XAX.X is the symbol for the AMEX composite index. The AMEX Composite Index is a capitalization-weighted index of primarily small-cap stocks and American depository receipts that trade on the New York Stock Exchange (NYSE). The index is used as a tool to monitor how small company stock prices are performing overall.
How does the AMEX composite index compare to other indices?
Compared to most indices, the AMEX composite index is composed of nano-, micro-, and small-cap companies. These companies are known to be more volatile and considered riskier than companies with higher liquidity due to high market-capitalization. Traders and investors are often avoid these stocks during times of economic turmoil, but they draw attention when the market is positive and traders are more speculative.