Copper
Copper is losing market weight. Lost weight for 2 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 100% 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
Apr 2018 – Mar 2023 · 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 |
|---|---|---|---|---|---|---|
| Freeport-McMoRan → FCX | Copper | United States | 0.200% | -0.044 pp | -16.3% | 0.0 |
Underlying monthly industry observations
| Month | Weight | 1M change | 3M change | 6M change | 12M change | Relative return · 12M |
|---|---|---|---|---|---|---|
| Mar 2023 | 0.200% | -0.006 pp | +0.004 pp | +0.046 pp | -0.044 pp | -9.9% |
| Feb 2023 | 0.206% | -0.012 pp | +0.013 pp | +0.055 pp | -0.031 pp | -3.1% |
| Jan 2023 | 0.218% | +0.022 pp | +0.058 pp | +0.061 pp | +0.034 pp | +32.7% |
| Dec 2022 | 0.196% | +0.003 pp | +0.042 pp | +0.031 pp | -0.000 pp | +13.5% |
| Nov 2022 | 0.193% | +0.032 pp | +0.042 pp | -0.011 pp | +0.009 pp | +22.9% |
| Oct 2022 | 0.161% | +0.007 pp | +0.004 pp | -0.053 pp | -0.024 pp | +6.7% |
| Sep 2022 | 0.154% | +0.002 pp | -0.011 pp | -0.090 pp | -0.014 pp | +7.3% |
| Aug 2022 | 0.151% | -0.006 pp | -0.053 pp | -0.086 pp | -0.027 pp | -1.7% |
| Jul 2022 | 0.157% | -0.008 pp | -0.056 pp | -0.027 pp | -0.034 pp | -6.4% |
| Jun 2022 | 0.165% | -0.039 pp | -0.079 pp | -0.031 pp | -0.027 pp | -5.7% |
| May 2022 | 0.204% | -0.009 pp | -0.033 pp | +0.020 pp | -0.020 pp | -0.8% |
| Apr 2022 | 0.213% | -0.030 pp | +0.029 pp | +0.028 pp | +0.014 pp | +15.5% |
| Mar 2022 | 0.244% | +0.007 pp | +0.047 pp | +0.076 pp | +0.150 pp | +42.9% |
| Feb 2022 | 0.237% | +0.053 pp | +0.053 pp | +0.058 pp | +0.138 pp | +29.8% |
| Jan 2022 | 0.184% | -0.012 pp | -0.001 pp | -0.008 pp | +0.090 pp | +22.9% |
| Dec 2021 | 0.196% | +0.012 pp | +0.029 pp | +0.004 pp | +0.043 pp | +36.0% |
| Nov 2021 | 0.184% | -0.001 pp | +0.005 pp | -0.040 pp | +0.040 pp | +33.4% |
| Oct 2021 | 0.185% | +0.017 pp | -0.006 pp | -0.014 pp | +0.066 pp | +60.0% |
| Sep 2021 | 0.168% | -0.011 pp | -0.024 pp | +0.074 pp | +0.168 pp | +64.6% |
| Aug 2021 | 0.179% | -0.013 pp | -0.046 pp | +0.080 pp | +0.179 pp | +82.1% |
| Jul 2021 | 0.191% | -0.001 pp | -0.008 pp | +0.098 pp | +0.191 pp | +122.0% |
| Jun 2021 | 0.192% | -0.032 pp | +0.098 pp | +0.039 pp | +0.192 pp | +130.7% |
| May 2021 | 0.224% | +0.025 pp | +0.125 pp | +0.080 pp | +0.224 pp | +233.3% |
| Apr 2021 | 0.199% | +0.105 pp | +0.106 pp | +0.080 pp | +0.128 pp | +191.8% |
| Mar 2021 | 0.094% | -0.005 pp | -0.059 pp | +0.094 pp | +0.094 pp | +215.7% |
| Feb 2021 | 0.099% | +0.005 pp | -0.045 pp | +0.099 pp | +0.099 pp | +161.7% |
| Jan 2021 | 0.094% | -0.059 pp | -0.026 pp | +0.094 pp | +0.014 pp | +106.0% |
