fell
BE+18.2%
+0.4
EMR+19.9%
+0.4
ETN+6.9%
+0.3
PWR+9.2%
+0.3
JCI+9.4%
+0.3
BA−11.7%
−0.6
CMI−21.2%
−0.6
VRT−20.6%
−0.7
GE−12.8%
−1.4
CAT−13.9%
−2.0
Mixed tape · top 3 drove 37% of the declineWMTMT.COM
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