Robinhood (HOOD) Launches Investor Index

Robinhood (NASDAQ: HOOD) revealed its Investor Index on Friday, which shows an aggregate view of its customers' top 100 most owned investments on the Robinhood platform.

The Robinhood Investor Index also tracks the performance of those investments over time.

"Unlike most other indices, it isn't weighted by dollars, but by conviction. We measure a customer's conviction for each investment by looking at the percentage it makes up of their portfolio," Robinhood said in a statement.

The index also averages the conviction for each investment across all investors, regardless of their account balance.

Robinhood will update the index once a month. So far, it leans towards large-cap stocks with 75% in large-cap, 16% in mid-cap, and 9% in small-cap.

Robinhood shares are up 5.9% Friday.

By Sam Boughedda

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