Gold
Gold is gaining market weight. Lost weight for 4 consecutive months.
Most of this industry's gains 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 gains. 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 – Feb 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 |
|---|---|---|---|---|---|---|
| Newmont → NEM | Gold | United States | 0.087% | +0.087 pp | +24.0% | 0.0 |
Underlying monthly industry observations
| Month | Weight | 1M change | 3M change | 6M change | 12M change | Relative return · 12M |
|---|---|---|---|---|---|---|
| Feb 2021 | 0.087% | -0.028 pp | -0.114 pp | +0.087 pp | +0.087 pp | -4.7% |
| Jan 2021 | 0.115% | -0.080 pp | -0.124 pp | +0.114 pp | -0.068 pp | +14.4% |
| Dec 2020 | 0.195% | -0.006 pp | +0.194 pp | +0.194 pp | +0.020 pp | +20.6% |
| Nov 2020 | 0.201% | -0.038 pp | +0.200 pp | +0.200 pp | +0.042 pp | +35.2% |
| Oct 2020 | 0.239% | +0.239 pp | +0.239 pp | -0.030 pp | +0.069 pp | +52.5% |
| Sep 2020 | 0.000% | -0.000 pp | -0.000 pp | +0.000 pp | -0.165 pp | +53.5% |
| Aug 2020 | 0.000% | -0.000 pp | +0.000 pp | +0.000 pp | -0.178 pp | +46.8% |
| Jul 2020 | 0.000% | +0.000 pp | -0.269 pp | -0.182 pp | -0.159 pp | +78.9% |
| Jun 2020 | 0.000% | +0.000 pp | +0.000 pp | -0.174 pp | -0.170 pp | +59.5% |
| May 2020 | 0.000% | -0.269 pp | +0.000 pp | -0.158 pp | -0.158 pp | +69.7% |
| Apr 2020 | 0.269% | +0.269 pp | +0.087 pp | +0.099 pp | +0.127 pp | +105.8% |
| Mar 2020 | 0.000% | +0.000 pp | -0.175 pp | -0.165 pp | -0.109 pp | +48.1% |
| Feb 2020 | 0.000% | -0.182 pp | -0.158 pp | -0.178 pp | -0.105 pp | +30.6% |
| Jan 2020 | 0.182% | +0.007 pp | +0.012 pp | +0.023 pp | +0.122 pp | +19.1% |
| Dec 2019 | 0.175% | +0.016 pp | +0.010 pp | +0.005 pp | +0.109 pp | +3.1% |
| Nov 2019 | 0.159% | -0.011 pp | -0.019 pp | +0.001 pp | +0.101 pp | +8.9% |
| Oct 2019 | 0.170% | +0.005 pp | +0.010 pp | +0.028 pp | +0.114 pp | +18.7% |
| Sep 2019 | 0.165% | -0.013 pp | -0.005 pp | +0.056 pp | +0.114 pp | +28.8% |
| Aug 2019 | 0.178% | +0.019 pp | +0.020 pp | +0.073 pp | +0.124 pp | +34.1% |
| Jul 2019 | 0.159% | -0.011 pp | +0.017 pp | +0.099 pp | +0.045 pp | +0.9% |
| Jun 2019 | 0.170% | +0.012 pp | +0.061 pp | +0.104 pp | +0.048 pp | +0.3% |
| May 2019 | 0.158% | +0.016 pp | +0.053 pp | +0.101 pp | +0.032 pp | -10.5% |
| Apr 2019 | 0.142% | +0.032 pp | +0.082 pp | +0.086 pp | +0.013 pp | -22.2% |
| Mar 2019 | 0.109% | +0.004 pp | +0.043 pp | +0.058 pp | -0.018 pp | -9.4% |
| Feb 2019 | 0.105% | +0.045 pp | +0.048 pp | +0.052 pp | -0.017 pp | -8.9% |
| Jan 2019 | 0.060% | -0.006 pp | +0.004 pp | -0.054 pp | -0.063 pp | -7.9% |
| Dec 2018 | 0.066% | +0.009 pp | +0.015 pp | -0.056 pp | -0.057 pp | +1.1% |
| Nov 2018 | 0.057% | +0.001 pp | +0.004 pp | -0.069 pp | -0.066 pp | -12.8% |
| Oct 2018 | 0.056% | +0.005 pp | -0.058 pp | -0.073 pp | -0.067 pp | -15.3% |
| Sep 2018 | 0.051% | -0.002 pp | -0.071 pp | -0.077 pp | -0.072 pp | -23.4% |
| Aug 2018 | 0.053% | -0.061 pp | -0.073 pp | -0.069 pp | -0.070 pp | -21.2% |
| Jul 2018 | 0.114% | -0.008 pp | -0.015 pp | -0.009 pp | -0.009 pp | -6.2% |
| Jun 2018 | 0.122% | -0.004 pp | -0.006 pp | -0.001 pp | -0.001 pp | -0.6% |
| May 2018 | 0.126% | -0.003 pp | +0.004 pp | +0.003 pp | +0.003 pp | +1.6% |
| Apr 2018 | 0.129% | +0.001 pp | +0.006 pp | +0.006 pp | +0.006 pp | +3.0% |
| Mar 2018 | 0.128% | +0.006 pp | +0.005 pp | +0.005 pp | +0.005 pp | +2.9% |
| Feb 2018 | 0.122% | -0.001 pp | -0.001 pp | -0.001 pp | -0.001 pp | -1.3% |
| Jan 2018 | 0.123% | +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.