Research / Markets

Markets

Breadth across the universe, industry breakdown, US and world equity heat, and what correlation and dispersion say about the regime
S&P 500
7,677.28
+0.32%
Nasdaq Comp
26,151.3
+0.66%
Dow Jones
53,577.4
+0.30%
VIX
15.45
-2.52%
Russell 2000
Above 200-DMA
138/178
covered names
Advancing
3,772
of 6,614 that moved
Declining
2,842
952 flat
Advance share
57%
of 6,614 that moved
Avg correlation
0.05
15,576 pairs · 60d
Dispersion
1.93%
across 177 names, today
Realised vol
36%
median, annualised

Breadth counts 7,566 company shares from the 2026-08-13 close (funds and ETFs excluded — they re-count the same companies). Correlation, dispersion and volatility need price histories, so they are computed across the 177 names we carry full series for, not the whole universe.

How the day was distributed

day change, %
497under −5
707−5 to −2
597−2 to −1
1,041−1 to 0
1,4520 to +1
769+1 to +2
929+2 to +5
622+5 or more

Each bar counts the company shares whose price moved that much at the 2026-08-13 close — one company, one count, not weighted by size.

Excludes the 952 names that closed exactly flat — the “flat” count above — so the bars total 6,614, the ones that actually moved. Each bucket takes its lower bound and stops short of its upper one; zero belongs to neither side. Median move across all 7,566: +0.00%.

Industries

median 1-month, covered names
Gold Mining4+47.7%3/4> 200d
SIC 10001+29.6%1/1> 200d
SIC 33571+16.8%1/1> 200d
Semi Equipment2+16.7%2/2> 200d
Computers2+15.1%2/2> 200d
Software13+14.8%11/13> 200d
Oil & Gas6+14.0%6/6> 200d
Precious Metals1+14.0%1/1> 200d
Autos2+13.9%1/2> 200d
SIC 78411+13.6%0/1> 200d
E-Commerce1+13.1%1/1> 200d
SIC 35762+12.5%2/2> 200d
Biotech3+12.5%3/3> 200d
Entertainment1+12.5%1/1> 200d
SIC 13112+12.2%2/2> 200d
SIC 48411+12.0%1/1> 200d
SIC 36781+10.4%1/1> 200d
SIC 35723+10.0%3/3> 200d
SIC 38291+9.0%1/1> 200d
SIC 38231+8.5%1/1> 200d
SIC 48321+8.0%1/1> 200d
SIC 47001+7.3%1/1> 200d
Platform Services8+7.2%5/8> 200d
SIC 62822+7.1%2/2> 200d
Data Processing2+7.0%1/2> 200d
SIC 62001+6.7%0/1> 200d
SIC 35772+6.6%2/2> 200d
Capital Markets4+5.9%4/4> 200d
SIC 35901+5.9%1/1> 200d
Semiconductors12+5.4%10/12> 200d
SIC 40112+5.1%2/2> 200d
SIC 38451+4.9%1/1> 200d
SIC 60221+4.6%1/1> 200d
SIC 48132+4.5%2/2> 200d
Beverages2+3.8%1/2> 200d
SIC 283411+3.5%10/11> 200d
Internet Services5+3.2%2/5> 200d
SIC 35701+2.9%0/1> 200d
SIC 38421+2.8%0/1> 200d
SIC 17311+2.6%1/1> 200d
SIC 58101+2.6%1/1> 200d
SIC 34901+2.6%1/1> 200d
SIC 80621+2.5%0/1> 200d
Drug Distribution3+2.3%3/3> 200d
SIC 73201+2.0%1/1> 200d
Managed Health4+1.7%4/4> 200d
SIC 49221+1.3%1/1> 200d
SIC 35851+1.1%1/1> 200d
SIC 64111+0.6%1/1> 200d
Holding Companies1+0.6%1/1> 200d
Banks5-0.2%4/5> 200d
SIC 61991-0.2%0/1> 200d
SIC 20861-0.3%1/1> 200d
SIC 48121-0.4%0/1> 200d
Other1-0.6%0/1> 200d
Broadline Retail2-0.7%1/2> 200d
REITs5-1.0%5/5> 200d
SIC 36631-1.4%0/1> 200d
SIC 35231-1.4%1/1> 200d
Insurance4-1.6%4/4> 200d
SIC 52112-1.7%0/2> 200d
SIC 38412-1.7%1/2> 200d
SIC 36003-1.8%3/3> 200d
SIC 58121-1.8%0/1> 200d
SIC 28401-2.3%0/1> 200d
SIC 60291-2.5%1/1> 200d
SIC 21112-3.1%2/2> 200d
SIC 38221-3.1%1/1> 200d
SIC 35311-3.5%1/1> 200d
SIC 37241-3.8%1/1> 200d
SIC 38271-3.9%1/1> 200d
SIC 37601-4.3%1/1> 200d
SIC 28101-4.7%1/1> 200d
SIC 37211-4.7%0/1> 200d
SIC 36791-5.1%1/1> 200d
SIC 49113-5.7%0/3> 200d
SIC 49311-5.9%0/1> 200d
SIC 70111-6.7%1/1> 200d
SIC 49531-7.2%0/1> 200d
SIC 33501-7.7%1/1> 200d
SIC 46101-8.7%0/1> 200d
SIC 56511-13.3%0/1> 200d
Drug Stores1-15.0%1/1> 200d
Specialty Retail1-18.4%0/1> 200d

