March 13, 2026 | Power Index

The Power Index ranks five major capital buckets by relative performance for the short window ending March 13, 2026 (Wed close → Thu close). U.S. Equities are proxied by SPY, Treasuries by IEF, Commodities by DBC, Gold by GLD, and Bitcoin by BTC spot close.

The ranking table stayed centered on hard assets. Commodities held first as oil surged and energy remained the dominant market signal. Gold stayed near the top as defensive demand remained intact. Treasuries improved their relative standing as equities weakened further under the pressure of higher energy costs and firmer yields. U.S. Equities stayed in the lower half of the table, while Bitcoin remained last again.

Commodities remain #1. The commodity bucket held the top position as oil stayed near the center of market attention. Energy strength continued to dominate the cross-asset picture and kept commodities in control of the table for another window.

Gold holds #2. Gold stayed in an upper position as stress conditions remained unresolved. Defensive participation did not overtake the commodity complex, but it remained firm enough to preserve second place.

Treasuries rise to #3. The bond bucket improved in relative standing as broader risk appetite weakened. This was not a move into leadership, but it was enough to keep Treasuries ahead of equities in a more defensive structure.

U.S. Equities remain #4. Equities stayed under the more defensive buckets. The market did not show enough broad participation to move stocks higher in the table, and the pressure from energy and rates kept relative strength limited.

Bitcoin remains #5. The crypto bucket again failed to improve rank. Speculative participation stayed weak relative to every other major capital bucket in the index universe.

The balance of power remained tilted toward protection and inflation sensitivity rather than broad risk participation. The table did not rotate back toward equities. Instead, it stayed organized around oil, defense, and selective capital preservation.

Commodities remain #1 — energy strength continues to lead the table.
Gold remains #2 — defensive demand stays near the top.
Treasuries rise to #3 — stability improves relative standing.
U.S. Equities remain #4 — broad risk participation is still limited.
Bitcoin remains #5 — speculative capital continues to rank last.

The structure did not reset. Commodity leadership remained intact, gold stayed firm, and Treasuries improved relative position as equities failed to regain momentum. The broader hierarchy still looks defensive, with Bitcoin disconnected from the leading groups.