Investment Banking & Brokerage
Investment Banking & Brokerage 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 97% 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 |
|---|---|---|---|---|---|---|
| Morgan Stanley → MS | Investment Banking & Brokerage | United States | 0.270% | -0.313 pp | -17.8% | 0.0 |
| Goldman Sachs → GS | Investment Banking & Brokerage | United States | 0.288% | -0.288 pp | -15.1% | 0.0 |
| Charles Schwab Corporation → SCHW | Investment Banking & Brokerage | United States | 0.212% | -0.196 pp | -12.8% | 0.0 |
| Raymond James Financial → RJF | Investment Banking & Brokerage | United States | 0.025% | -0.028 pp | -19.7% | 0.0 |
Underlying monthly industry observations
| Month | Weight | 1M change | 3M change | 6M change | 12M change | Relative return · 12M |
|---|---|---|---|---|---|---|
| Oct 2018 | 0.796% | +0.027 pp | -0.703 pp | -0.843 pp | -0.825 pp | -7.5% |
| Sep 2018 | 0.769% | -0.047 pp | -0.717 pp | -0.896 pp | -0.852 pp | -12.2% |
| Aug 2018 | 0.815% | -0.683 pp | -0.753 pp | -0.866 pp | -0.805 pp | -7.5% |
| Jul 2018 | 1.499% | +0.013 pp | -0.140 pp | -0.121 pp | -0.121 pp | -5.9% |
| Jun 2018 | 1.486% | -0.083 pp | -0.179 pp | -0.135 pp | -0.135 pp | -7.8% |
| May 2018 | 1.568% | -0.071 pp | -0.113 pp | -0.052 pp | -0.052 pp | -3.2% |
| Apr 2018 | 1.639% | -0.026 pp | +0.019 pp | +0.019 pp | +0.019 pp | -0.4% |
| Mar 2018 | 1.665% | -0.017 pp | +0.045 pp | +0.045 pp | +0.045 pp | +1.6% |
| Feb 2018 | 1.682% | +0.062 pp | +0.062 pp | +0.062 pp | +0.062 pp | +3.5% |
| Jan 2018 | 1.620% | +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.