Steel
Steel is losing market weight. No persistent monthly direction.
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
Jan 2018 – Aug 2020 · 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 |
|---|---|---|---|---|---|---|
| Nucor → NUE | Steel | United States | 0.000% | -0.081 pp | -3.7% | 0.0 |
Underlying monthly industry observations
| Month | Weight | 1M change | 3M change | 6M change | 12M change | Relative return · 12M |
|---|---|---|---|---|---|---|
| Aug 2020 | 0.000% | +0.000 pp | -0.000 pp | +0.000 pp | -0.081 pp | -17.3% |
| Jul 2020 | 0.000% | -0.000 pp | -0.069 pp | -0.071 pp | -0.088 pp | -25.5% |
| Jun 2020 | 0.000% | -0.000 pp | +0.000 pp | -0.084 pp | -0.090 pp | -23.6% |
| May 2020 | 0.000% | -0.069 pp | +0.000 pp | -0.086 pp | -0.085 pp | -13.7% |
| Apr 2020 | 0.069% | +0.069 pp | -0.002 pp | -0.016 pp | -0.028 pp | -20.9% |
| Mar 2020 | 0.000% | +0.000 pp | -0.084 pp | -0.082 pp | -0.102 pp | -28.1% |
| Feb 2020 | 0.000% | -0.071 pp | -0.086 pp | -0.081 pp | -0.107 pp | -32.6% |
| Jan 2020 | 0.071% | -0.013 pp | -0.014 pp | -0.017 pp | +0.008 pp | -30.9% |
| Dec 2019 | 0.084% | -0.002 pp | +0.002 pp | -0.007 pp | +0.026 pp | -11.7% |
| Nov 2019 | 0.086% | +0.001 pp | +0.005 pp | +0.001 pp | +0.023 pp | -15.4% |
| Oct 2019 | 0.085% | +0.003 pp | -0.003 pp | -0.012 pp | +0.022 pp | -16.8% |
| Sep 2019 | 0.082% | +0.001 pp | -0.009 pp | -0.020 pp | +0.018 pp | -18.6% |
| Aug 2019 | 0.081% | -0.007 pp | -0.004 pp | -0.026 pp | +0.017 pp | -19.4% |
| Jul 2019 | 0.088% | -0.002 pp | -0.009 pp | +0.025 pp | -0.036 pp | -18.8% |
| Jun 2019 | 0.091% | +0.005 pp | -0.012 pp | +0.032 pp | -0.030 pp | -14.5% |
| May 2019 | 0.085% | -0.012 pp | -0.022 pp | +0.022 pp | -0.039 pp | -22.4% |
| Apr 2019 | 0.097% | -0.005 pp | +0.034 pp | +0.034 pp | -0.023 pp | -10.1% |
| Mar 2019 | 0.102% | -0.005 pp | +0.044 pp | +0.038 pp | -0.017 pp | -4.5% |
| Feb 2019 | 0.107% | +0.044 pp | +0.044 pp | +0.043 pp | -0.017 pp | -4.6% |
| Jan 2019 | 0.063% | +0.005 pp | +0.000 pp | -0.061 pp | -0.058 pp | +1.1% |
| Dec 2018 | 0.058% | -0.005 pp | -0.006 pp | -0.062 pp | -0.063 pp | -7.6% |
| Nov 2018 | 0.063% | -0.000 pp | -0.001 pp | -0.061 pp | -0.058 pp | -0.8% |
| Oct 2018 | 0.063% | -0.001 pp | -0.061 pp | -0.057 pp | -0.058 pp | -1.4% |
| Sep 2018 | 0.064% | +0.000 pp | -0.057 pp | -0.055 pp | -0.057 pp | -2.0% |
| Aug 2018 | 0.064% | -0.060 pp | -0.060 pp | -0.061 pp | -0.058 pp | -3.5% |
| Jul 2018 | 0.124% | +0.004 pp | +0.004 pp | +0.003 pp | +0.003 pp | +4.1% |
| Jun 2018 | 0.121% | -0.003 pp | +0.001 pp | -0.001 pp | -0.001 pp | +0.1% |
| May 2018 | 0.124% | +0.003 pp | -0.001 pp | +0.002 pp | +0.002 pp | +1.6% |
| Apr 2018 | 0.120% | +0.001 pp | -0.001 pp | -0.001 pp | -0.001 pp | -2.0% |
| Mar 2018 | 0.119% | -0.005 pp | -0.002 pp | -0.002 pp | -0.002 pp | -2.4% |
| Feb 2018 | 0.125% | +0.003 pp | +0.003 pp | +0.003 pp | +0.003 pp | +2.2% |
| Jan 2018 | 0.121% | +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.