KRE/SPY ratio: the last 12 months

Regional banks relative to the S&P 500 (KRE/SPY) are up 10.5% over 1Y but 40.2% below their high; the 90-day change is −2.5%. They lagged in September's rates shock and gained 5.1% over the last month with financials. No status quo card for this group.

Month by month

Computed in code. Change: the calendar-month change (z against its own monthly history). 90-day: the trailing 90-day change at the month-end. Rank: its place among that month's biggest moves. Causes: the surviving monthly causes acting on it (a force's loading on this asset times the month's fitted strength, in standard deviations). ETF holdings use current weights (an approximation).

Month	Change	90-day	Causes
November 2026 (month to date)	+1.5% (z 0.6)	−2.5%	none of the surviving causes loads on it
October 2026	+4.7% (z 0.8)	−6.1%	none of the surviving causes loads on it
September 2026	−4.8% (z -0.8)	−9.3%	none of the surviving causes loads on it
August 2026	−5.8% (z -1.0)	+5.1%	none of the surviving causes loads on it
July 2026	+1.6% (z 0.2)	+5.4%	none of the surviving causes loads on it
June 2026	+9.3% (z 1.4)	+0.1%	none of the surviving causes loads on it
May 2026	−5.3% (z -0.9)	−6.5%	none of the surviving causes loads on it
April 2026	−3.0% (z -0.5)	−2.0%	none of the surviving causes loads on it
March 2026	+3.2% (z 0.5)	+5.7%	none of the surviving causes loads on it
February 2026	−2.1% (z -0.2)	+5.9%	none of the surviving causes loads on it
January 2026	+4.6% (z 0.7)	+13.4%	none of the surviving causes loads on it
December 2025	+3.5% (z 0.6)	+1.6%	none of the surviving causes loads on it
November 2025	+4.8% (z 0.8)	−8.9%	none of the surviving causes loads on it

What drove each month · All assets

Not investment advice. MarketMoves describes past market data and reported news for general information. Figures can be delayed or wrong; check the original source before relying on them.