Diversified Banks
Diversified Banks is losing market weight. Gained weight for 3 consecutive months.
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 74% 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 – Dec 2020 · 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 |
|---|---|---|---|---|---|---|
| Wells Fargo → WFC | Diversified Banks | United States | 0.505% | -0.611 pp | -41.6% | 0.0 |
| JPMorgan Chase → JPM | Diversified Banks | United States | 1.568% | -0.577 pp | -5.5% | 0.0 |
| Bank of America → BAC | Diversified Banks | United States | 1.061% | -0.493 pp | -11.6% | 0.0 |
| Citigroup → C | Diversified Banks | United States | 0.520% | -0.336 pp | -19.7% | 0.0 |
| U.S. Bancorp → USB | Diversified Banks | United States | 0.284% | -0.170 pp | -17.9% | 0.0 |
| PNC Financial Services → PNC | Diversified Banks | United States | 0.256% | -0.088 pp | -2.8% | 0.0 |
| Truist Financial → TFC | Diversified Banks | United States | 0.262% | +0.050 pp | -11.2% | 0.0 |
Underlying monthly industry observations
| Month | Weight | 1M change | 3M change | 6M change | 12M change | Relative return · 12M |
|---|---|---|---|---|---|---|
| Dec 2020 | 4.455% | +0.136 pp | +4.451 pp | +4.450 pp | -2.226 pp | -27.3% |
| Nov 2020 | 4.319% | +0.335 pp | +4.314 pp | +4.314 pp | -2.282 pp | -29.3% |
| Oct 2020 | 3.983% | +3.979 pp | +3.979 pp | -0.925 pp | -2.617 pp | -32.5% |
| Sep 2020 | 0.004% | -0.000 pp | -0.000 pp | +0.000 pp | -6.458 pp | -32.9% |
| Aug 2020 | 0.004% | +0.000 pp | -0.000 pp | +0.000 pp | -6.167 pp | -27.8% |
| Jul 2020 | 0.004% | -0.000 pp | -4.905 pp | -6.208 pp | -6.589 pp | -29.2% |
| Jun 2020 | 0.005% | -0.000 pp | +0.001 pp | -6.676 pp | -6.443 pp | -23.5% |
| May 2020 | 0.005% | -4.904 pp | +0.000 pp | -6.595 pp | -6.477 pp | -19.6% |
| Apr 2020 | 4.909% | +4.905 pp | -1.303 pp | -1.692 pp | -2.006 pp | -18.5% |
| Mar 2020 | 0.004% | -0.000 pp | -6.677 pp | -6.458 pp | -6.501 pp | -12.7% |
| Feb 2020 | 0.004% | -6.207 pp | -6.596 pp | -6.167 pp | -6.834 pp | -3.1% |
| Jan 2020 | 6.212% | -0.469 pp | -0.389 pp | -0.381 pp | +2.293 pp | +2.1% |
| Dec 2019 | 6.681% | +0.080 pp | +0.218 pp | +0.233 pp | +2.849 pp | +11.8% |
| Nov 2019 | 6.600% | -0.000 pp | +0.428 pp | +0.119 pp | +2.440 pp | +2.6% |
| Oct 2019 | 6.601% | +0.138 pp | +0.007 pp | -0.315 pp | +2.427 pp | +0.2% |
| Sep 2019 | 6.462% | +0.290 pp | +0.015 pp | -0.043 pp | +2.339 pp | +2.0% |
| Aug 2019 | 6.172% | -0.421 pp | -0.310 pp | -0.667 pp | +1.815 pp | -7.4% |
| Jul 2019 | 6.593% | +0.146 pp | -0.322 pp | +2.675 pp | -1.306 pp | -2.7% |
| Jun 2019 | 6.448% | -0.034 pp | -0.057 pp | +2.616 pp | -1.235 pp | -2.5% |
| May 2019 | 6.481% | -0.434 pp | -0.357 pp | +2.321 pp | -1.299 pp | -4.1% |
| Apr 2019 | 6.915% | +0.410 pp | +2.997 pp | +2.741 pp | -1.066 pp | -1.4% |
| Mar 2019 | 6.505% | -0.333 pp | +2.674 pp | +2.382 pp | -1.526 pp | -8.5% |
| Feb 2019 | 6.838% | +2.920 pp | +2.678 pp | +2.482 pp | -1.631 pp | -8.8% |
| Jan 2019 | 3.918% | +0.087 pp | -0.255 pp | -3.981 pp | -4.524 pp | -6.7% |
| Dec 2018 | 3.831% | -0.329 pp | -0.292 pp | -3.851 pp | -4.611 pp | -9.5% |
| Nov 2018 | 4.160% | -0.014 pp | -0.196 pp | -3.620 pp | -4.282 pp | -2.1% |
| 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.