Hi,
With almost every stock hitting all-time-low, I wonder what's propping SPY up so far?
Let's take 13th Oct 2022 as the lowest so far @ $348. SPY is up 7.14% while the top 5 (worth 19% of SPY) is down 1.87%, the gap is 9%. So for the bottom 497 (503-6) stocks (81% weightage) to make up the missing 9%, they need to be collectively up by 11%.
Is my understanding of how SPY works and my math correct? If this is correct, which companies are gaining so much in the last 4 weeks (since 13th Oct 2022)?
Pardon me if I'm making a fool of myself if my understanding of the above is wrong, but that's how we learn! Thanks!
| % since 13th Oct 2022 | SPY weightage | Contribution | |
|---|---|---|---|
| SPY | +7.14% | 19.09% (SumOfTop5) | -1.87% (SumOfTop5) |
| AAPL | -5.68% | 6.55% | -0.37% |
| AMZN | -23.45% | 2.50% | -0.59% |
| GOOG+L | -11.85% | 3.10% | -0.37% |
| MSFT | -4.15% | 5.30% | -0.22% |
| TSLA | -19.90% | 1.64% | -0.33% |
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