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These types of relationship help construct new indexes that offer a real-time picture of the economy.
Investment companies build their funds and E.T.F.'s around different ones, and new indexes continue to arrive.
Neither Mr. Ghayur nor Mr. Sauter would say that MSCI's new indexes were likely to diverge significantly from the others in measuring market movements.
The adjustments, by Morgan Stanley Capital International, could prompt a flurry of buying and selling as money mangers adjust to the new indexes.
The magazine hopes the new indexes -- which will move up and down as a stock measure, just like the Dow Jones average -- will become major benchmarks of stock performance in the broader market as well as the increasingly popular technology sector.
In observing how a calamitous event like the destruction of the World Trade Center can establish new indexes of timekeeping (the "Before and After" syndrome), Deaver argues that stopping time in its tracks is a madman's ruse for stopping life itself.
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The new index has potential drawbacks.
The new index isn't all new economy.
The new index components will be named Saturday.
Some rivals, however, say they welcome the new index.
Yet not everybody is impressed by the new index.
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