US equity map

400 companies · $75.15T of market cap · 2026-08-13
-3.0%-1.5%flat+1.5%+3.0%±3% and beyond is full colour

Area is market capitalisation — shares outstanding times today's close, so no stale stored cap enters the picture. Colour is the day's move, saturating at ±3%. Companies nest inside their industry, industries inside their sector. Only names we hold a share count for can be drawn, so this is the large-cap end of the universe, not all 7,566 company shares we hold a close for.

All four lists are drawn from the 2,591 company shares trading at least $10M on the session — without that floor, “top gainers” is a list of micro caps moving on almost no turnover. “Unusual volume” compares a name to its OWN prior session — and requires that session to have traded at least 50K shares, because a near-zero baseline produces a five-figure multiple that means nothing.

World equity heat

25 of 25 markets printing · 2026-08-25
Russia
MOEX Russia+2.2%

MOEX Russia Index

Russia · Moscow Exchange (MOEX), in rubles

Russia's 46 biggest, most-traded stocks, sized by shares available to trade — roughly 78% of the Moscow market.

Holds
46 share lines from 43 issuers; 50 max, floats
Weighted by
free-float market cap, 15% issuer cap at reviews only
Covers
top liquid large caps, ~78% of MOEX equity value (est.)

Worth knowing. Most Western investors cannot buy this — the US sanctioned the exchange and its clearing house in June 2024, and foreign holdings sit frozen. The index also excludes dividends, which are large in Russia.

Brazil
Bovespa+1.6%

Ibovespa (Índice Bovespa)

Brazil · B3, São Paulo — also the provider

The 78 or so most heavily traded stocks on Brazil's main exchange — about 80% of all trading there.

Holds
78–79 assets, 76 companies; floats each review
Weighted by
free-float market cap, 20% company cap + liquidity cap
Covers
most-traded stocks; ~80% of Brazil's trades and volume

Worth knowing. The headline Ibovespa already counts reinvested dividends, unlike the S&P 500 chart, and it is in reais — so Brazil looks stronger than a same-basis, dollar comparison would show.

Australia
S&P/ASX 200+1.3%

S&P/ASX 200

Australia · Australian Securities Exchange

The 200 biggest, most-traded companies on Australia's stock exchange, out of roughly 2,000 listed there.

Holds
200, fixed by rule (brief gaps after deletions)
Weighted by
free-float market cap, uncapped (no single-stock limit)
Covers
large and mid caps; 200 largest, most-traded ASX stocks

Worth knowing. Really a banks-and-miners index: the big four banks, BHP, Rio Tinto and Macquarie dominate it, with very little technology, so it behaves differently from the US S&P 500. The quoted level omits dividends.

South Korea
KOSPI+1.2%

KOSPI (Korea Composite Stock Price Index)

South Korea · Korea Exchange (KRX), KOSPI Market

Covers every ordinary share on South Korea's main exchange — some 830 companies, about 90% of the market.

Holds
~830 common stocks, count floats with listings
Weighted by
full market cap (listed shares), NOT free-float; uncapped
Covers
all common stocks on KRX main board, ~92% of Korea's value

Worth knowing. Two chip stocks are over half of it: on 13 Aug 2026 Samsung Electronics ~29%, SK Hynix ~21%; the pair swung from ~40% in Feb 2026 to a ~59% June peak. Price-return index — dividends excluded.

