Although the main index of the Tehran Stock Exchange (TSE) saw a considerable surge in 2017, the market's unweighted index
suggests that the companies with the largest capitalization were behind the upward trend.
1 per cent, while the Kuwait Stock Exchange Unweighted Index
6 per cent and the Kuwait Stock Exchange Unweighted Index
In theory, such products should provide the least direct exposure to the hedging powers of commodity prices, because stocks are influenced so heavily by moves in the general market but, in fact, an unweighted index
of returns of the group has closely tracked the GSCI, with correlation of 0.
This observation, coupled with our concern about degrees of freedom, leads us to use the simple unweighted index
of RS in the rest of the article.
Part of the reason for this seems to be that, within each class of goods, products with relatively low market shares tend to show faster price declines than products with higher market shares, giving these price declines a larger role in an unweighted index
than in a weighted index.
Moreover, the unweighted index
continued to show the breakpoints evident in the official CUBO series when subjected to formal statistical tests.
An unweighted index
assigns a level (and associated dollar amount) based on a simple count of the minimum data set (MDS) items.
This investment methodology will often trail the S&P 500 for a given year or two, and then surpass it, because the S&P 500 Index is weighted by the size of the market capitalization of each stock, while the CE100 Index is an unweighted index
(which means you buy equal dollar amounts in each company).
The average market cap of the unweighted index
is more than $40 billion.
Qatar's QE Index and the Kuwait Stock Exchange Unweighted Index
The Kuwait Stock Exchange Unweighted Index
and Saudi Arabia's Tadawul All Share Index slipped 0.