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HDAX Index components | values (DE0008469016)

The HDAX is a stock index calculated by the Deutsche Börse as a performance index and a price index. It combines the values of all companies in the German selection indices DAX, MDAX, and TecDAX. This makes it more broadly diversified than the German blue-chip index DAX. The total number of stocks included in the HDAX is variable, as it includes stocks in the TecDAX that are already included in the DAX or MDAX.


The HDAX is the successor index to the DAX100, which previously consisted of the 30 DAX values and the 70 MDAX values (before the MDAX was reduced in size). The historical development of the HDAX was supplemented by that of the DAX100. The index was normalized to a base value of 500 points on December 30, 1987.



The HDAX is a stock index that reflects the price development of the 170 largest companies in Germany. It consists of the companies in the DAX, MDAX, and SDAX. The DAX includes the 30 largest companies in Germany, the MDAX contains medium-sized companies, and the SDAX includes companies with smaller market capitalization.

The HDAX is calculated as a performance index, which means that the dividends paid by the companies to their shareholders are reinvested. The weighting of companies in the HDAX is based on their market capitalization and the so-called "free float", which is the portion of shares that is freely tradable.


The HDAX is calculated and published by the Deutsche Börse and can be used as an indicator of the general development of the German stock market. It is a broader index than the DAX and thus includes smaller companies that are not included in the DAX.

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