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The phrase "as a performance index" is correct and usable in written English.
It can be used when discussing metrics or measures that evaluate the performance of a system, process, or individual.
Example: "The new software will be evaluated as a performance index to determine its effectiveness in improving productivity."
Alternatives: "as a performance metric" or "as a performance measure".
Exact(28)
For the evaluation of the filter accuracy, the condition number is used as a performance index.
In addition, the area specific resistance (ASRcat) of the reconstructed porous cathode is calculated as a performance index.
The specific power, defined as the power to heat ratio, is introduced as a performance index of that device.
The proposed index can be considered as a performance index in design and control of the system.
A boundary of reflection area (BRA) is proposed as a performance index in the evaluation of reflection glare.
The L2 norm of the error vector e is taken as a performance index to measure this kind of synchronizability.
Similar(32)
After having made a comparative study of different architectures, SVD was found to be the best post classifier as it marked a performance index of 89.48 and a quality value of 20.62.
Outcome parameters varied with each test, as in Table 2. Given the speed-accuracy tradeoff, (e.g., [ 18]) a performance index (computed as [accuracy/reaction time]*100) was computed for timed Mindstreams tests in an attempt to capture performance both in terms of accuracy and reaction time (RT).
The control problem is formulated as an optimisation problem by using a performance index, which comprises a weight sum of the control objective and penalty function of the control force.
EM is struck in the middle path as far as performance index is concerned.
LT as a quantitative performance index is an important specification for each facility in a supply chain.
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Since I tried Ludwig back in 2017, I have been constantly using it in both editing and translation. Ever since, I suggest it to my translators at ProSciEditing.

Justyna Jupowicz-Kozak
CEO of Professional Science Editing for Scientists @ prosciediting.com