Week Ending: 28 August 2026

Germany DE Sector

Financial Services

For the week ending 28 August 2026, Financial Services advanced 1.81% with 65 advancing, 27 declining, and 3 unchanged constituents. The index is equal weighted and built from country-listed equities.

Current architecture Upward Expansion

The activity fan is positively ordered above a rising Trend Line with price accepted above it.

74 technical evidence
Index2465.32 1 week1.81% Breadth68% Members95
Country 🇩🇪 Germany · DE
Universe country-listed
Price basis Adjusted weekly close

Trend architecture

Index, activity fan and structural anchors

Rolling 156-week evidence. Trend Signal points mark weeks when price, trend and the activity fan confirmed together.

Index Value Trend Line Fair Value Activity Lines Constructive architecture Transitional architecture Defensive architecture
Current architecture Upward Expansion 10 completed weeks in this state
Trend acceptance 4.8% Index versus Trend Line
Persistence 100% Positive across every horizon
Participation 68% 65 advancing, 27 declining

Investor positioning lens

Is the evidence ready for capital?

A rules-based technical classification using trend, breadth, persistence, relative strength and path quality.

Current posture Positioning window open

Trend, participation and relative evidence are sufficiently aligned for selective exposure.

74 technical evidence
out of 100
Evidence balance

Five-pillar map

Position
Trend
72
Breadth
70
Persistence
71
Relative
78
Risk quality
89
What supports the view
  • The index remains above a constructive Trend gate.
  • Participation is broad enough to support the index move.
  • Constituent trends show positive multi-horizon persistence.
  • Relative performance is improving within its parent hierarchy.
What restrains conviction
  • The index is extended well above current Fair Value, increasing chase risk.
Independent sentiment overlay Sentiment held separate

Qualified news coverage is too thin to alter the technical positioning view.

Evidence that would change the view
  1. A completed weekly close below the Trend Line at 2,353.02 would weaken the constructive case.
  2. Breadth falling below 45% while the index holds up would signal narrowing leadership.
  3. A turn to negative 13 and 26-week parent-relative performance would remove the rotation edge.

This is a weekly research classification, not personal investment advice. Sentiment is reported as an independent confirmation layer and does not alter the technical score.

Trend state and durability

Architecture, persistence and constituent regimes

The index path is tested against the underlying security-level trend evidence.

Index architecture Upward Expansion

The activity fan is positively ordered above a rising Trend Line with price accepted above it.

State age10 weeks
Trend gateUp
Fan width2.45%
Fast versus slow change-0.44 pts
Above 83% Below 0%
Six completed weeks of price acceptance relative to the full Activity Line fan.
Index persistence

Positive across every horizon

100% agreement

The 13, 26, 39 and 52-week trends all point upward, giving the advance broad horizon agreement.

13-week
3.8%
26-week
5.7%
39-week
6.3%
52-week
7.8%
Regime age104 weeks 52-week flips0 52-week boundary2287.42
Constituent trend persistence

Is the index move broadly durable?

93% coverage
Coherent positive49%
Coherent negative17%
Average horizon agreement88%
Positive horizon share66%
Weakening positives7
Repairing negatives7

88 constituents measured as of 28 Aug 2026. Median trend age is 26 weeks.

Custom stage map

Where constituents sit in the cycle

91% coverage
Stage 1 · Basing7%6 securities
Stage 2 · Advancing51%44 securities
Stage 3 · Distribution13%11 securities
Stage 4 · Declining29%25 securities
Re-acceleration watch0 Transition watch7 Relative strength leaders30% Fair Value repairs4

Measured as of 28 Aug 2026. Stages summarize price, Activity Line architecture, Fair Value position and relative evidence.

Architecture breadth

How market energy is distributed

79/100 mean confidence
Upward expansion
49% 42
Rotation up
3% 3
Deceleration
10% 9
Balance
12% 10
Rotation down
2% 2
Downward expansion
23% 20
Unresolved
0% 0

Architecture breadth shows the distribution of expanding, rotating, balancing and contracting securities. It is diagnostic context and is not added as a second vote in the positioning score.

Capital rotation

Performance relative to DE Market Structure

Improving
Relative index 13-week relative trend Starting level
Rotation dashboard Improving

A rising relative line means this group is compounding faster than DE Market Structure. A falling line means capital has done better in the parent benchmark.

Relative index131.6
13-week trend131.4
4-week trend change1.06%
Weekly peer rank1 of 11
1 week
0.9 pts relative
4 weeks
-1.9 pts relative
13 weeks
4.1 pts relative
26 weeks
2.7 pts relative
52 weeks
-1.7 pts relative

Market internals

Participation, dispersion and path risk

Equal-weight index evidence with constituent-level breadth and dispersion.

