Sector dispersion
How far apart the ten sector funds' moves are today.
Formula
Dispersion = standard deviation of the ten sector funds' % changes today
How to read it
Low dispersion — sectors moving together — means one macro story is driving everything. High dispersion means rotation: money moving between sectors rather than into or out of stocks.
How to use it
On a flat index day, high dispersion says something is happening underneath; the sector board shows where.
Limitations
Ten numbers on one day, so one sector's outsized move dominates it. Real estate is not one of the ten.
In Kereon
Market · Pulse. The population standard deviation of the sectors ranked on the rotation board, in percentage points; needs three or more of them.
Also called: dispersion.