Palladium vs the S&P 500 (PALL): is it outperforming?
Over the past month, PALL has outperformed the S&P 500 by 0.4 points. Here is where that puts it in the market rotation — updated daily.
Where PALL sits on the rotation map
Palladium highlighted against the 11 broad S&P 500 sectors. Vertical: 1-month spread vs the S&P 500. Horizontal: the longer, time-shifted window — the methodology explains the math.
PALL vs SPY: head-to-head returns
PALL (palladium) and SPY (the S&P 500) side by side over every window Zensei tracks. The spread is the difference — positive means PALL won that window.
Data as of 2026-07-23 · computed from daily adjusted closes · how we measure
The read
Palladium (PALL) has just turned the corner. Over the longer, time-shifted window it trailed the S&P 500 by 19.2 points, but over the past month it has moved narrowly ahead of the market — a 0.4-point edge that puts it in the improving quadrant. Ranked by one-month spread, it currently stands #67 of the 115 groups Zensei tracks.
On the shorter tape, PALL's momentum is mixed: the longer intraday trend is still positive, but the recent windows have gone flat. PALL's relative-strength line is holding around its moving averages — the trend is intact but no longer extending. The longer trend remains healthier than the recent tape suggests — the kind of divergence worth rechecking in a week.
The thing to watch from here is confirmation: improving groups that hold a positive one-month spread long enough for the longer window to turn are the classic early-rotation entries — the ones that fail fall back quickly.
Palladium vs the market — common questions
Is palladium outperforming the S&P 500?
Right now, yes: over the past month PALL has outperformed the S&P 500 by 0.4 points. This page updates daily, so the answer reflects current market data rather than a dated article.
What is PALL?
PALL is Aberdeen Standard Physical Palladium Shares ETF, the fund Zensei uses to measure the palladium group against the S&P 500 benchmark (SPY).
What quadrant is palladium in right now?
As of the latest daily data, palladium is in the improving quadrant — behind the market over the longer window, but ahead over the past month. The quadrant rules are documented on the Zensei methodology page.
Related sectors
Track palladium against the whole market
Zensei Edge maps 100+ sectors and themes against the S&P 500 — with the stocks inside each one, rotation history and alerts when leadership changes hands.