Application Software
Application Software 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 84% 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 2018 · 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 |
|---|---|---|---|---|---|---|
| Oracle Corporation → ORCL | Application Software | United States | 0.624% | -0.594 pp | -5.1% | 0.0 |
| Adobe Inc. → ADBE | Application Software | United States | 0.416% | -0.144 pp | +31.9% | 0.0 |
| Salesforce → CRM | Application Software | United States | 0.373% | -0.096 pp | +34.0% | 0.0 |
| Intuit → INTU | Application Software | United States | 0.183% | -0.062 pp | +31.3% | 0.0 |
| Autodesk → ADSK | Application Software | United States | 0.109% | -0.036 pp | +33.5% | 0.0 |
| Synopsys → SNPS | Application Software | United States | 0.049% | -0.030 pp | +10.3% | 0.0 |
| Cadence Design Systems → CDNS | Application Software | United States | 0.043% | -0.029 pp | +4.9% | 0.0 |
Underlying monthly industry observations
| Month | Weight | 1M change | 3M change | 6M change | 12M change | Relative return · 12M |
|---|---|---|---|---|---|---|
| Aug 2018 | 1.798% | -1.216 pp | -1.317 pp | -1.131 pp | -0.991 pp | +17.4% |
| Jul 2018 | 3.013% | -0.026 pp | +0.046 pp | +0.225 pp | +0.225 pp | +10.4% |
| Jun 2018 | 3.040% | -0.075 pp | +0.139 pp | +0.251 pp | +0.251 pp | +10.2% |
| May 2018 | 3.115% | +0.148 pp | +0.186 pp | +0.327 pp | +0.327 pp | +11.1% |
| Apr 2018 | 2.967% | +0.066 pp | +0.179 pp | +0.179 pp | +0.179 pp | +5.1% |
| Mar 2018 | 2.901% | -0.028 pp | +0.113 pp | +0.113 pp | +0.113 pp | +3.1% |
| Feb 2018 | 2.929% | +0.140 pp | +0.140 pp | +0.140 pp | +0.140 pp | +4.6% |
| Jan 2018 | 2.788% | +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.