CORAL GABLES, Fla., April 3, 2017 /PRNewswire-USNewswire/ -- The University of Miami's Florida 50 Index, a bellwether on the state's economy, was up more than 10 percent in the first quarter of 2017, outperforming both the S&P 500 and S&P 1500 by nearly double. The Florida index, which tracks all Florida firms in the S&P Composite 1500® Index, ended the quarter up by 10.39 percent, while the S&P 500 saw a gain of 5.53 percent and the S&P 1500 rose 5.22 percent.
The top-10 Florida performers included TopBuild Corp., up 32.02 percent, The GEO Group Inc., up 31.0 percent, CSX Corp., up 30.06 percent, Jabil Circuit Inc., up 22.52 percent, Tupperware Brands Corp., up 20.49 percent, Royal Caribbean Cruises Ltd., up 20.17 percent, Lennar Corp., up 19.33 percent, Marriott Vacations Worldwide Corp., up 18.19 percent, ACI Worldwide Inc., up 17.85 percent, and HCI Group Inc., up 16.34 percent.
"One of the biggest winners in UM's Florida 50 Index is CSX Corp., which yielded a first-quarter return of more than 30 percent, and because its capitalization is nearly 11 percent of the index, it positively influenced the performance of the index overall," said Tie Su, an associate professor at the University of Miami School of Business Administration. "The Index is also heavily weighted by the financial, energy and consumer discretionary sectors, which have all significantly beat the broader market indices.
The Florida 50 Index, which was established by the University's School of Business Administration in 2016, is based on the capitalizations of all Florida-based large-, mid- and small-cap companies included in the S&P 1500 index having common stock listed on the NYSE or NASDAQ. It is the first custom S&P Dow Jones index to be owned by a university and the only index that focuses solely on public companies headquartered in an individual U.S. state.
The index is available under the ticker symbol UMIAMIFL through the S&P website at: www.umiamifl.com. The performance can be monitored in real time on Yahoo Finance. The full list of index components can be found here.
About the University of Miami School of Business Administration
The University of Miami School of Business is a leader in preparing individuals and organizations to excel in the complex, dynamic, and interconnected world of global business. One of 12 schools and colleges at the University of Miami, the School offers undergraduate, master's, doctoral, and executive education programs. With its location in a major center for international business, the School is acclaimed for its global perspective, student and faculty diversity, and engagement with the business community. More information about the University of Miami School of Business can be found at www.bus.miami.edu
EDITOR'S NOTE: A graphic showing the industry breakdown of the Index components is available for download at https://www.dropbox.com/s/nwyf6cz8775zjsb/UMIAMI-FL-50.jpg?dl=0
SOURCE University of Miami School of Business Administration