Equal Weighted Index

This item creates an equal-weighted index given a basket of assets and a reference date. The close, open, high, low and volume fields of the index or composite are constructed based on the weight of each asset on the reference date.

By default, the reference date is set to the beginning of 2008. At that date, the index has a value of 100. On a subsequent date, the close price (or high, open, low, volume) of each asset is divided by the price on the reference/rebalance date, the results are then averaged and assigned to the equal-weighted index.

How to update the list of assets:

- Open the composite tool by selecting "Tools" then "Composites"
- Select the equally weighted index then click on "Update"
- Select your stocks or securities in the "Symbols Filter" control
- Click on "Next" several times to save the composite settings

How to specify the reference date:

- Update the composite
- Click on "Next" then update the first line of the index formula

Example:
year1 = 2006;

To set 01/01/2006 as the reference date

How to rename your equally weighted index:

- Click on the button next to the search box (Composites Form)
- Double click on your composite then rename it

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