JOHNSON + JOHNSON and DAVITA INC moved almost identically (+72.82% vs +75.07%), yet JNJ moved the XLV 120.0× 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 +41.77 pt move · cell size = points contributed · color = direction, intensity = return
LLY+15.2 pts(+130.1%)
JNJ+7.5 pts(+72.8%)
ABBV+5.3 pts(+95.0%)
AMGN+2.6 pts
GILD+2.4 pts(+116.3%)
MCK+1.7 pts(+118.3%)
UNH−1.6 pts(−15.4%)
MRK+1.6 pts(+57.2%)
CVS+1.4 pts(+54.8%)
ZTS−1.2 pts
ISRG+1.2 pts
MDT+1.0 pts(+23.4%)
BMY+1.0 pts
CAH+1.0 pts
SYK+0.9 pts
ABT+0.9 pts
COR
VRTX+0.9 pts
TMO+0.7 pts
RMD
PFE−0.6 pts
ELV−0.6 pts
HCA
EW
DXCM
DGX
LH
HUM
ALGN
VEEV
VTRS
Concentration curve
cumulative share of the +41.77 pt move · sorted by contribution
When they drove it
cumulative points through the period
Breadth
member returns, this period
−100%−50%0%+50%+100%+150%
From −55.96% (ZTS) to +190.25% (CAH). Equal-weight, the XLV would be +41.35% vs the actual +31.28%; the gap is what cap weighting did.
By sector
point contribution · sums to +41.77 pts
-59
+44.8
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
Health Care · Select Sector
What moved the market
3Y · AUG 25, 2026
+31.28%
+41.8 pts · closed 175.30
42 of 59 rose · 17 fell
LLY+130.1%
+15.2
JNJ+72.8%
+7.5
ABBV+95.0%
+5.3
AMGN+83.8%
+2.6
GILD+116.3%
+2.4
DXCM−15.9%
−0.4
ELV−9.5%
−0.6
PFE−7.1%
−0.6
ZTS−56.0%
−1.2
UNH−15.4%
−1.6
3 stocks drove 67% of the gain: LLY, JNJ, ABBVWMTMT.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=3y
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.