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subindex

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Subindex
A group of securities that is part of an index but is also tracked separately as a smaller, separate index.

Notes:
A software index, for example, would be a sub-index of a computer index.

subindex
An index based on a particular category of components that make up a larger index. For example, the Nasdaq Composite Index is subdivided into 11 subindexes for categories including banks, computers, industrials, insurance, and telecommunications. Subindexes provide an indication of how particular segments of the market are performing.
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