Diversified Banks
Diversified Banks is losing market weight. Gained weight for 1 consecutive month.
Most of this industry's losses came from a few companies.
Where did the weight change come from?
12-month contribution in universe percentage points · contributions add to the industry change
The three largest same-direction contributors explain 71% of gross losses. Opposing contributions can make an individual company’s change larger than the industry’s net change.
How has it moved through history?
Share of matched S&P 500 members
Jan 2018 – Oct 2018 · market weight (%)
Relative performance
Industry return versus ACWI · no future data shown
Is participation broad or concentrated?
Actual constituent counts at this date, not the legacy synthetic breadth proxy
This is size concentration, not contribution to the 12-month change. The attribution above measures the latter.
Evidence can disagree
Independent dimensions · no combined score or bullish/bearish verdict
Other evidence and availability
Valuation data: unavailable; shown as zero placeholder.
Attention data: unavailable; shown as zero placeholder.
Actual fund flows: unavailable. No ETF, mutual-fund or institutional flow feed is connected.
Volume / turnover: unavailable in this dataset.
Follow the contribution to individual companies
Sorted by absolute 12-month weight contribution, not investment merit
| Company | Sub-industry | Country | Universe weight | 12M contribution | 12M price return | Revisions |
|---|---|---|---|---|---|---|
| JPMorgan Chase → JPM | Diversified Banks | United States | 1.229% | -1.060 pp | -4.1% | 0.0 |
| Bank of America → BAC | Diversified Banks | United States | 0.915% | -0.989 pp | -13.0% | 0.0 |
| Wells Fargo → WFC | Diversified Banks | United States | 0.869% | -0.979 pp | -17.4% | 0.0 |
| Citigroup → C | Diversified Banks | United States | 0.542% | -0.642 pp | -15.3% | 0.0 |
| U.S. Bancorp → USB | Diversified Banks | United States | 0.289% | -0.252 pp | -6.8% | 0.0 |
| PNC Financial Services → PNC | Diversified Banks | United States | 0.202% | -0.227 pp | -17.1% | 0.0 |
| Truist Financial → TFC | Diversified Banks | United States | 0.128% | -0.120 pp | -9.0% | 0.0 |
Underlying monthly industry observations
| Month | Weight | 1M change | 3M change | 6M change | 12M change | Relative return · 12M |
|---|---|---|---|---|---|---|
| Oct 2018 | 4.174% | +0.051 pp | -3.726 pp | -3.807 pp | -4.268 pp | -3.0% |
| Sep 2018 | 4.123% | -0.234 pp | -3.560 pp | -3.908 pp | -4.319 pp | -6.9% |
| Aug 2018 | 4.357% | -3.543 pp | -3.424 pp | -4.113 pp | -4.085 pp | -2.5% |
| Jul 2018 | 7.899% | +0.217 pp | -0.082 pp | -0.543 pp | -0.543 pp | -2.4% |
| Jun 2018 | 7.683% | -0.098 pp | -0.348 pp | -0.759 pp | -0.759 pp | -6.6% |
| May 2018 | 7.780% | -0.201 pp | -0.689 pp | -0.662 pp | -0.662 pp | -6.0% |
| Apr 2018 | 7.981% | -0.050 pp | -0.461 pp | -0.461 pp | -0.461 pp | -5.1% |
| Mar 2018 | 8.031% | -0.439 pp | -0.411 pp | -0.411 pp | -0.411 pp | -4.4% |
| Feb 2018 | 8.470% | +0.027 pp | +0.027 pp | +0.027 pp | +0.027 pp | +1.4% |
| Jan 2018 | 8.442% | +0.000 pp | +0.000 pp | +0.000 pp | +0.000 pp | +0.0% |
How are these descriptive states defined?
Gaining / losing: 12-month weight change above +0.005pp / below −0.005pp. Direction and speed are separate dimensions, not mutually exclusive recommendations.
Accelerating / slowing: compare the most recent 3M change with the preceding 3M change. Accelerating means a positive change speeds up by >0.02pp. Slowing means the magnitude of movement declines by >0.02pp. A falling industry can also slow.
Reversing: the last two 3M changes have opposite signs, outside a ±0.005pp tolerance. Persistence counts consecutive same-direction monthly changes.
Broad / concentrated: company attribution, not a market-cap concentration shortcut. Concentrated means the three largest same-direction contributors account for ≥70% of gross same-direction changes; otherwise broad requires ≥60% of constituents moving with the industry. Other cases are mixed.
Weights use matched S&P 500 members’ market-cap estimates, based on SEC-reported shares available by each month-end and monthly closing prices. Companies without a matched price or share record are omitted, so the denominator is the matched sample rather than every index member. These are not official float-adjusted S&P weights. Flow is not measured.