DEFINITION of 'Palisades Water Index'

A stock market index that gauges the performance of global water industry companies. These companies encompass such subsectors as water utilities, pump and filter manufacturers, and irrigation equipment. The index was created in order to capitalize on the growing public awareness of water provision and treatment.

BREAKING DOWN 'Palisades Water Index'

As of December 31, 2003, the index was set at 1,000. In order to find out where it is now, look for ticker symbol ZWI. The index is a modified, equal weighted dollar index and trades on the AMEX.

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