The phrase "alternative index" is correct and usable in written English.
It can be used in contexts where you are referring to a different or supplementary index, such as in data analysis, research, or indexing systems.
Example: "In our report, we will provide an alternative index to help readers find relevant information more easily."
Alternatives: "substitute index" or "secondary index".
Constructing an alternative index would be a modest way to start.
So he compiled an alternative index, combining data ranging from child poverty and infant mortality to crime, access to health care and alcohol-related traffic deaths.
We also re-estimated our model of the impact of misperceptions on wages using this alternative index.
We computed an alternative index by recoding the misperception to zero whenever the actual unemployment rate fell anywhere on the perceived interval.
The results show that the penetration time is an alternative index, and all of the BOF-asphalt concretes have a waterproof function.
The skeleton void ratio was proposed in the literature as an alternative index for mixed soils, based on the assumption that all fines act as voids.
Since the 1980's, other groups have developed alternative indexes of social health using different sets of variables.
That makes it easier for alternative indices to outperform over the long run.The low-volatility approach exploits a similar anomaly.
As an alternative, indexing the tax basis of assets might help, but indexing adds its own complexity (and new abuses if we do not index liabilities).
That's just for starters.A two-part study by academics at the Cass Business School found that all these alternative indices beat a cap-weighted index over the long run, and had a better risk-adjusted return.
Doubt about the official number has spawned a number of alternative indices, some of which suggest the 2006 inflation rate could have been as high as 20%.Even on the official measure, inflation is now surging.