Taiwan
Taiwan Weighted+0.8%

TAIEX (Taiwan)

Taiwan · Taiwan Stock Exchange (TWSE)

It holds over 1,000 stocks — nearly every company on Taiwan's main exchange, about 93% of all Taiwan-listed stock.

Holds
1,068 (31 Jul 2026); floats, no periodic review
Weighted by
full issued-share market cap, NOT free-float; no cap
Covers
TWSE main board, ~93% of Taiwan's listed market value

Worth knowing. One company, chipmaker TSMC, is about 45% of the index and the ten biggest are 62%, with no limit on any single stock — when TSMC moves, the index moves. The quoted level is price only and leaves out dividends.

Sweden
OMX Stockholm 30+0.8%

OMX Stockholm 30 Index (OMXS30)

Sweden · Nasdaq Stockholm (Sweden)

Sweden's 30 biggest and most-traded listed companies — the big end of the Stockholm stock market.

Holds
30, fixed by rule; brief extras via fast entry
Weighted by
modified free-float market cap, 15% cap set at review
Covers
30 largest, most-traded names; no % of market published

Worth knowing. The headline OMXS30 number leaves out dividends, which are large in Sweden, so it understates what a holder actually earned. The with-dividends version is a separate ticker, OMXS30GI.

Mexico
IPC Mexico+0.8%

S&P/BMV IPC

Mexico · Bolsa Mexicana de Valores (BMV)

Tracks the 35 biggest, most-traded companies on Mexico's stock exchange, roughly 80% of that market.

Holds
35 by rule; can dip below between rebalances
Weighted by
free-float market cap, capped: 15% single, 45% top five
Covers
large caps, ~80% of Mexican market cap (10-yr avg); no FIBRAS

Worth knowing. The big names are trimmed on purpose: since 2024 no company may exceed 15% and the top five 45% combined, so América Móvil and Walmex count for less than their real size. MXX tracks price only, not dividends.

Canada
S&P/TSX Composite+0.7%

S&P/TSX Composite Index

Canada · Toronto Stock Exchange (TSX)

About 217 Canadian stocks listed in Toronto, weighted by company size — roughly 95% of Canada's stock market.

Holds
217 securities (Aug 2026); floats, not fixed
Weighted by
free-float market cap, uncapped — no 10% cap
Covers
~95% of Canadian market cap; large, mid and smaller caps

Worth knowing. Broad does not mean diversified: banks and other financial firms are about 35% of it, natural-resource companies another 33%, and health care 0.3%. Nearly 70% sits in three industries.

Germany
DAX+0.6%

DAX (DAX 40) Performance Index

Germany · Frankfurt Stock Exchange (Xetra)

Germany's 40 biggest listed companies — roughly 80% of the value of the country's stock market.

Holds
Exactly 40, fixed by rule (30 before Sep 2021)
Weighted by
Free-float market cap; 15% cap per stock since Mar 2024
Covers
40 largest by free-float cap, ~80% of German market value

Worth knowing. The DAX number you see includes dividends added back in; the S&P 500, FTSE and Nikkei numbers don't. That flatters the DAX by roughly 2-3 points a year, so comparing its long-run gains to theirs is unfair.

Switzerland
Swiss Market Index+0.5%

Swiss Market Index (SMI)

Switzerland · SIX Swiss Exchange (Zurich)

Switzerland's 20 biggest listed companies — Nestlé, Novartis, Roche — over three-quarters of the Swiss stock market.

Holds
20, fixed by rule; annual review + ad-hoc changes
Weighted by
free-float market cap; 18% cap reset quarterly, not live
Covers
20 largest, most liquid; >75% of Swiss free-float value

Worth knowing. The quoted SMI is a price index — dividends excluded (SMIC is the total-return version). It is also top-heavy: Novartis, Roche and Nestlé were about 47% of it on 30 June 2026, a share that shifts quarterly.

Saudi Arabia
Tadawul All Share+0.5%

Tadawul All Share Index (TASI)

Saudi Arabia · Saudi Exchange (Tadawul)

Covers everything on Saudi Arabia's main stock market: about 270 companies and property funds, worth ~$2.5 trillion.

Holds
~270, floats with new listings; 20 are REITs
Weighted by
free-float market cap, 15% cap per issuer (reset quarterly)
Covers
whole Main Market, ~$2.5tn listed value; Nomu excluded

Worth knowing. Aramco alone is about 68% of the market's total value, but the index counts only freely traded shares, and the government's huge stake is stripped out — so Aramco moves it far less than that suggests.