Breadth

Participation quality

Broad
Advancing
65
Declining
27
Unchanged
3
4-week average 50%
13-week average 52%
Risk and persistence

Path quality

52-week lens
Annualised weekly volatility11.0%
Drawdown from 52-week high0.0%
Positive weeks, last 1354%
Current directional run1 week
Turnover versus 13-week norm175%
Breadth impulse18.0 pts
Cross-section

Return distribution

95 measured
Q1 -0.2% Median 1.4% Q3 3.1%
Average winner5.4%
Average loser-1.8%
Dispersion16.2 pts
Top-five upside share55%
Top-five capital share43%
Capital data coverage100%

Dispersion describes how far constituent outcomes are spreading apart. Capital concentration is contextual only; the index itself is equal weighted.

Momentum cycle

30-week persistence

Positive readings show expansion. Negative readings show contraction.

Breadth cycle

Net participation

Advancers less decliners as a percentage of measured constituents.

Industry map

Where sector leadership is forming

Performance, breadth and trend acceptance across every qualified industry.

9/9 positive
Above Trend Line7/978% of industries
Constructive breadth8/9At least half advancing
Median industry1.48%0.81 pts dispersion
#1 Repairing

Asset Management

3.01%
Participation74% vs Trend-2.8% vs Fair Value2.4% Members23
#2 Transition

Credit Services

2.19%
Participation71% vs Trend3.8% vs Fair Value-5.7% Members7
#3 Advancing

Insurance - Diversified

1.72%
Participation78% vs Trend9.8% vs Fair Value45.0% Members9
#4 Advancing

Financial Data & Stock Exchanges

1.65%
Participation80% vs Trend2.4% vs Fair Value13.0% Members5
#5 Advancing

Banks - Diversified

1.48%
Participation82% vs Trend13.5% vs Fair Value63.5% Members11
#6 Advancing

Insurance - Reinsurance

1.40%
Participation100% vs Trend6.1% vs Fair Value21.6% Members3
#7 Transition

Capital Markets

0.53%
Participation36% vs Trend-1.4% vs Fair Value14.9% Members11
#8 Advancing

Financial Conglomerates

0.52%
Participation67% vs Trend0.8% vs Fair Value12.2% Members3
#9 Advancing

Banks - Regional

0.37%
Participation56% vs Trend8.7% vs Fair Value49.3% Members18

News and narrative

Does company news confirm the market tape?

Open Sentiment Intelligence
Sentiment evidence is still developing

Qualified company-level news coverage is not yet broad enough to influence the group view.

1 qualified records across 95 measured constituents.

Leadership tape

Leaders, laggards and contribution shape

Latest completed week, ranked on uncapped constituent returns.

Leading edge

1 M5SH2 Core AG
157.14% 2 SPCStaige One AG
13.53% 3 LQAGLaiqon AG
9.17% 4 PBBDeutsche Pfandbriefbank AG
8.59% 5 DBKDeutsche Bank Aktiengesellschaft
7.81%

Weakest edge

95 SGESociété Générale Société anonyme
-5.03% 94 BNPBNP Paribas SA
-4.76% 93 N4G0The NAGA Group AG
-4.17% 92 MUXMutares SE & Co. KGaA
-3.54% 91 XCACrédit Agricole S.A.
-3.35%

Constituent ledger

Sector constituents

All 95 measured constituents, ranked by latest weekly return.

