The Thomson Reuters’ Post-Venture Capital Index (PVCI) returned to its woeful ways and dropped 87.73 points in November to end the month at 845.85, its lowest point of the year.
The index of venture-backed stocks had risen in October after falling four consecutive months prior to that.
It’s high point the last two years was in February 2014 when it reached 1098.36.
The PVCI typically swings with the fortunes of the Nasdaq and S&P 500 indexes.
At the end of November, the PVCI was comprised of 481 companies. Of the stocks tracked, 296 advanced in value during the month while 185 declined. The number of companies in the index rises and falls, depending on new issues or as the companies fold or are acquired. Also, companies remain in the index for only 10 years.
A total of 78 of the advancing stocks were in computer software and services, followed by 62 in the biotech sector. Biotech, which had been enjoying a resurgence lately in the stock market, only had 23 companies lose value during the month.
To download an Excel file: PVCI as of Nov. 30, 2015
What is the PVCI?
The PVCI tracks VC-backed stocks beginning at the time when they go public. It is a market-valued index that measures the performance of public stocks of companies that have raised financing.
Companies remain in the index for 10 years from the IPO date or until price data is no longer available, they are acquired or removed from a publicly traded exchange.
The index is calculated daily and does not take into account dividends. It began in January 1986 with an initialized index value of 100.
Photo illustration of stock trading board from Shutterstock.