Global Financial Data extends the Dow Jones Transportation Average back to 1832
Bryan Taylor, Chief Economist, Global Financial Data
Global Financial Data has added 67 years of data and over 13,000 daily data points to the Dow Jones Transportation Average. GFD’s version of the average now begins in 1832 and provides daily data covering 185 years. The Dow Jones Transportation Average was introduced on September 23, 1889 and included 18 railroad stocks and 2 industrial stocks. On October 26, 1896, the two industrial stocks were removed from the railroad average when Dow Jones started calculating the Dow Jones Industrial Average with 12 industrial stocks. The Dow Jones Railroad Average included 20 stocks. Although the NYSE was closed between July 31, 1914 and December 12, 1914, GFD has collected data on the bid and ask prices for DJTA components while the NYSE was closed and has recalculated the average during the period when the exchange was closed. On January 2, 1970, the Dow Jones Railroad Average was renamed the Dow Jones Transportation Average and 9 of the railroad stocks were replaced with 9 airline and trucking companies to reflect the changes that occurred after World War II. Today, the Dow Jones Transportation Average is the longest continually calculated stock market index in the world. Now, GFD has added over 13,000 observations to the average before September 23, 1889 to create the world’s only index providing daily data on 185 years of market history. To put this data together, GFD found the top 40 railroads by capitalization each year from 1832 to 1889. Then GFD determined which of those 40 stocks had the greatest number of observations in each year and used that information to choose the 25 stocks for GFD’s railroad average. We then spliced our own calculations before 1889 onto the Dow Jones Transportation Average to create a continuous series. GFD has also calculated a return index that includes the reinvestment of dividends. A graph of the complete Dow Jones Transportation Average including GFD’s extension, from 1832 to 1899 is reproduced below. Anyone interested in following the market cycles that occurred in the U.S. stock market before 1889 can now track these changes on a daily basis. If you would like view this data, you can download the Dow Jones Transportation Average (with GFD extension) (_DJT3D) today, or call Global Financial Data today to speak to one of our sales representatives at 877-DATA-999 or 949-542-4200 and gain access to this data through a subscription.