{"slug":"stock-splits-and-the-dow-divisor","qid":"weights","label":"Price weight vs cap weight across a stand-in basket","post_title":"Stock Splits and the Dow Divisor, Explained","post_url":"/blog/stock-splits-and-the-dow-divisor#q-weights","columns":["symbol","share_price","price_weight_pct","cap_weight_pct"],"rows":[{"symbol":"GS","share_price":1001.95,"price_weight_pct":20.85,"cap_weight_pct":2.37},{"symbol":"CAT","share_price":815.39,"price_weight_pct":16.97,"cap_weight_pct":3.05},{"symbol":"MSFT","share_price":481.15,"price_weight_pct":10.01,"cap_weight_pct":29.03},{"symbol":"AMGN","share_price":433.73,"price_weight_pct":9.03,"cap_weight_pct":1.91},{"symbol":"V","share_price":365.73,"price_weight_pct":7.61,"cap_weight_pct":5.55},{"symbol":"HD","share_price":334.49,"price_weight_pct":6.96,"cap_weight_pct":2.71},{"symbol":"AXP","share_price":331.15,"price_weight_pct":6.89,"cap_weight_pct":1.82},{"symbol":"AAPL","share_price":311.3,"price_weight_pct":6.48,"cap_weight_pct":36.91},{"symbol":"MCD","share_price":269.13,"price_weight_pct":5.6,"cap_weight_pct":1.55},{"symbol":"JNJ","share_price":267.37,"price_weight_pct":5.56,"cap_weight_pct":5.24},{"symbol":"WMT","share_price":103.84,"price_weight_pct":2.16,"cap_weight_pct":6.71},{"symbol":"KO","share_price":90.5,"price_weight_pct":1.88,"cap_weight_pct":3.16}],"shape":"ranking","sql":"WITH members AS\n(\n    SELECT\n        ticker,\n        argMax(toFloat64(price), date)      AS last_price,\n        argMax(toFloat64(market_cap), date) AS last_cap\n    FROM global_markets.stocks_ratios\n    WHERE ticker IN ('AAPL','AMGN','AXP','CAT','GS','HD','JNJ','KO','MCD','MSFT','V','WMT')\n      AND date >= today() - 45\n      AND price > 0\n      AND market_cap > 0\n    GROUP BY ticker\n),\ntotals AS\n(\n    SELECT\n        sum(last_price) AS price_sum,\n        sum(last_cap)   AS cap_sum\n    FROM members\n)\nSELECT\n    m.ticker                                    AS symbol,\n    round(m.last_price, 2)                      AS share_price,\n    round(100 * m.last_price / t.price_sum, 2)  AS price_weight_pct,\n    round(100 * m.last_cap / t.cap_sum, 2)      AS cap_weight_pct\nFROM members AS m\nCROSS JOIN totals AS t\nORDER BY price_weight_pct DESC","computed_at":"2026-08-22T04:22:20.446178+00:00","elapsed":0.034863307}