The Dow Jones Industrial average is missing tech giants Apple and Google among its 30 components, but it's still a good representation of the market, according to one analyst.
"There are only 30 stocks and you can't kiss all the babies," said Craig Lazzara, head of index investment strategy at S&P Dow Jones Indices. "But in terms of the overall representation in the Dow vs. the S&P 500, the two are remarkably close."
Cisco, IBM, Intel and Microsoft represent the tech sector among Dow components. Cisco, not Apple or Google, replaced General Motors in 2009 when the automaker filed for bankruptcy.
And even though mid-cap, small-cap and microcaps aren't a focus of the Dow or S&P, the large-cap S&P components make up roughly 80 percent of the overall market's value, Lazzara noted.
Small and mid-cap stocks tend to outperform large caps, according to Lazzara. "I can't really say it's going to work that way next year and over time," Lazzara told "Big Data Download."
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