47 members · detractors first · 3M · residual 43.4bp within 60bp gate
The XLY fell 3.60% (−4.38 pts) over the past three months, but 26 of 47 members went the other way. TSLA and AMZN dragged the tape lower, contributing more than the entire move.
AMAZON.COM INC and WYNN RESORTS LTD moved almost identically (−4.26% vs −4.00%), yet AMZN moved the XLY 98.5× 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 −4.38 pt move · cell size = points contributed · color = direction, intensity = return
TSLA−5.2 pts(−21.5%)
AMZN−1.3 pts
BKNG+1.0 pts(+24.4%)
DASH+0.9 pts(+50.4%)
ABNB+0.7 pts(+42.4%)
TJX−0.7 pts(−12.9%)
EXPE+0.4 pts(+47.5%)
HD+0.3 pts(+6.1%)
MCD−0.3 pts(−4.3%)
NKE−0.3 pts
F−0.2 pts
GRMN+0.2 pts
GPC
LOW−0.2 pts
MAR−0.2 pts
SBUX+0.1 pts
CCL−0.1 pts
CVNA
WSM
DECK
APTV
EBAY
GM
RCL
TSCO
LVS
TPR
Concentration curve
cumulative share of the −4.38 pt move · sorted by contribution
When they drove it
cumulative points through the period
Breadth
member returns, this period
−30%−10%+10%+30%+50%
From −25.19% (APTV) to +50.36% (DASH). Equal-weight, the XLY would be +4.44% vs the actual −3.60%; the gap is what cap weighting did.
By sector
point contribution · sums to −4.38 pts
-47
−4.4
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
Consumer Discretionary · Select Sector
What moved the market
3M · AUG 26, 2026
−3.60%
−4.4 pts · closed 117.17
26 of 47 rose · 21 fell
BKNG+24.4%
+1.0
DASH+50.4%
+0.9
ABNB+42.4%
+0.7
EXPE+47.5%
+0.4
HD+6.1%
+0.3
NKE−15.3%
−0.3
MCD−4.3%
−0.3
TJX−12.9%
−0.7
AMZN−4.3%
−1.3
TSLA−21.5%
−5.2
TSLA sank a split tape · 26 of 47 went the other wayWMTMT.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/xly?p=3m
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.