The Power Index ranks five major capital buckets for the March 27 edition using the live week-to-date window from Monday’s close to Thursday’s close (Mar 23 → Mar 26). U.S. Equities are proxied by SPY, Treasuries by IEF, Commodities by DBC, Gold by GLD, and Bitcoin by BTC spot, all in USD.
Commodities took first with the clearest upside in the table. Gold finished second, but well behind the leader. Bitcoin stayed last, and the ranking shows separation at both ends rather than one uniform move.
Ranked: The Separation
The table did not move as one block.
It split.
Commodities finished first, up about +3.0% in the four-session window. Gold came second at roughly +1.2%. Treasuries slipped about -0.2%. U.S. equities were down about -0.5%. Bitcoin finished last at roughly -2.1%.
The top rank did not just win. It created distance.
The gap between first and second was about 1.8 percentage points. The gap between first and fifth was just over 5 points.
That is the first structural fact.
Leadership was not crowded.
It was concentrated in one bucket.
Then look at the bottom.
Bitcoin stayed fifth and trailed Gold by more than 3 points in the same window. It also sat more than 5 points behind Commodities.
Last place was not close. It was clear.
Now the middle of the table.
Gold held second. Treasuries held third. But the spread between them was only about 1.4 points, much smaller than the distance from Commodities to the rest.
So this was not a full-table reshuffle.
It was one leader breaking away while the rest stayed tighter.
Inside equities, SPY fell about -0.5% while equal-weight equities rose about +0.6%. That is roughly a 1-point spread between the headline index and the average stock.
The index ranked fourth, but the average stock held up better than that rank suggests.
So the structure gives you three clean reads:
• First place separated hard
• Fifth place stayed clearly rejected
• The middle of the table stayed tighter than the ends
That is the signal.
A hierarchy with one strong winner, one clear laggard, and no broad confirmation in between.