Rank Ticker Company Exchange Market cap Close Index contribution Return
1 M5S H2 Core AG GER 449,362 0.09 0.26 pts
157.14%
2 SPC Staige One AG GER 15.15M 1.93 0.14 pts
13.53%
3 LQAG Laiqon AG GER 118.05M 4.88 0.10 pts
9.17%
4 PBB Deutsche Pfandbriefbank AG GER 453.99M 3.49 0.09 pts
8.59%
5 DBK Deutsche Bank Aktiengesellschaft GER 65.07B 34.90 0.08 pts
7.81%
6 PA9 The Travelers Companies, Inc. GER 65.20B 317.90 0.07 pts
6.68%
7 FTK flatexDEGIRO SE GER 3.95B 38.12 0.07 pts
6.48%
8 HYQ Hypoport SE GER 555.07M 88.50 0.06 pts
5.80%
9 VG80 Ascory Bank AG GER 24.71M 2.56 0.06 pts
5.79%
10 EFF0 Deutsche Effecten- und Wechsel-Beteiligungsgesellschaft AG GER 3.65M 2.26 0.06 pts
5.61%
11 MLP MLP SE GER 1.04B 9.50 0.06 pts
5.44%
12 PCZ ProCredit Holding AG GER 501.23M 8.77 0.05 pts
4.90%
13 GLJ Grenke AG GER 489.49M 11.64 0.05 pts
4.86%
14 LUS1 Lang & Schwarz Aktiengesellschaft GER 179.32M 18.20 0.05 pts
4.58%
15 CGX CGRE AG GER 85.80M 14.30 0.05 pts
4.38%
16 TLX Talanx AG GER 32.02B 125.40 0.04 pts
3.81%
17 CBK Commerzbank AG GER 44.24B 40.48 0.04 pts
3.77%
18 M4I Mastercard Incorporated GER 448.52B 514.80 0.04 pts
3.73%
19 NWT Wells Fargo & Company GER 220.69B 74.39 0.04 pts
3.54%
20 GOS The Goldman Sachs Group, Inc. GER 260.77B 900.00 0.04 pts
3.52%
21 MHL S&P Global Inc. GER 110.05B 381.70 0.04 pts
3.38%
22 UU2 BlackRock, Inc. GER 156.11B 1,019.00 0.04 pts
3.35%
23 H68 Rigsave S.P.A. GER 9.41M 3.11 0.03 pts
3.32%
24 DWS DWS Group GmbH & Co. KGaA GER 15.05B 76.40 0.03 pts
3.17%
25 DWD Morgan Stanley GER 287.10B 186.30 0.03 pts
3.10%
26 FO4N ageas SA/NV GER 15.60B 74.50 0.03 pts
3.04%
27 VVV3 Ökoworld AG GER 178.03M 27.20 0.03 pts
3.03%
28 MPCK MPC Münchmeyer Petersen Capital AG GER 188.93M 5.46 0.03 pts
3.02%
29 M3B0 Pyramid AG GER 8.22M 1.40 0.03 pts
2.94%
30 DB1 Deutsche Börse AG GER 51.72B 291.20 0.03 pts
2.93%
31 B7E Blue Cap AG GER 74.25M 16.40 0.03 pts
2.82%
32 ALV Allianz SE GER 171.59B 453.00 0.03 pts
2.77%
33 H1W Klarna Group PLC R GER 4.59B 12.66 0.03 pts
2.76%
34 SVE Shareholder Value Beteiligungen AG GER 50.78M 75.00 0.03 pts
2.74%
35 HNR1 Hannover Rück SE GER 30.80B 257.40 0.03 pts
2.63%
36 ASG Assicurazioni Generali S.p.A. GER 66.29B 44.13 0.03 pts
2.60%
37 IPOK Heidelberger Beteiligungsholding AG GER 33.54M 126.00 0.03 pts
2.44%
38 NAQ Nasdaq, Inc. GER 47.46B 86.20 0.03 pts
2.38%
39 RAW Raiffeisen Bank International AG GER 20.54B 62.45 0.02 pts
2.29%
40 TRVC Citigroup Inc. GER 191.50B 114.60 0.02 pts
2.18%
41 INN1 ING Groep N.V. GER 87.15B 30.45 0.02 pts
2.10%
42 BRYN Berkshire Hathaway Inc. GER 927.46B 435.30 0.02 pts
2.04%
43 CRIN UniCredit S.p.A. GER 127.86B 84.36 0.02 pts
2.01%
44 CMC JPMorgan Chase & Co. GER 812.47B 308.70 0.02 pts
2.00%
45 SRAG Samara Asset Group plc GER 200.98M 2.20 0.02 pts
1.85%
46 UN9 UNIQA Insurance Group AG GER 5.46B 17.74 0.02 pts
1.49%
47 ZFIN Zurich Insurance Group AG N GER 95.24B 634.20 0.02 pts
1.47%
48 BSD2 Banco Santander, S.A. GER 185.26B 12.73 0.02 pts
1.43%
49 QB7 Quirin Privatbank AG GER 138.05M 3.14 0.01 pts
1.29%
