Cloud Computing vs the S&P 500 (SKYY): is it outperforming?
Over the past month, SKYY has outperformed the S&P 500 by 18.3 points. Here is where that puts it in the sector rotation — updated daily.
Where SKYY sits on the rotation map
Cloud Computing 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.
SKYY vs SPY: head-to-head returns
SKYY (cloud computing) and SPY (the S&P 500) side by side over every window Zensei tracks. The spread is the difference — positive means SKYY won that window.
Data as of 2026-08-27 · computed from daily adjusted closes · how we measure
The read
Cloud Computing (SKYY) sits in the Outperformers quadrant of the rotation map: it has decisively beaten the S&P 500 by 18.3 points over the past month, on top of a 2.4-point advantage over the longer, time-shifted window. Ranked by one-month spread, it currently stands #5 of the 115 groups Zensei tracks — inside the top tier of the market.
On the shorter tape, SKYY's momentum is weakening: the intraday trend that carried the move is cooling across the shorter windows. SKYY's relative-strength line — its price ratio against the S&P 500 — is trading above its moving averages, the healthiest configuration we track. The longer trend remains healthier than the recent tape suggests — the kind of divergence worth rechecking in a week.
The exposure comes via First Trust Cloud Computing ETF, whose 63 tracked holdings are led by EVERPURE INC CLASS A, NUTANIX INC CLASS A and ARISTA NETWORKS INC. Weighted by portfolio, the fund's holdings trade at roughly 98.4× earnings and 9.3× sales. The thing to watch from here is durability: outperformers that hold their one-month spread while the longer window keeps building tend to stay out front; a fading spread is the early exit signal.
What's inside SKYY
Top 5 of 63 tracked holdings, by portfolio weight.
Cloud Computing vs the market — common questions
Is cloud computing outperforming the S&P 500?
Right now, yes: over the past month SKYY has outperformed the S&P 500 by 18.3 points. This page updates daily, so the answer reflects current market data rather than a dated article.
What is SKYY?
SKYY is First Trust Cloud Computing ETF, the fund Zensei uses to measure the cloud computing group against the S&P 500 benchmark (SPY).
Which stocks are in SKYY?
SKYY's largest tracked positions are EVERPURE INC CLASS A, NUTANIX INC CLASS A, ARISTA NETWORKS INC, MONGODB INC CLASS A, MICROSOFT CORP — 63 holdings in total. The full list, with each stock measured against the group, is part of Zensei Premium.
What quadrant is cloud computing in right now?
As of the latest daily data, cloud computing is in the Outperformers quadrant — outperforming the S&P 500 on both the recent and the longer, time-shifted window. The quadrant rules are documented on the Zensei methodology page.
Related sectors
Track cloud computing 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.