India
NIFTY 50+0.5%

Nifty 50

India · National Stock Exchange of India

50 of India's largest and most-traded companies, together about half the value of its main exchange.

Holds
50, fixed by rule; reviewed semi-annually
Weighted by
free-float market cap, NO cap on individual weights
Covers
large caps, F&O-eligible; ~53.7% of NSE free-float value

Worth knowing. Nothing caps how big one holding gets. The two largest banks are nearly 20% of the index between them, and financial companies alone are over a third of it. The headline level also leaves out dividends.

Hong Kong
Hang Seng+0.5%

Hang Seng Index

Hong Kong · HKEX Main Board, Hong Kong

93 big Hong Kong-listed companies, worth about two-thirds of the value of the market they are drawn from.

Holds
93 (Jul 2026), not fixed; target 100, quarterly
Weighted by
free-float market cap; 8% cap set at quarterly rebalance
Covers
large + mid caps; 66.75% of its eligible universe's value

Worth knowing. It says Hong Kong, but it is mostly mainland China: 70 of the 93 companies, and 73% of the index's value, are mainland firms listed in Hong Kong. HSBC, Tencent and Alibaba alone are a quarter of it.

Norway
OSE Benchmark+0.4%

Oslo Børs Benchmark Index_GI (OSEBX)

Norway · Euronext Oslo Børs, Norway

Holds about 60 of the roughly 180 companies on Norway's stock exchange — the biggest, most traded ones.

Holds
62 (Aug 2026); not fixed by rule, floats at review
Weighted by
free-float market cap, UNCAPPED (no capping factor)
Covers
largest, most-traded: ~62 of ~178 Oslo-listed firms

Worth knowing. Gross TOTAL-RETURN index (dividends reinvested), unlike most price-only headline indices. Also uncapped: at Mar 2026 Equinor was ~16% and Equinor plus DNB Bank ~26%, so it tracks oil and banks more than Norway.

Israel
Tel Aviv 35+0.3%

TA-35 (was TA-25 until Feb 2017)

Israel · Tel Aviv Stock Exchange (TASE)

Israel's biggest listed companies, around 35 of them, together worth more than half the Tel Aviv market's value.

Holds
35 by rule, 36 in the live table (Aug 2026)
Weighted by
capped free-float market cap, plus liquidity factor
Covers
large caps; est. 60-65% of TASE value, under 40% ex-Palo Alto

Worth knowing. Headline level is gross total return (dividends reinvested), not comparable to price-only headlines like the S&P 500. Also Palo Alto is ~a quarter of the market but ~1.4% of the index, while Teva sits at 8%.

United States
S&P 500+0.3%

S&P 500

United States · No exchange; S&P Dow Jones Indices

Tracks 500 large US companies picked by a committee, weighted by size — about 80% of US market value.

Holds
500 companies by rule, 503 securities (Jul 2026)
Weighted by
float-adjusted market cap, no cap on any single weight
Covers
US large caps, ~80% of available US market cap

Worth knowing. It sounds spread over 500 firms, but the 10 biggest holdings were 37.6% of it (Jul 31, 2026), mostly big tech. The headline number is also price-only: it leaves out dividends.

United Kingdom
Cboe UK 100+0.3%

Cboe UK 100 (price return)

United Kingdom · Cboe Europe Indices (CXE prices)

The 100 largest UK-listed companies, about 90% of the value of the UK shares this index family covers.

Holds
100, fixed target by rule; reviewed quarterly
Weighted by
free-float mcap; 27% single & 54% top-5 caps; full-cap pick
Covers
large caps, ~91% of the Cboe UK All Companies universe

Worth knowing. Despite the name, this is not the FTSE 100. It is Cboe's rival index of nearly the same companies, priced on Cboe's own exchange, so its level and history differ. It also leaves out dividends.

China
Shanghai Composite+0.2%

SSE Composite Index (SHCOMP)

China · Shanghai Stock Exchange

Nearly every stock listed in Shanghai — about 2,200 — so it moves with that exchange, not all of China.

Holds
2,224 securities, Jul 2026; not fixed, floats
Weighted by
total market cap, NOT free-float; no weight cap
Covers
Shanghai only: ~94.5% of SSE-listed securities

Worth knowing. The headline number leaves out dividends (about 2.3% a year), and the rules changed in 2020 without redoing history — so today's level vs the 2007 peak of 6,124 is not a like-for-like comparison.

Poland
WIG20+0.2%

WIG20

Poland · Warsaw Stock Exchange (GPW)

Poland's 20 biggest, most-traded companies on the Warsaw exchange - roughly 80% of its daily trading.