| Dec 2020 | 0.153% | +0.009 pp | +0.153 pp | +0.153 pp | +0.060 pp | +71.1% |
| Nov 2020 | 0.144% | +0.025 pp | +0.144 pp | +0.144 pp | +0.061 pp | +79.5% |
| Oct 2020 | 0.119% | +0.119 pp | +0.119 pp | +0.048 pp | +0.045 pp | +68.4% |
| Sep 2020 | 0.000% | -0.000 pp | +0.000 pp | +0.000 pp | -0.074 pp | +49.1% |
| Aug 2020 | 0.000% | +0.000 pp | +0.000 pp | +0.000 pp | -0.072 pp | +47.1% |
| Jul 2020 | 0.000% | +0.000 pp | -0.072 pp | -0.079 pp | -0.085 pp | +9.7% |
| Jun 2020 | 0.000% | +0.000 pp | +0.000 pp | -0.093 pp | -0.091 pp | -1.0% |
| May 2020 | 0.000% | -0.072 pp | +0.000 pp | -0.083 pp | -0.082 pp | -10.3% |
| Apr 2020 | 0.072% | +0.072 pp | -0.008 pp | -0.003 pp | -0.028 pp | -22.9% |
| Mar 2020 | 0.000% | -0.000 pp | -0.093 pp | -0.074 pp | -0.107 pp | -40.0% |
| Feb 2020 | 0.000% | -0.079 pp | -0.083 pp | -0.072 pp | -0.108 pp | -24.6% |
| Jan 2020 | 0.079% | -0.014 pp | +0.005 pp | -0.006 pp | +0.024 pp | -16.0% |
| Dec 2019 | 0.093% | +0.010 pp | +0.020 pp | +0.003 pp | +0.040 pp | +2.4% |
| Nov 2019 | 0.083% | +0.009 pp | +0.011 pp | +0.001 pp | +0.026 pp | -14.5% |
| Oct 2019 | 0.074% | +0.001 pp | -0.011 pp | -0.025 pp | +0.017 pp | -23.9% |
| Sep 2019 | 0.074% | +0.001 pp | -0.017 pp | -0.034 pp | +0.009 pp | -31.2% |
| Aug 2019 | 0.073% | -0.013 pp | -0.010 pp | -0.036 pp | +0.007 pp | -33.5% |
| Jul 2019 | 0.085% | -0.005 pp | -0.014 pp | +0.030 pp | -0.054 pp | -33.8% |
| Jun 2019 | 0.091% | +0.009 pp | -0.017 pp | +0.037 pp | -0.061 pp | -35.6% |
| May 2019 | 0.082% | -0.017 pp | -0.026 pp | +0.025 pp | -0.067 pp | -41.1% |
| Apr 2019 | 0.099% | -0.008 pp | +0.044 pp | +0.042 pp | -0.036 pp | -22.4% |
| Mar 2019 | 0.107% | -0.001 pp | +0.054 pp | +0.043 pp | -0.049 pp | -27.6% |
| Feb 2019 | 0.108% | +0.053 pp | +0.051 pp | +0.043 pp | -0.053 pp | -29.4% |
| Jan 2019 | 0.056% | +0.002 pp | -0.002 pp | -0.084 pp | -0.105 pp | -34.8% |
| Dec 2018 | 0.053% | -0.004 pp | -0.011 pp | -0.098 pp | -0.108 pp | -37.9% |
| Nov 2018 | 0.057% | +0.000 pp | -0.008 pp | -0.091 pp | -0.104 pp | -33.3% |
| Oct 2018 | 0.057% | -0.007 pp | -0.082 pp | -0.078 pp | -0.104 pp | -33.9% |
| Sep 2018 | 0.064% | -0.001 pp | -0.087 pp | -0.092 pp | -0.097 pp | -27.1% |
| Aug 2018 | 0.066% | -0.074 pp | -0.083 pp | -0.096 pp | -0.095 pp | -26.0% |
| Jul 2018 | 0.139% | -0.012 pp | +0.004 pp | -0.022 pp | -0.022 pp | -12.5% |
| Jun 2018 | 0.152% | +0.003 pp | -0.004 pp | -0.009 pp | -0.009 pp | -5.9% |
| May 2018 | 0.149% | +0.013 pp | -0.013 pp | -0.012 pp | -0.012 pp | -8.4% |
| Apr 2018 | 0.135% | -0.021 pp | -0.026 pp | -0.026 pp | -0.026 pp | -17.2% |
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.