Managed Health Care
Managed Health Care is losing market weight. Lost 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 95% 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 – Jan 2021 · 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 |
|---|---|---|---|---|---|---|
| UnitedHealth Group → UNH | Managed Health Care | United States | 0.758% | -0.515 pp | +24.5% | 0.0 |
| Elevance Health → ELV | Managed Health Care | United States | 0.177% | -0.155 pp | +13.5% | 0.0 |
| Humana → HUM | Managed Health Care | United States | 0.121% | -0.098 pp | +14.7% | 0.0 |
| Centene Corporation → CNC | Managed Health Care | United States | 0.084% | -0.044 pp | -4.0% | 0.0 |
Underlying monthly industry observations
| Month | Weight | 1M change | 3M change | 6M change | 12M change | Relative return · 12M |
|---|---|---|---|---|---|---|
| Jan 2021 | 1.140% | -0.890 pp | -0.966 pp | +1.138 pp | -0.813 pp | +1.4% |
| Dec 2020 | 2.031% | -0.031 pp | +2.028 pp | +2.028 pp | -0.077 pp | -0.4% |
| Nov 2020 | 2.061% | -0.045 pp | +2.059 pp | +2.059 pp | +0.003 pp | +2.6% |
| Oct 2020 | 2.106% | +2.104 pp | +2.104 pp | -0.341 pp | +0.181 pp | +13.7% |
| Sep 2020 | 0.002% | -0.000 pp | -0.000 pp | +0.000 pp | -1.696 pp | +27.1% |
| Aug 2020 | 0.002% | +0.000 pp | -0.000 pp | +0.001 pp | -1.881 pp | +12.9% |
| Jul 2020 | 0.002% | -0.000 pp | -2.445 pp | -1.951 pp | -1.986 pp | +10.7% |
| Jun 2020 | 0.002% | -0.000 pp | +0.000 pp | -2.106 pp | -1.949 pp | +17.3% |
| May 2020 | 0.003% | -2.445 pp | +0.001 pp | -2.056 pp | -2.084 pp | +20.3% |
| Apr 2020 | 2.447% | +2.445 pp | +0.494 pp | +0.522 pp | +0.512 pp | +34.0% |
| Mar 2020 | 0.002% | +0.000 pp | -2.106 pp | -1.697 pp | -2.118 pp | +13.2% |
| Feb 2020 | 0.002% | -1.952 pp | -2.057 pp | -1.881 pp | -2.163 pp | -2.1% |
| Jan 2020 | 1.953% | -0.155 pp | +0.028 pp | -0.035 pp | +0.653 pp | -13.3% |
| Dec 2019 | 2.108% | +0.050 pp | +0.409 pp | +0.157 pp | +0.825 pp | -5.7% |
| Nov 2019 | 2.058% | +0.133 pp | +0.175 pp | -0.028 pp | +0.711 pp | -11.8% |
| Oct 2019 | 1.925% | +0.227 pp | -0.063 pp | -0.009 pp | +0.636 pp | -14.3% |
| Sep 2019 | 1.699% | -0.184 pp | -0.253 pp | -0.421 pp | +0.460 pp | -19.5% |
| Aug 2019 | 1.883% | -0.106 pp | -0.203 pp | -0.282 pp | +0.630 pp | -11.4% |
| Jul 2019 | 1.988% | +0.037 pp | +0.054 pp | +0.689 pp | -0.145 pp | -1.7% |
| Jun 2019 | 1.951% | -0.135 pp | -0.169 pp | +0.669 pp | -0.163 pp | -3.8% |
| May 2019 | 2.086% | +0.152 pp | -0.079 pp | +0.739 pp | +0.029 pp | +4.7% |
| Apr 2019 | 1.935% | -0.185 pp | +0.635 pp | +0.645 pp | -0.150 pp | -5.3% |
| Mar 2019 | 2.120% | -0.045 pp | +0.837 pp | +0.881 pp | +0.221 pp | +13.6% |
| Feb 2019 | 2.165% | +0.865 pp | +0.818 pp | +0.912 pp | +0.216 pp | +12.8% |
| Jan 2019 | 1.300% | +0.017 pp | +0.011 pp | -0.834 pp | -0.654 pp | +25.7% |
| Dec 2018 | 1.282% | -0.065 pp | +0.044 pp | -0.832 pp | -0.672 pp | +23.6% |
| Nov 2018 | 1.347% | +0.058 pp | +0.094 pp | -0.710 pp | -0.607 pp | +29.5% |
| Oct 2018 | 1.289% | +0.050 pp | -0.844 pp | -0.795 pp | -0.665 pp | +23.1% |
| Sep 2018 | 1.239% | -0.014 pp | -0.876 pp | -0.660 pp | -0.715 pp | +16.3% |
| Aug 2018 | 1.253% | -0.880 pp | -0.805 pp | -0.696 pp | -0.701 pp | +16.5% |
| Jul 2018 | 2.133% | +0.019 pp | +0.049 pp | +0.179 pp | +0.179 pp | +10.7% |
| Jun 2018 | 2.114% | +0.057 pp | +0.215 pp | +0.160 pp | +0.160 pp | +9.6% |
| May 2018 | 2.058% | -0.027 pp | +0.108 pp | +0.103 pp | +0.103 pp | +5.7% |
| Apr 2018 | 2.084% | +0.185 pp | +0.130 pp | +0.130 pp | +0.130 pp | +5.7% |
| Mar 2018 | 1.899% | -0.050 pp | -0.055 pp | -0.055 pp | -0.055 pp | -3.1% |
| Feb 2018 | 1.949% | -0.005 pp | -0.005 pp | -0.005 pp | -0.005 pp | -0.0% |
| Jan 2018 | 1.954% | +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.