MICEX Index

The MICEX 10 Index (Russian: Индекс ММВБ10) is an unweighted price index that tracks the ten most liquid Russian stocks listed on MICEX-RTS in Moscow, Russia. Composition of the index is assessed quarterly following the liquidity criterion. Components are assigned equal weight.

The index is the arithmetic average of the change of prices between a time ${\displaystyle t}$ and a base time 0, which is the end of the preceding quarter. The formula is:

where ${\displaystyle P_{i}}$ is the price of the component stock ${\displaystyle i}$ at time ${\displaystyle t}$, ${\displaystyle P_{i}^{0}}$ is the price of the component stock ${\displaystyle i}$ at the end of previous quarter, and ${\displaystyle k}$ is the adjustment coefficient.

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