The weight of trend, participation and relative evidence favours capital protection over new exposure.
34
technical evidence
out of 100
out of 100
Biotechnology
For the week ending 09 October 2026, Biotechnology declined 2.24% with 191 advancing, 321 declining, and 9 unchanged constituents.
- Index level
- 345.76 Index points · base 1,000
- Weekly return
- -2.24%
- Measured companies
- 521 522 in the index universe
- Weekly breadth
- 191 up / 321 down 9 unchanged
- Weekly peer rank
- 10 of 11
Universe NASDAQ, NYSE · Equity onlyPrice basis Adjusted weekly closeConstruction Capped equal-weight returns · Weekly rebuild
Explore Healthcare →
156 completed weeks
Biotechnology price and trend
Current architecture
Downward Expansion
1 completed week in this state
Trend acceptance
-12.0%
Index versus Trend Line
Persistence
100%
Negative across every horizon
Participation
37%
191 advancing, 321 declining
Index Value
Trend Line
Fair Value
Activity Lines
Constructive Transition Defensive
Weekly index closes and the Trend Line. Dashed grey shows the latest Fair Value reference; it is not a historical forecast. Enable the other overlays for more detail.
Investor positioning lens
Is the evidence ready for capital?
A rules-based technical classification using trend, breadth, persistence, relative strength and path quality.
Evidence balance
Defensive
Five-pillar map
Trend
26
Breadth
38
Persistence
35
Relative
18
Risk quality
70
What supports the view
- No major confirming factor has secured control.
What restrains conviction
- Index trend architecture has not delivered a durable upward expansion.
- Breadth remains too narrow or inconsistent for a high-conviction position.
- Constituent persistence remains divided or predominantly negative.
- The group is not yet delivering dependable relative outperformance.
- Stage 4 declining constituents exceed Stage 2 advancing constituents by 44 percentage points.
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.
The activity fan is bearishly ordered below the Trend Line with price accepted beneath it.
State age1 weeks
Trend gateDown
Fan width9.08%
Fast versus slow change-7.02 pts
Above 17%
Below 83%
Six completed weeks of price acceptance relative to the full Activity Line fan.
Index persistence
100% agreement
Negative across every horizon
The 13, 26, 39 and 52-week trends all point downward, confirming persistent contraction.
13-week
-17.4%
26-week
-11.0%
39-week
-13.9%
52-week
-11.3%
Constituent trend persistence
93% coverage
Is the index move broadly durable?
42%positive
Coherent positive13%
Coherent negative37%
Average horizon agreement80%
Positive horizon share36%
Weakening positives120
Repairing negatives32
485 constituents measured as of 2 Oct 2026. Median trend age is 30 weeks.
Custom stage map
92% coverage
Where constituents sit in the cycle
61%Stage 4
Stage 1 · Basing11%51 securities
Stage 2 · Advancing17%81 securities
Stage 3 · Distribution12%55 securities
Stage 4 · Declining61%290 securities
Re-acceleration watch2
Transition watch38
Relative strength leaders9%
Fair Value repairs34
Measured as of 9 Oct 2026. Stages summarize price, Activity Line architecture, Fair Value position and relative evidence.
Architecture breadth
78/100 mean confidence
How market energy is distributed
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 Healthcare
Relative index
13-week relative trend
Starting level
The relative index starts at 100. Above 100 means this group has outperformed Healthcare since the first plotted date; below 100 means it has lagged. A rising line can show relative improvement even when both markets are falling.
Relative index93.0
13-week trend96.7
4-week trend change-1.64%
Weekly peer rank10 of 11
1 week
-0.8 pts
relative
4 weeks
-4.1 pts
relative
13 weeks
-6.1 pts
relative
26 weeks
-8.6 pts
relative
52 weeks
-3.2 pts
relative
Market internals
Participation, dispersion and path risk
Equal-weight index evidence with constituent-level breadth and dispersion.
Breadth
Narrow
Participation quality
37%
advanced
- Advancing
- 191
- Declining
- 321
- Unchanged
- 9
Risk and persistence
52-week lens
Path quality
Annualised weekly volatility25.4%
Drawdown from 52-week high-17.9%
Positive weeks, last 1331%
Current directional run5 weeks
Turnover versus 13-week norm113%
Breadth impulse-3.1 pts
Cross-section
521 measured
Return distribution
176Below −5%34%
116−5% to −1%22%
65−1% to +1%12%
91+1% to +5%17%
73Above +5%14%
Weekly returns across measured companies. Bars are scaled to the largest group; percentages show each group’s share.
