Cross-Sector Risk-On Basket
ExpandingTheme thesis
NATL is still early. Treat this as a watchlist setup until more runs confirm it.
Use the confirmer and break level to decide if this setup is still worth your time.
StageBroadening
UpdatedLive
Breadth82%
Setup strength
44
Why it matters
NATL is still early. Treat this as a watchlist setup until more runs confirm it.
What changed
NATL leadership persisted
What to watch
PK is the clearest next confirmation candidate and should tell us whether the move can broaden.
What breaks it
Cross-asset confirmation is still fragile, so spillover can stall before it becomes durable.
Latest Headlines
No symbol-linked headlines found in the current lookback window.
No related headlines found
No recent headlines matched the theme's leader or member tickers in the current lookback window.
Who Is Leading
Breadth
82%
How broad the move is
Leaders
1
Confirmers
0
Lagging
0
Leaders
NATL is the current leadership name for Cross-Sector Risk-On Basket, carrying the highest structural influence in the live cluster.
Confirmers
No live confirmer roster available.
Supporting Names
ARMK is acting as a bridge inside Cross-Sector Risk-On Basket, helping the move transmit beyond the core leadership group.
ASND is acting as a bridge inside Cross-Sector Risk-On Basket, helping the move transmit beyond the core leadership group.
ATR is acting as a bridge inside Cross-Sector Risk-On Basket, helping the move transmit beyond the core leadership group.
BMY is acting as a bridge inside Cross-Sector Risk-On Basket, helping the move transmit beyond the core leadership group.
CDP is acting as a bridge inside Cross-Sector Risk-On Basket, helping the move transmit beyond the core leadership group.
ESS is acting as a bridge inside Cross-Sector Risk-On Basket, helping the move transmit beyond the core leadership group.
FBK is acting as a bridge inside Cross-Sector Risk-On Basket, helping the move transmit beyond the core leadership group.
FRT is acting as a bridge inside Cross-Sector Risk-On Basket, helping the move transmit beyond the core leadership group.
FWONA is acting as a bridge inside Cross-Sector Risk-On Basket, helping the move transmit beyond the core leadership group.
GLPI is acting as a bridge inside Cross-Sector Risk-On Basket, helping the move transmit beyond the core leadership group.
IBP is acting as a bridge inside Cross-Sector Risk-On Basket, helping the move transmit beyond the core leadership group.
What Is Confirming
Confirming Sectors
NATL
88% participation
88%
Watchlist Sectors
ARMK — Participation 64%
ASND — Participation 58%
ATR — Participation 52%
Absent Sectors
BMY — Still absent
CDP — Still absent
ESS — Still absent
Live Names
12 names
Rank
Symbol
Role
Signal
Score
Recent
Note
1
NATL (NATL)
Leader
Live
n/a
n/a
NATL is the current leadership name for Cross-Sector Risk-On Basket, carrying the highest structural influence in the live cluster.
2
ARMK (ARMK)
Participant
Live
n/a
n/a
ARMK is acting as a bridge inside Cross-Sector Risk-On Basket, helping the move transmit beyond the core leadership group.
3
ASND (ASND)
Participant
Live
n/a
n/a
ASND is acting as a bridge inside Cross-Sector Risk-On Basket, helping the move transmit beyond the core leadership group.
4
ATR (ATR)
Participant
Live
n/a
n/a
ATR is acting as a bridge inside Cross-Sector Risk-On Basket, helping the move transmit beyond the core leadership group.
5
BMY (BMY)
Participant
Live
n/a
n/a
BMY is acting as a bridge inside Cross-Sector Risk-On Basket, helping the move transmit beyond the core leadership group.
6
CDP (CDP)
Participant
Live
n/a
n/a
CDP is acting as a bridge inside Cross-Sector Risk-On Basket, helping the move transmit beyond the core leadership group.
7
ESS (ESS)
Participant
Live
n/a
n/a
ESS is acting as a bridge inside Cross-Sector Risk-On Basket, helping the move transmit beyond the core leadership group.
8
FBK (FBK)
Participant
Live
n/a
n/a
FBK is acting as a bridge inside Cross-Sector Risk-On Basket, helping the move transmit beyond the core leadership group.
9
FRT (FRT)
Participant
Live
n/a
n/a
FRT is acting as a bridge inside Cross-Sector Risk-On Basket, helping the move transmit beyond the core leadership group.
10
FWONA (FWONA)
Participant
Live
n/a
n/a
FWONA is acting as a bridge inside Cross-Sector Risk-On Basket, helping the move transmit beyond the core leadership group.
11
GLPI (GLPI)
Participant
Live
n/a
n/a
GLPI is acting as a bridge inside Cross-Sector Risk-On Basket, helping the move transmit beyond the core leadership group.
12
IBP (IBP)
Participant
Live
n/a
n/a
IBP is acting as a bridge inside Cross-Sector Risk-On Basket, helping the move transmit beyond the core leadership group.
Theme Stability
Theme stability
This view is meant to answer a simple question: is the theme holding together, broadening, narrowing, or still changing shape?
First seen2026-05-19
Last seen2026-05-19
Runs1
Days1
ReadForming · 1 day
Label driftNo drift
This theme is still forming. There is only one supporting session, so there is not yet a deep trail to interpret.
No deeper lineage trail is available yet for this theme.
Activation Evidence
Live
First wave leaders
0
Names that moved first.
Second wave confirmers
0
Follow-through names joining after the leader.
Net new members
0
New names added to the move.
Repeat rate
100%
How often the same names keep reappearing.
Confirmer speed
33%
How quickly confirmation showed up.
Path coherence
0%
How clean the activation path looks.
Sequence buildup
34%
Whether the move built in sequence.
Leader to confirmer
n/a
Median lead time from leader to confirmer.