A price-weighted index is a stock index that requires each company to be assigned an equal weight. The total value of the index is determined by the value of each stock, as if all of them carry equal importance or value in the calculation. The return of an equal-weighted index is estimated as a simple average of the returns of the index stocks.
Some other related topics you might be interested to explore are Price-weighted index, Market-capitalization weighted index, and Float-adjusted market-capitalization weighted index.
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Equal-weighted index is among the topics included in the Portfolio Management module of the CFA Level 1 Curriculum.