What is the DAX Stock Index (Deutscher Aktien Index)?
The DAX stock index is a German stock index that represents 40 major companies listed on the Frankfurt Stock Exchange with significant market value and liquidity. It is one of the most important stock indices in Germany and serves as a crucial reference for international investors to gauge the overall performance of the German stock market.
How is the DAX Stock Index Calculated?
The price data for the DAX index is sourced from the electronic trading system Xetra, an electronic trading platform of the German Stock Exchange. The index is calculated using a free-float market capitalization-weighted method, combined with an average trading volume indicator. Free-float market capitalization refers to the company's market value minus its own shares, providing a more accurate reflection of the company's actual market value and influence.
What are the Constituent Stocks of the DAX Stock Index?
The DAX index was created in 1988 with an initial index level of 1,163 points. The total market value of DAX member companies accounts for approximately 80% of the total market value of the Frankfurt Stock Exchange. Initially, the DAX index had 30 constituent companies, but as of September 3, 2021, it has expanded to 40. These constituents represent different industries and sectors of the German economy, including automotive, financial, chemical, and electricity.
Below are the constituent stocks of the DAX index as of September 3, 2021 (in alphabetical order):
- Adidas AG
- Allianz SE
- BASF SE
- Bayer AG
- Beiersdorf AG
- BMW AG
- Continental AG
- Covestro AG
- Daimler AG
- Deutsche Bank AG
- Deutsche Bรถrse AG
- Deutsche Post AG
- Deutsche Telekom AG
- E.ON SE
- Fresenius Medical Care AG & Co. KGaA
- Fresenius SE & Co. KGaA
- HeidelbergCement AG
- Henkel AG & Co. KGaA
- Infineon Technologies AG
- Linde plc
- Merck KGaA
- MTU Aero Engines AG
- Munich Reinsurance Company
- Porsche Automobil Holding SE
- RWE AG
- SAP SE
- Siemens AG
- Siemens Energy AG
- Volkswagen AG (VW AG)
- Vonovia SE
- Delivery Hero SE
- Deutsche Wohnen SE
- Deutsche Wohnen SE
- Deutsche EuroShop AG
- K+S AG
- Sartorius AG
- Symrise AG
- Zalando SE
- Puma SE
- Siemens Healthineers AG
Please note, the composition of the stocks may change over time. The latest DAX index constituents can be obtained from the official website of the Frankfurt Stock Exchange or financial data providers.