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How concentrated is your portfolio, really?

Most people who are over-concentrated never decided to be — it happened one buy at a time. Paste your holdings below and see the shape of the book in one screen: the largest position, the top three, and how many equal positions it actually behaves like.

paste your holdingsruns in your browser
01how to read it
Concentrated
largest ≥ 40%, or behaves like fewer than 5

One decision drives the outcome. Fine if it is the decision you meant to make.

Balanced
between the two

No single position dominates, and the book still has names that can move it.

Spread
behaves like 20 or more

Broad by construction. Nothing will hurt much — and nothing will help much either.

These cut-offs are conventions this page states plainly, not findings. They exist so the result reads as a sentence instead of a number.

02what it does not measure

Concentration is one property of a portfolio, and it is the only one you can read without price history. The X-Ray does not know your volatility, your drawdown, your correlation to the market, or what your positions are worth today — it uses the prices in the rows you pasted. Two portfolios with identical weights can behave completely differently, and this page will not tell them apart. That part needs the full series, which is what the terminal does after an import.

Import it and see the restor look at a sample portfolio first →
03questions
Do I need an account to use the Portfolio X-Ray?

No. Paste your holdings and the result appears immediately. The whole calculation runs in your browser — nothing is sent to a server, and nothing is stored.

What does "behaves like 6.4 equal positions" mean?

It is the inverse of the Herfindahl index, the sum of your squared position weights. A portfolio of ten equal positions behaves like ten. If one of those ten is half the money, it behaves like about three. It tells you how much your weights differ from an even split.

Does the X-Ray use live prices?

No. It uses the quantity and price in the rows you paste, so the weights are based on what you entered rather than on today's market value. For live weights, risk and drawdown, import the portfolio into the terminal instead.

Is a concentrated portfolio a bad portfolio?

Not by itself. Concentration is a choice, and plenty of good long-term results come from it. The X-Ray only makes the choice visible, because most people who are concentrated did not decide to be — it happened one buy at a time.

What format should I paste?

A CSV with symbol, quantity and price columns works best, and a plain copy-paste from a broker statement usually parses too. The same parser powers the product's import flow.

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