Holds
exactly 20, fixed; March review + quarterly tweaks
Weighted by
free-float market cap, 15% cap only reset at review
Covers
20 biggest, most liquid; ~80% of Main Market turnover

Worth knowing. WIG20 is a price index - dividends are excluded, so it understates total return. Five state-controlled companies are about 55% of it, so it moves with government policy more than with Poland's wider economy.

Vietnam
VN Index+0.1%

VN-Index

Vietnam · Ho Chi Minh City Stock Exchange

Every company on Vietnam's main stock exchange — but one firm, Vingroup, counts for about a fifth of the total.

Holds
Not fixed: all HOSE main-board stocks, 402 mid-2026
Weighted by
full market cap, NOT free-float, uncapped; price return
Covers
entire HOSE main board; >95% of Vietnam's listed equity

Worth knowing. One company, Vingroup, is about 18% of the whole index, because shares locked up by founders and the state still count. In April 2026 its one-day jump caused essentially the entire index rise.

Japan
Nikkei 225+0.1%

Nikkei Stock Average (Nikkei 225)

Japan · Tokyo Stock Exchange Prime Market

225 of Japan's biggest listed companies, together worth about half the value of the Tokyo stock market.

Holds
225, fixed by rule (twice-yearly reviews)
Weighted by
price-weighted: adjusted prices / divisor, 10% soft cap
Covers
225 top TSE Prime names; roughly half of Japan's market value

Worth knowing. What moves it is share price times a per-stock adjustment factor - company size never enters. A mid-sized firm can sway the Nikkei more than a giant: Advantest alone was about 12% in July 2026.

Spain
IBEX 35-0.1%

IBEX 35

Spain · Bolsa de Madrid (SIBE), BME Group

Spain's 35 biggest and most-traded listed companies — most of the value on the Spanish stock market.

Holds
exactly 35, fixed by rule; only identities change
Weighted by
free-float market cap in float bands, 20% cap at reviews
Covers
large caps: 35 most liquid Spanish stocks, no sector balance

Worth knowing. Price-return: the quoted level excludes dividends (5yr +114% vs +158% total return). And concentration is extreme — Santander, Iberdrola, BBVA, Inditex were ~56% of the index in Dec 2025, financials ~36%.

Netherlands
AEX-0.1%

AEX-Index

Netherlands · Euronext Amsterdam

The 30 largest companies trading in Amsterdam, covering roughly 90% of the Dutch stock market's value.

Holds
30, fixed by rule (was 25 until Sep 2025)
Weighted by
capped free-float market cap, 15% cap reset only at reviews
Covers
30 largest Amsterdam shares; ~93% of AEX All-Tradable value

Worth knowing. Top-heavy: ASML, Shell and Unilever together are about 42% of the index, and three chip-equipment stocks are ~23%. It often tracks the chip cycle more than the Dutch economy.

France
CAC 40-0.2%

CAC 40 (Euronext code PX1)

France · Euronext Paris, calculated in EUR

It holds the 40 biggest, most-traded companies listed in Paris, about 90% of the value of French shares people trade.

Holds
Exactly 40, fixed by rule; reviewed quarterly
Weighted by
free-float market cap; 15% cap currently not binding
Covers
40 large caps, ~90% of tradable Paris by free float

Worth knowing. The headline CAC 40 number leaves dividends out. With dividends counted, the index grew about 8.8% a year since 1987 rather than the 5.5% the quoted figure shows.

Turkey
BIST 100-0.2%

BIST 100

Turkey · Borsa İstanbul, Türkiye

Turkey's main stock index: 100 big Istanbul-listed companies, about two-thirds of the market's value.

Holds
100, fixed by rule; quarterly 1-for-1 swaps
Weighted by
Free-float market cap, uncapped (NOT price-weighted)
Covers
Large + liquid mid caps, ~67% of listed market value

Worth knowing. Headline figure is in Turkish lira and excludes dividends: a big nominal gain can be much smaller in real or dollar terms. Also, lira BIST history was divided by 100 on 27 Jul 2020, so older data is off by 100.

A market with no print is closed, not flat — those tiles say so rather than showing a zero. Tap i on any market to see what its index actually holds. Each index measures its own market in its own currency, so these moves are not converted to dollars and are not comparable as returns to a US investor.
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Prices: EODHD · industries from SEC SIC codes · 200-DMA from the close of 2026-08-25 (1 names from another session) · macro →