Biotechnology
Biotechnology is losing market weight. Lost weight for 4 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 80% 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 – Jun 2019 · 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 |
|---|---|---|---|---|---|---|
| AbbVie → ABBV | Biotechnology | United States | 0.580% | -0.312 pp | -17.8% | 0.0 |
| Amgen → AMGN | Biotechnology | United States | 0.606% | -0.135 pp | +2.9% | 0.0 |
| Biogen → BIIB | Biotechnology | United States | 0.244% | -0.127 pp | -19.4% | 0.0 |
| Gilead Sciences → GILD | Biotechnology | United States | 0.463% | -0.096 pp | -1.2% | 0.0 |
| Regeneron Pharmaceuticals → REGN | Biotechnology | United States | 0.159% | -0.038 pp | -9.3% | 0.0 |
| Incyte → INCY | Biotechnology | United States | 0.098% | +0.012 pp | +26.8% | 0.0 |
| Vertex Pharmaceuticals → VRTX | Biotechnology | United States | 0.253% | -0.010 pp | +7.9% | 0.0 |
Underlying monthly industry observations
| Month | Weight | 1M change | 3M change | 6M change | 12M change | Relative return · 12M |
|---|---|---|---|---|---|---|
| Jun 2019 | 2.403% | -0.069 pp | -0.300 pp | +0.632 pp | -0.706 pp | -11.3% |
| May 2019 | 2.472% | -0.024 pp | -0.367 pp | +0.715 pp | -0.607 pp | -8.7% |
| Apr 2019 | 2.496% | -0.207 pp | +0.834 pp | +0.871 pp | -0.587 pp | -9.2% |
| Mar 2019 | 2.703% | -0.136 pp | +0.933 pp | +0.949 pp | -0.495 pp | -3.7% |
| Feb 2019 | 2.839% | +1.177 pp | +1.081 pp | +1.080 pp | -0.582 pp | -5.6% |
| Jan 2019 | 1.663% | -0.108 pp | +0.037 pp | -1.462 pp | -1.719 pp | -1.0% |
| Dec 2018 | 1.771% | +0.013 pp | +0.016 pp | -1.339 pp | -1.611 pp | +4.8% |
| Nov 2018 | 1.758% | +0.133 pp | -0.002 pp | -1.321 pp | -1.624 pp | +3.7% |
| Oct 2018 | 1.625% | -0.129 pp | -1.499 pp | -1.459 pp | -1.757 pp | -4.9% |
| Sep 2018 | 1.754% | -0.005 pp | -1.355 pp | -1.444 pp | -1.628 pp | +0.4% |
| Aug 2018 | 1.759% | -1.365 pp | -1.320 pp | -1.662 pp | -1.623 pp | -0.1% |
| Jul 2018 | 3.124% | +0.015 pp | +0.040 pp | -0.258 pp | -0.258 pp | -2.6% |
| Jun 2018 | 3.109% | +0.030 pp | -0.089 pp | -0.273 pp | -0.273 pp | -5.3% |
| May 2018 | 3.079% | -0.005 pp | -0.342 pp | -0.303 pp | -0.303 pp | -6.9% |
| Apr 2018 | 3.084% | -0.114 pp | -0.298 pp | -0.298 pp | -0.298 pp | -7.8% |
| Mar 2018 | 3.198% | -0.224 pp | -0.184 pp | -0.184 pp | -0.184 pp | -6.1% |
| Feb 2018 | 3.421% | +0.039 pp | +0.039 pp | +0.039 pp | +0.039 pp | +1.2% |
| Jan 2018 | 3.382% | +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.