Palladium vs the S&P 500 (PALL): is it outperforming?
Over the past month, PALL has underperformed the S&P 500 by 3.4 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 2026-07-13 · computed from daily adjusted closes · how we measure
The read
Palladium (PALL) is out of favor: it trails the S&P 500 on both rotation windows — 3.4 points behind over the past month and 27.1 points behind over the longer, time-shifted window. That is the lagging quadrant. Ranked by one-month spread, it currently stands #74 of the 115 groups Zensei tracks.
On the shorter tape, PALL is in a dip window: the last sessions have pulled back while the longer intraday trend remains intact — the pattern rotation traders watch for re-entries. PALL's relative-strength line — its price ratio against the S&P 500 — is trading above its moving averages, the healthiest configuration we track. The two signals agree — the short-term tape and the longer trend point the same way.
The thing to watch from here is the one-month spread: laggards only become interesting when the recent window turns positive first — until then, the market is voting elsewhere.
Palladium vs the market — common questions
Is palladium outperforming the S&P 500?
Right now, no: over the past month PALL has underperformed the S&P 500 by 3.4 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 lagging quadrant — trailing the S&P 500 on both windows. 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.