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CFA L1R53

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Created by:

gzhang5  on April 6, 2010

Subjects:

Equity and Fixed Income

Description:

CFA L1R53: Security-Market Indexes

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CFA L1R53

Price-Weighted Index
sum of stock prices / number of stocks in the index adjusted for splits. E.g. DJIA
1/3
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Definitions

Price-Weighted Index sum of stock prices / number of stocks in the index adjusted for splits. E.g. DJIA
Value-Weighted Index sum(P_t Q_t) / sum (P_b Q_b) * beginning index value. (Note there's auto-adjustment for splits.)
Unweighted Index The arithmetic or geometric mean of the percent changes in price for the stocks in the index.

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