CNX High Beta Index aims to measure the performance of the stocks listed on NSE that have High Beta. Beta can be referred to as a measure of the sensitivity of stock returns to market returns. The market is represented by the performance of the CNX Nifty. In order to make the 50 stock index investible and replicable, criteria’s such as turnover and market capitalization are applied while selection of securities..

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Weights of securities in the index are assigned based on the beta values. Security with highest beta in the index gets highest weight.

Index Eligibility
  • Companies must rank within the top 300 companies by average free-float market capitalization and aggregate turnover for the last six months.
  • The company should have a listing history of 1 year.
  • The company should have an investable weight factor (IWF) of at least 10%.
  • The company's trading frequency should be 100% in the last one year period.
  • The company should have reported a positive net worth as per the latest annual audited results.
  • Beta of eligible securities is calculated using 1 year trailing prices (Adjusted for corporate actions) are ranked in descending order.
  • Top 50 securities with high beta form part of the index.
  • In order to reduce the replacements of scrip’s in the index, a buffer of 100% shall be applied at the time of each review. This means that if the existing constituent at the time of the review ranks within the top 100, the same can be retained in the index.
  • Securities having beta greater than 1 will be selected to form part of the index at each review. In case this criterion is not fulfilled, scrip with highest beta in replacement pool will be considered for selection.

Downloads:
Download List of CNX High Beta Index Stocks (.csv)
Download Fact Sheet
Download Methodology
Download Historical Index Values