ELI LILLY + CO and DAVITA INC moved almost identically (+40.05% vs +40.13%), yet LLY moved the XLV 156.4× 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 +26.31 pt move · cell size = points contributed · color = direction, intensity = return
LLY+7.3 pts(+40.1%)
JNJ+5.2 pts(+40.2%)
MRK+3.7 pts(+72.5%)
BSX−2.0 pts(−55.8%)
ABBV+1.8 pts
AMGN+1.7 pts(+43.9%)
MRNA+1.6 pts(+705.9%)
TMO+1.4 pts(+23.0%)
ABT−1.2 pts(−24.6%)
GILD+1.2 pts(+30.3%)
BMY+1.0 pts
SYK−0.8 pts
ILMN+0.7 pts(+184.5%)
ZTS−0.7 pts(−47.3%)
MCK+0.6 pts
PFE+0.6 pts
HUM+0.5 pts
VRTX+0.5 pts
CAH+0.5 pts
REGN+0.4 pts
IQV
WAT+0.3 pts
PODD
MDT
DHR
EW
DXCM
VTRS
DGX
WST
RMD
RVTY
COR
Concentration curve
cumulative share of the +26.31 pt move · sorted by contribution
When they drove it
cumulative points through the period
Breadth
member returns, this period
−100%+100%+300%+500%+700%
From −57.12% (PODD) to +705.87% (MRNA). Equal-weight, the XLV would be +25.02% vs the actual +18.21%; the gap is what cap weighting did.
By sector
point contribution · sums to +26.31 pts
-60
+27.1
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
Health Care · Select Sector
What moved the market
1Y · OCT 9, 2026
+18.21%
+26.3 pts · closed 170.82
44 of 60 rose · 16 fell
LLY+40.1%
+7.3
JNJ+40.2%
+5.2
MRK+72.5%
+3.7
ABBV+22.4%
+1.8
AMGN+43.9%
+1.7
PODD−57.1%
−0.3
ZTS−47.3%
−0.7
SYK−25.5%
−0.8
ABT−24.6%
−1.2
BSX−55.8%
−2.0
3 stocks drove 61% of the gain: LLY, JNJ, MRKWMTMT.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/xlv?p=1y
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.