Variance Among U.S. Equity Indexes

Israelsen, Craig L.
June 2005
Journal of Financial Planning;Jun2005, Vol. 18 Issue 6, p62
Academic Journal
• Measuring equity market performance is problematic as prominent equity indexes often report returns that are substantially different from peer indexes. • Performance variance among peer equity indexes may present an opportunity for "benchmark index shopping" to occur. • Performance variance among equity indexes is more pronounced among mid- and small-cap equity indexes and among growth equity indexes. • Where there is sizable performance variance among peer equity indexes, it is advisable to calculate the average performance of the indexes as a group, rather than selecting the performance of one index for "bench-marking" purposes. This is particularly relevant in the mid- and small-cap sectors, as well as the large-cap growth category. INSET: Executive Summary.


Related Articles

  • WINNERS & LOSERS. Carmona, José L. // Caribbean Business;7/4/2013, Vol. 41 Issue 25, p10 

    Several charts are presented that list the winners and losers in Puerto Rican stock market for the week ending June 28, 2013.

  • Co-Movement and Index Changes - Evidence from The Emerging Indian Stock Market. Parthasarathy, Srikanth // Asian Journal of Finance & Accounting;2011, Vol. 3 Issue 1, p185 

    This study investigates the return co-movement around the benchmark Nifty index changes for the period 1999-2010 in the Indian stock market. We find evidence of significant increase in co-movement between the added stocks and the Nifty index subsequent to additions to the benchmark Nifty index....

  • Price and Volume Effects Associated with Index Additions: Evidence from the Indian Stock Market. Parthasarathy, Srikanth // Asian Journal of Finance & Accounting;2010, Vol. 2 Issue 2, p55 

    This study investigates the price and volume effect of index additions to the benchmark Nifty index for the recent period 1999-2010 in the Indian stock market. This study evidences significant, positive permanent abnormal returns around index announcement and inclusion. The support for permanent...

  • Stocks Mixed In Afternoon; F5 Bounces Off 50-Day Line. PAUL WHITFIELD // Investors Business Daily;6/27/2014, p00 

    Major stock indexes appeared en route Friday to mixed weekly results.

  • Daily Patterns in Stock Returns: Evidence From the New Zealand Stock Market. Bin, Li; Benjamin, Liu // Journal of Modern Accounting & Auditing;Oct2011, Vol. 7 Issue 10, p1116 

    In this paper, we study day-of-the-week effects in stock returns across different industry sectors in the New Zealand market. Unlike other studies on this market, we examine weekday seasonality using daily stock return data of four market indexes and 16 industry sectors for the period from...

  • Stocks Stage Small Rebound; Activision Hits New High. PAUL WHITFIELD // Investors Business Daily;6/27/2014, p00 

    Stocks staged a small rebound in late afternoon trade Friday.

  • Watch the Transports.  // Dow Theory Forecasts;12/8/2003, Vol. 59 Issue 49, p3 

    Reports on the performance of stocks in the stock market in the U.S. as of November 2003. Reach of 18-month high of Dow Industrials and S&P 500 Index; Increase in the manufacturing activity; Discussion of the Dow Theory regarding the performance of stocks.

  • Finance.  // Inside Tucson Business;9/26/2005, Vol. 15 Issue 15, p28 

    Presents a chart depicting the stock exchange rate, stock indices, and market and sector performance of companies in Tucson, Arizona.

  • The Weather and Stock Returns in New Zealand. Keef, Stephen P.; Roush, Melvin L. // Quarterly Journal of Business & Economics;Winter/Spring2002, Vol. 41 Issue 1/2, p61 

    We examine how the daily returns of the Value-Weighted All Shares Stock Index of the New Zealand Stock Exchange are influenced by different facets of Wellington's weather. The period studied is June 1986 to October 2002. Factor analysis of eight weather variables results in the extraction of...


Read the Article


Sorry, but this item is not currently available from your library.

Try another library?
Sign out of this library

Other Topics