Sub-industry momentum diffusion

Has market strength spread from a few sub-industries to more business areas?

Sectors and market breadth SEC-050 Heatmap Sample

Download CSV Sample JSON Specification JSON Sample as of 2026-10-16

0700.HK Tencent Holdings | Hang Seng Index | 2025-10-16 – 2026-10-16 | HKD

Highest item: Banks: 32.2 %
Lowest item: Retail: 14.5 %
Average: 19.1 %
Number of items: 5 items

Sub-industry momentum heatmap

Share of sub-industries with positive relative return (%) (Heatmap)

Diffusion ratio

Eligible sub-industries (sub-industries) (Bar)

Member and classification coverage

Share of sub-industries with positive relative return (%) and Eligible sub-industries (sub-industries) (Table)

Sample data rows

Sub-industry and window	Share of sub-industries with positive relative return (%)	Eligible sub-industries (sub-industries)	Data date (sample)
Semiconductors	15.5	8	2026-10-16
Software	15.2	15	2026-10-16
Banks	32.2	8	2026-10-16
Insurance	18.3	38	2026-10-16
Retail	14.5	38	2026-10-16

Source and limits

Research question

Has market strength spread from a few sub-industries to more business areas?

Axes and units

Horizontal axis: Sub-industry and window
Vertical axis: Share of sub-industries with positive relative return (%)
Metric: Share of sub-industries with positive relative return (%)
Comparison metric: Eligible sub-industries (sub-industries)

Calculation method

First build the equal-weighted return of each sub-industry using the minimum company count, then calculate the share of sub-industries with positive return relative to the benchmark, along with the heatmap.

Limitations

Small sub-industries are naturally more volatile. The sector classification snapshot and minimum-member threshold are fixed; groups cannot be kept selectively for good performance. Market breadth must cover the full selected constituents and state the valid denominator; the first 1,000 Screener rows must not be treated as the whole market.

The plotted values are generated sample data and do not result from this calculation.

Data API requirements

EOD
FUND
EXCHANGE

Data class: Derived
Complexity: High
Update cadence: After each trading day's close
Needs user-supplied input: No
Needs extra data plan: No

API names are the data groups the original specification requires, listed as methodology metadata only. This page makes no live data connection and is not connected to the live market data shown elsewhere on the site.

Source documentation

Design priority

Catalogue priority 929 of 1,000 (stage P4), a planning estimate from the original workbook.