Making the Chart For an apples-to-apples comparison of the Dow and the Composite, we downloaded the complete daily Dow data from the Dow Jones website.

Because the Composite index is based on the monthly averages of daily closes, we made an equivalent data series for the Dow.

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In the enterprise search or intranet search world, the facets were mainly dates, content types or access controlled information that business users were looking for.

Narrowing down the search results through facet filters reduces the level of frustration among the business users as they are now in control of the search results displayed to a certain extent through these filters.

His magnum opus, the 2nd edition of his Common Stock Index was published in 1939 and is now available online in PDF format.

The S&P Composite has been popularized by Yale Professor Robert Shiller, and an Excel copy of the data, updated monthly, is maintained at his Yale website.

We would counter that the greater diversification on the broader index is the true explanation.

An examination of the Dow components suggests that the index retained its industrial tilt well into the post-industrial economy, and it still excludes transportation and utilities.

In the early 2000, most organizations wanted a simple search button or search function that gave them 10 links on a search results page to find documents and web pages faster.

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In order to make the two indexes overlay, we picked one data point, March 1957, the month when the S&P 500 was launched, to adjust both series to the same value, 100% (the March 1957 data point divided by the same data point expressed as a percent).

We then chained both series to their respective March data point by making it a constant divisor. As the chart above illustrates, the pre-1957 Composite mirrored the Dow very closely as far back as 1916, the year the Dow was expanded from 12 to 20 stocks (a two-thirds increase in the number of components).

For example, the Dow peak in 1929 and bottom in 1932 were slightly more extreme than the Composite.