Sector rotation, measured — not guessed.

Money doesn't leave the market, it moves. Rotation is that movement — and the cleanest way to see it is to rank every market on the same scale, every day.

One scale for every market

The dashboard computes the 100-day MQN for all 160 tracked instruments — US sectors, factors, regions, commodities, rates, crypto proxies — and ranks them cross-sectionally. A sector near the top has delivered strong, consistent outperformance over the last 100 sessions; a sector at the bottom is in a persistent downtrend. Because every market is scored with the same formula, the ranking is comparable across asset classes and across time.

How to read rotation

• Leadership confirms regimes. Healthy risk-on regimes are usually led by offensive groups; defensive leadership inside a bullish tape is a classic warning.
• Rotation precedes the index. Indexes are averages — leadership often turns before the headline number does, which is why the breadth read matters alongside it.
• Laggards are information too. What is being sold tells you what the market is pricing — rate-sensitive groups rolling over say something different from energy rolling over.

Today's rotation

The full top/bottom board, both universes, lives on the Market Leadership page.