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 82% 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 |
|---|---|---|---|---|---|---|
| Oracle Corporation → ORCL | Application Software | United States | 0.426% | -0.404 pp | +17.2% | 0.0 |
| Adobe Inc. → ADBE | Application Software | United States | 0.526% | -0.309 pp | +30.7% | 0.0 |
| Salesforce → CRM | Application Software | United States | 0.494% | -0.303 pp | +23.7% | 0.0 |
| Intuit → INTU | Application Software | United States | 0.227% | -0.133 pp | +29.8% | 0.0 |
| Autodesk → ADSK | Application Software | United States | 0.146% | -0.068 pp | +40.9% | 0.0 |
| Tyler Technologies → TYL | Application Software | United States | 0.041% | +0.041 pp | +30.6% | 0.0 |
| Trimble Inc. → TRMB | Application Software | United States | 0.039% | +0.039 pp | +55.0% | 0.0 |
| Synopsys → SNPS | Application Software | United States | 0.094% | -0.016 pp | +73.2% | 0.0 |
| Cadence Design Systems → CDNS | Application Software | United States | 0.087% | -0.013 pp | +80.8% | 0.0 |
Underlying monthly industry observations
| Month | Weight | 1M change | 3M change | 6M change | 12M change | Relative return · 12M |
|---|---|---|---|---|---|---|
| Jan 2021 | 2.081% | -1.547 pp | -1.740 pp | +2.077 pp | -1.165 pp | +9.9% |
| Dec 2020 | 3.627% | -0.046 pp | +3.623 pp | +3.623 pp | +0.572 pp | +23.6% |
| Nov 2020 | 3.673% | -0.148 pp | +3.669 pp | +3.670 pp | +0.523 pp | +20.4% |
| Oct 2020 | 3.821% | +3.817 pp | +3.817 pp | +0.239 pp | +0.751 pp | +30.3% |
| Sep 2020 | 0.004% | -0.000 pp | +0.000 pp | +0.001 pp | -3.106 pp | +32.3% |
| Aug 2020 | 0.004% | +0.001 pp | +0.001 pp | +0.002 pp | -3.234 pp | +28.9% |
| Jul 2020 | 0.004% | -0.000 pp | -3.578 pp | -3.242 pp | -3.187 pp | +16.3% |
| Jun 2020 | 0.004% | +0.000 pp | +0.001 pp | -3.052 pp | -3.196 pp | +20.7% |
| May 2020 | 0.004% | -3.578 pp | +0.001 pp | -3.146 pp | -3.234 pp | +16.9% |
| Apr 2020 | 3.582% | +3.579 pp | +0.336 pp | +0.512 pp | +0.241 pp | +13.0% |
| Mar 2020 | 0.003% | +0.000 pp | -3.053 pp | -3.108 pp | -3.287 pp | +11.3% |
| Feb 2020 | 0.003% | -3.243 pp | -3.148 pp | -3.236 pp | -3.309 pp | +6.3% |
| Jan 2020 | 3.246% | +0.190 pp | +0.176 pp | +0.055 pp | +1.488 pp | +8.0% |
| Dec 2019 | 3.056% | -0.095 pp | -0.055 pp | -0.144 pp | +1.335 pp | +3.3% |
| Nov 2019 | 3.150% | +0.080 pp | -0.088 pp | -0.088 pp | +1.389 pp | +6.5% |
| Oct 2019 | 3.070% | -0.040 pp | -0.121 pp | -0.270 pp | +1.316 pp | +3.2% |
| Sep 2019 | 3.110% | -0.128 pp | -0.089 pp | -0.179 pp | +1.301 pp | +3.8% |
| Aug 2019 | 3.239% | +0.048 pp | +0.001 pp | -0.073 pp | +1.441 pp | +10.8% |
| Jul 2019 | 3.191% | -0.009 pp | -0.150 pp | +1.432 pp | +0.177 pp | +19.2% |
| Jun 2019 | 3.200% | -0.038 pp | -0.090 pp | +1.479 pp | +0.160 pp | +18.2% |
| May 2019 | 3.238% | -0.102 pp | -0.074 pp | +1.477 pp | +0.123 pp | +16.0% |
| Apr 2019 | 3.340% | +0.050 pp | +1.582 pp | +1.586 pp | +0.373 pp | +24.2% |
| Mar 2019 | 3.290% | -0.022 pp | +1.569 pp | +1.481 pp | +0.389 pp | +24.8% |
| Feb 2019 | 3.311% | +1.553 pp | +1.551 pp | +1.514 pp | +0.383 pp | +22.9% |
| Jan 2019 | 1.758% | +0.037 pp | +0.004 pp | -1.255 pp | -1.030 pp | +23.0% |
| Dec 2018 | 1.721% | -0.040 pp | -0.088 pp | -1.319 pp | -1.067 pp | +19.7% |
| Nov 2018 | 1.761% | +0.007 pp | -0.037 pp | -1.354 pp | -1.028 pp | +20.1% |
| Oct 2018 | 1.754% | -0.055 pp | -1.259 pp | -1.213 pp | -1.034 pp | +19.5% |
| Sep 2018 | 1.809% | +0.012 pp | -1.230 pp | -1.092 pp | -0.979 pp | +21.1% |
| 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.