50 SDRC SCOR SE GER 5.98B 33.82 0.01 pts
1.26%
51 EBO Erste Group Bank AG GER 48.75B 123.00 0.01 pts
1.23%
52 BCY Barclays PLC GER 78.36B 5.81 0.01 pts
1.01%
53 WUW Wüstenrot & Württembergische AG GER 1.32B 14.32 0.01 pts
0.99%
54 PNP The PNC Financial Services Group, Inc. GER 84.58B 210.00 0.01 pts
0.96%
55 JDC JDC Group AG GER 286.65M 21.20 0.01 pts
0.95%
56 DBAN Deutsche Beteiligungs AG GER 373.84M 21.30 0.01 pts
0.95%
57 BOY Banco Bilbao Vizcaya Argentaria, S.A. GER 137.74B 25.04 0.01 pts
0.85%
58 LS4C London Stock Exchange GroupPLCR GER 49.20B 104.95 0.01 pts
0.77%
59 HBC1 HSBC Holdings plc GER 305.20B 17.90 0.01 pts
0.77%
60 BBK Truist Financial Corporation GER 53.15B 43.40 0.01 pts
0.71%
61 ANI Amundi S.A. GER 19.00B 94.85 0.01 pts
0.69%
62 FRS FORIS AG GER 13.61M 3.04 0.01 pts
0.66%
63 MUV2 Münchener Rückversicherungs-Gesellschaft Aktiengesellschaft in München GER 64.90B 518.00 0.00 pts
0.31%
64 UBK UmweltBank AG GER 158.54M 3.86 0.00 pts
0.26%
65 Z29 029 Group SE GER 208.00M 41.60 0.00 pts
0.00%
66 D77 DN Group AG GER 251.11M 5.70 0.00 pts
0.00%
67 O4B OVB Holding AG GER 273.63M 19.40 0.00 pts
0.00%
68 PZS Scherzer & Co. AG GER 70.57M 2.64 0.00 pts
0.00%
69 AEC1 American Express Company GER 195.30B 288.20 0.00 pts
0.00%
70 IES Intesa Sanpaolo S.p.A. GER 119.90B 6.77 0.00 pts
-0.01%
71 AXA AXA SA GER 91.37B 43.65 0.00 pts
-0.11%
72 ADE Bitcoin Group SE GER 135.10M 27.78 0.00 pts
-0.22%
73 BWB Baader Bank Aktiengesellschaft GER 325.97M 6.68 0.00 pts
-0.30%
74 RYSD NatWest Group plc GER 64.15B 7.94 0.00 pts
-0.40%
75 PRU PRUDENTIAL PLC R GER 30.18B 11.94 -0.01 pts
-0.58%
76 M44 MARA Holdings, Inc. GER 3.74B 9.49 -0.01 pts
-0.70%
77 NCB Bank of America Corporation GER 373.55B 52.83 -0.01 pts
-0.73%
78 LLD Lloyds Banking Group plc GER 75.63B 1.29 -0.01 pts
-0.85%
79 XTP Sino AG GER 247.78M 104.50 -0.01 pts
-0.95%
80 SB1 Smartbroker Holding AG GER 141.97M 8.30 -0.01 pts
-1.19%
81 A7A Heliad AG GER 127.97M 14.15 -0.01 pts
-1.39%
82 NBG6 NÜRNBERGER Beteiligungs-AG GER 1.44B 123.00 -0.02 pts
-1.60%
83 BDSB Banco de Sabadell, S.A. GER 17.13B 3.62 -0.02 pts
-1.77%
84 MBK Merkur PrivatBank KgaA GER 100.35M 12.40 -0.02 pts
-2.36%
85 NF4 Netfonds AG GER 187.56M 80.50 -0.03 pts
-2.42%
86 PGH SGT German Private Equity GmbH & Co. KGaA GER 2.34M 0.20 -0.03 pts
-2.44%
87 ALG ALBIS Leasing AG GER 66.13M 3.12 -0.03 pts
-2.50%
88 MULT Multitude AG GER 123.76M 5.88 -0.03 pts
-2.65%
89 MWB0 mwb fairtrade Wphdlsbank AG N GER 77.43M 10.50 -0.03 pts
-2.78%
90 DFTK DF Deutsche Forfait AG GER 15.81M 1.34 -0.03 pts
-2.91%
91 XCA Crédit Agricole S.A. GER 57.41B 18.44 -0.04 pts
-3.35%
92 MUX Mutares SE & Co. KGaA GER 559.87M 25.85 -0.04 pts
-3.54%
93 N4G0 The NAGA Group AG GER 71.70M 2.99 -0.04 pts
-4.17%
94 BNP BNP Paribas SA GER 115.89B 102.46 -0.05 pts
-4.76%
95 SGE Société Générale Société anonyme GER 54.62B 72.33 -0.05 pts
-5.03%

The index uses capped equal-weight weekly constituent returns. The ledger shows uncapped security returns so outliers remain visible for research.

Evidence context