The Nasdaq Veles California Water Index (NQH2O) seeks to track the spot rate price of water rights in the state of California. The goal of the index is to represent the current valuation of water as determined by water entitlement transactions from California’s surface water market and selected adjudicated groundwater basins. The prices reflect the commodity value of water at the source, and do not include additional costs associated with transportation or losses. The data are limited to transactions resulting from market negotiations, and exclude transactions involving non-financial consideration. The index is priced in U.S. Dollar per Acre Foot ($/AF).
The Nasdaq Veles California Water Index is a modified volume-weighted average index. The value of the index equals the volume-weighted average of the prevailing prices in the underlying markets after adjusting for idiosyncratic pricing factors specific to each of the eligible markets and transaction types. The Index began on October 31, 2018 at a value of306.56 $/AF.
The Index is calculated and disseminated once per week after the close of business on Wednesday. If Wednesday is a market holiday, the index value will be disseminated after the close of business on Thursday. The index value is representative of all data through the end of the prior week.