Q1 -7.0%
Median -2.2%
Q3 2.2%
Average winner6.4%
Average loser-7.4%
Dispersion10.4 pts
Top-five upside share20%
Top-five capital share29%
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 price change
Index price change over 30 weeks, or the available history if shorter. Green above zero; red below.
Breadth cycle
Net participation
Advancers less decliners as a percentage of measured constituents.
Within the same sector
Where are returns broadly supported?
Compare the weekly result with the share of companies advancing.
↑ Companies advancing · 50% marks half of measured companies
−5.6%Weekly index return · zero at centre+5.6%
Compare return with participationHover or focus a marker for the full reading. Select it to open the report.
Markers show weekly return rank. Hover or focus for the name. Fine lines connect separated markers to their actual positions. Up, down and unchanged companies all count in participation.
| Rank / Industry | Weekly return | Advancing share | Up / down | Companies | Week ending |
|---|---|---|---|---|---|
| 1Healthcare PlansHealthcare | 4.97% | 82% | 9 / 2 | 11 | 9 Oct 2026 |
| 2Medical Care FacilitiesHealthcare | 0.77% | 62% | 26 / 15 | 42 | 9 Oct 2026 |
| 3Health Information ServicesHealthcare | 0.76% | 62% | 24 / 14 | 39 | 9 Oct 2026 |
| 4Drug Manufacturers - Specialty & GenericHealthcare | 0.65% | 53% | 38 / 33 | 72 | 9 Oct 2026 |
| 5Medical DistributionHealthcare | -0.69% | 56% | 5 / 4 | 9 | 9 Oct 2026 |
| 6Medical DevicesHealthcare | -1.04% | 44% | 52 / 63 | 118 | 9 Oct 2026 |
| 7Drug Manufacturers - GeneralHealthcare | -1.09% | 75% | 15 / 5 | 20 | 9 Oct 2026 |
| 8Medical Instruments & SuppliesHealthcare | -1.21% | 49% | 24 / 23 | 49 | 9 Oct 2026 |
| 9Diagnostics & ResearchHealthcare | -1.91% | 43% | 19 / 25 | 44 | 9 Oct 2026 |
| 10BiotechnologyHealthcare | -2.24% | 37% | 191 / 321 | 521 | 9 Oct 2026 |
| 11Pharmaceutical RetailersHealthcare | -5.58% | 0% | 0 / 3 | 3 | 9 Oct 2026 |
United States · Weekly return relationships
Which markets move together?
Compare sectors and industries within United States over the same 52-week window. Strong positive relationships can mean that apparently different holdings share the same risk.
Closest: Industrials and Consumer Cyclical (0.86; 52 weeks).
12 indexes · 66 qualifying pairsClosest: Gold and Other Precious Metals & Mining (0.95; 52 weeks).
143 indexes · 10153 qualifying pairs−1 · Opposite0 · No linear link+1 · Together
Read the market at the top against the market at the left. The diagonal compares each index with itself. Up to 10 indexes are shown, ordered by constituent coverage. Select a cell to inspect a pair, or use the selectors for other markets.
Closest to the reference
Pearson correlation of weekly percentage returns through 9 Oct 2026: +1 means moving together, 0 little linear relationship, −1 moving in opposite directions. Requires 39 matching observations for the 52-week comparison and 10 for the recent 13 weeks. Missing weeks are excluded, not filled with zero. Constant series have no defined correlation. These are local-currency, capped equal-weight indexes; sectors and their component industries overlap. A lower correlation does not establish a hedge.
Sector correlations compare broad business groups. Industry correlations reveal closer links within and across sectors. The selectors retain all qualified groups; the matrix shows the ten largest by company coverage.
News and narrative
Does company news confirm the market tape?
Sentiment evidence is still developing
Qualified company-level news coverage is not yet broad enough to influence the group view.
24 qualified records across 521 measured constituents.Leadership tape
Leaders, laggards and contribution shape
Latest completed week, ranked on uncapped constituent returns.
Constituent ledger
Industry constituents
All 521 measured constituents, ranked by latest weekly return.
Rank
Ticker
Company
Exchange
Market cap
Close
Index contribution
Return
505
RADX
Radiopharm Theranostics Limited American Depositary Shares
NASDAQ
16.40M
1.13
-0.04 pts
-20.42%
The index uses capped equal-weight weekly constituent returns. The ledger shows uncapped security returns so outliers remain visible for research.