How to read sector indexes and rotation

What an industry sector index is, how to read returns and turnover share, what sector rotation means and what to avoid when reading rankings.

Updated：2026-11-14

What a sector index is

TWSE compiles share-price indexes for each industry (for example semiconductors, shipping, financial and insurance), tracking the overall price movement of listed companies in the industry. This site uses price indexes, without dividend reinvestment.

How to read the Sectors page

• Returns: calculated from index closes over 1 week, 1, 3, 6 months and 1 year.
• Share of turnover: the latest trading day's turnover of all listed and OTC common stocks in an industry divided by the total across industries, showing where trading is concentrated.
• Heat map: tile size is share of turnover and colour is the return (red up, green down).

What sector rotation means

The industries with the biggest gains change over time, which is often called sector rotation. This site only shows rankings of past returns and does not predict which sector is next.

Reminders when reading rankings

• A ranking describes the past; it does not predict the future and is not advice about any sector or stock.
• A large short-term gain may come from a few heavyweight stocks; read it together with the sector page's monthly revenue growth and P/E position.
• Rankings often differ across periods, so looking at several periods is more complete than one.

This article only explains terms and calculations; it is not investment advice.