CATERPILLAR INC and BUILDERS FIRSTSOURCE INC moved almost identically (−23.70% vs −22.47%), yet CAT moved the XLI 54.9× 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 −6.83 pt move · cell size = points contributed · color = direction, intensity = return
CAT−3.6 pts(−23.7%)
GEV−2.3 pts(−21.2%)
RTX+1.0 pts(+10.8%)
VRT−0.9 pts(−23.7%)
ADP+0.7 pts(+26.3%)
HONA−0.6 pts(−27.5%)
UNP+0.6 pts(+13.8%)
PWR−0.6 pts(−16.2%)
GE−0.6 pts(−6.4%)
CMI−0.6 pts(−19.7%)
FIX−0.5 pts
UBER
CARR−0.4 pts
CTAS+0.3 pts
LMT
MMM
TDG−0.3 pts
PAYX+0.3 pts
ROK−0.2 pts
EMR
CSX
GD
DAL−0.2 pts
NOC+0.2 pts
TT
PH
UAL
LUV−0.2 pts
GNRC−0.2 pts
BR
URI
FDX
LHX
ETN
EME
EFX
AXON
EXPD
J
DOV
HUBB
FAST
ITW
Concentration curve
cumulative share of the −6.83 pt move · sorted by contribution
When they drove it
cumulative points through the period
Breadth
member returns, this period
−40%−20%0%+20%
From −32.09% (LII) to +34.93% (BR). Equal-weight, the XLI would be −1.55% vs the actual −3.69%; the gap is what cap weighting did.
By sector
point contribution · sums to −6.83 pts
-83
−6.8
The year, session by session
every trading day of 2026 · hover for the move
JANFEBMARAPRMAYJUNJULAUG
Share this move
pick a view, download it as a 16:9 PNG
Industrials · Select Sector
What moved the market
QTD · AUG 25, 2026
−3.69%
−6.8 pts · closed 178.40
35 of 83 rose · 48 fell
RTX+10.8%
+1.0
ADP+26.3%
+0.7
UNP+13.8%
+0.6
UBER+11.3%
+0.4
CTAS+20.4%
+0.3
PWR−16.2%
−0.6
HONA−27.5%
−0.6
VRT−23.7%
−0.9
GEV−21.2%
−2.3
CAT−23.7%
−3.6
3 stocks drove 100% of the decline: CAT, GEV, VRTWMTMT.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=qtd
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.