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Swiss Market Index (SMI) - A Leading Indicator of the Swiss Economy

What is the Swiss Market Index (SMI)?

The Swiss Market Index (SMI) is a stock market index that tracks the performance of the 20 largest and most liquid companies listed on the SIX Swiss Exchange in Zurich, Switzerland. It is a capitalization-weighted index, which means that the companies with the largest market capitalizations have the greatest impact on the index's value.

The SMI was launched in 1988 and is calculated in real time. It is published by SIX Swiss Exchange and is considered a leading indicator of the overall health of the Swiss economy.

How is the SMI Calculated?

The SMI is calculated by dividing the total market capitalization of the 20 constituent companies by the divisor. The divisor is a fixed value that is adjusted periodically to ensure that the index remains stable over time.

The market capitalization of a company is calculated by multiplying the number of outstanding shares by the current share price.

What are the Constituents of the SMI?

The constituents of the SMI are reviewed annually by SIX Swiss Exchange. The 20 companies that are currently included in the index are:

ABB
Adecco
Alcon
Credit Suisse
Geberit
Holcim
Lonza
Nestlé
Novartis
Partners Group
Roche
Sika
Sonova
Swatch Group
Swiss Life
Swiss Re
Syngenta
UBS
Zurich Insurance Group

How is the SMI Used?

The SMI is used by investors to track the performance of the Swiss stock market. It is also used by economists to gauge the overall health of the Swiss economy.

The SMI is a widely followed index and is often used as a benchmark for investment performance.

Conclusion

The Swiss Market Index (SMI) is a leading indicator of the Swiss economy. It is a capitalization-weighted index that tracks the performance of the 20 largest and most liquid companies listed on the SIX Swiss Exchange in Zurich.

The SMI is used by investors to track the performance of the Swiss stock market and by economists to gauge the overall health of the Swiss economy.