GFD Adds Series on Market Concentration
Bryan Taylor and Michelle Kangas, Global Financial Data
Global Financial Data (GFD) has added 39 new indices to its GFD Indices to enable subscribers to study how the concentration of the United States and United Kingdom stock markets has changed over time. A full list of these new files is provided below.
GFD has data on all of the stocks traded on exchanges in the United States between 1784 and 2024 as well as thousands of over-the-counter stocks. GFD also has data on thousands of companies traded in London between 1690 and 2023. These data collections include all of the major stocks that listed in both the United States and the United Kingdom. GFD has conducted large-number analysis of this data to understand how the concentration of the stock markets has changed over time.
Since 2014, the concentration of capitalization in the United States in a small number of companies has increased. Whether you are talking about the FANG stocks or the Magnificent Seven, the Top 10 stocks have doubled their share of US stock market capitalization from 13% of total stock market capitalization in 2013 to 26% in 2023. This raises the question of how the concentration of the stock market has changed in the past.
Figure 1. Top 10 Stocks as a Percentage of the Top 500 Stocks, 1875 to 2024
To answer this question, GFD has added data on both the stock market capitalization and the percentage of total market capitalization for the Largest, 5 Largest, 10 Largest, 25 Largest, 50 Largest, 100 Largest and 500 Largest stocks in the United States and in the United Kingdom. Figure 1 illustrates the results showing changes in the concentration in the 10 Largest stocks as a share of the Top 500 stocks in the United States between 1875 and 2024. As can be seen, concentration generally declined between 1875 and 1925, rose between 1925 and 1964, declined to 1993, rose then fell between 1993 and 2014, and has risen since then.
These new data series will provide useful information to anyone who wants to have a better understanding of the trends in the United States or British stock markets. If you have any questions about these series, or you would like to add them to your subscription by subscribing to the GFD Indices, please feel free to contact us.
|
Filename |
Description |
Starts |
|
GFUSATOP1MC |
GFD Indices United States Top Company Market Cap |
1791 |
|
GFUSATOP5MC |
GFD Indices United States Top 5 Companies Market Cap |
1791 |
|
GFUSATOP10MC |
GFD Indices United States Top 10 Companies Market Cap |
1791 |
|
GFUSATOP25MC |
GFD Indices United States Top 25 Companies Market Cap |
1791 |
|
GFUSATOP50MC |
GFD Indices United States Top 50 Companies Market Cap |
1791 |
|
GFUSATOP100MC |
GFD Indices United States Top 100 Companies Market Cap |
1791 |
|
GFUSATOP500MC |
GFD Indices United States Top 500 Companies Market Cap |
1791 |
|
GFUSATOP1000MC |
GFD Indices United States Top 1000 Companies Market Cap |
1791 |
|
GFUSAALLMC |
GFD Indices United States All Companies Market Cap |
1791 |
|
GFUSATOP1PC |
GFD Indices United States Top Company Market Cap as PC of Total |
1791 |
|
GFUSATOP5PC |
GFD Indices United States Top 5 Companies Market Cap as PC of Total |
1792 |
|
GFUSATOP10PC |
GFD Indices United States Top 10 Companies Market Cap as PC of Total |
1799 |
|
GFUSATOP25PC |
GFD Indices United States Top 25 Companies Market Cap as PC of Total |
1802 |
|
GFUSATOP50PC |
GFD Indices United States Top 50 Companies Market Cap as PC of Total |
1807 |
|
GFUSATOP100PC |
GFD Indices United States Top 100 Companies Market Cap as PC of Total |
1823 |
|
GFUSATOP500PC |
GFD Indices United States Top 500 Companies Market Cap as PC of Total |
1875 |
|
GFUSATOP5500PC |
GFD Indices United States Top 5 Companies Market Cap as PC of Top 500 |
1875 |
|
GFUSATOP10500PC |
GFD Indices United States Top 10 Companies Market Cap as PC of Top 500 |
1875 |
|
GFUSACOUNT |
GFD Indices United States Database Stock Count |
1791 |
|
GFGBRTOP1MC |
GFD Indices Great Britain Top Company Market Cap |
1689 |
|
GFGBRTOP5MC |
GFD Indices Great Britain Top 5 Companies Market Cap |
1689 |
|
GFGBRTOP10MC |
GFD Indices Great Britain Top 10 Companies Market Cap |
1689 |
|
GFGBRTOP25MC |
GFD Indices Great Britain Top 25 Companies Market Cap |
1689 |
|
GFGBRTOP50MC |
GFD Indices Great Britain Top 50 Companies Market Cap |
1689 |
|
GFGBRTOP100MC |
GFD Indices Great Britain Top 100 Companies Market Cap |
1689 |
|
GFGBRMID250MC |
GFD Indices Great Britain Mid 250 Companies Market Cap |
1864 |
|
GFGBRTOP350MC |
GFD Indices Great Britain Top 350 Companies Market Cap |
1689 |
|
GFGBRTTLMC |
GFD Indices Great Britain All Companies Market Cap |
1689 |
|
GFGBRTOP1PC |
GFD Indices Great Britain Top Company Market Cap as PC of Total |
1689 |
|
GFGBRTOP5PC |
GFD Indices Great Britain Top 5 Companies Market Cap as PC of Total |
1691 |
|
GFGBRTOP10PC |
GFD Indices Great Britain Top 10 Companies Market Cap as PC of Total |
1805 |
|
GFGBRTOP25PC |
GFD Indices Great Britain Top 25 Companies Market Cap as PC of Total |
1806 |
|
GFGBRTOP50PC |
GFD Indices Great Britain Top 50 Companies Market Cap as PC of Total |
1810 |
|
GFGBRTOP100PC |
GFD Indices Great Britain Top 100 Companies Market Cap as PC of Total |
1817 |
|
GFGBRMID250PC |
GFD Indices Great Britain Mid 250 Companies Market Cap as PC of Total |
1864 |
|
GFGBRTOP350PC |
GFD Indices Great Britain Top 350 Companies Market Cap as PC of Total |
1864 |
|
GFGBRTOP5100PC |
GFD Indices Great Britain Top 5 Companies Market Cap as PC of Total |
1806 |
|
GFGBRTOP10100PC |
GFD Indices Great Britain Top 10 Companies Market Cap as PC of Total |
1806 |
|
GFGBRCOUNT |
GFD Indices Great Britain Database Stock Count |
1689 |
