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INVESTOPEDIA TERM OF THE DAY

Symmetrical distribution
A situation in which the values of variables occur at regular frequencies, and the mean, median and mode occur at the same point. Unlike asymmetrical distribution, symmetrical distribution does not skew. Also called a symmetric or normal distribution, it is commonly shaped like a bell curve when depicted on a graph. If you drew a line down the middle of the graph, the two sides would mirror each other.

VINX 30
A stock index that tracks the 30 largest companies with the most heavily-traded stocks on the Nordic stock exchanges. VINX 30 is denominated in euros and is an adjustable free-floating index. It tracks stocks that trade on the exchanges in Helsinki, Copenhagen and Stockholm.

Mortgage-backed note
A type of promissory note that is associated with a particular mortgage loan. Mortgage-backed notes represent the legal promise to repay a mortgage loan. These notes specify the terms of the loan, including the amount of interest and principal that must be repaid. They also obligate the borrower to make the payments.

Super currency
A supranational currency printed by the International Monetary Fund that would be tied to a basket of reserve currencies. The concept of a global super currency has been periodically discussed between world leaders as well as endorsed by 2001 Nobel Memorial Prize winner Joseph Stiglitz and well known business leader George Soros for years. A super currency could also be tied to a single currency, but the interconnectedness of world financial markets and concerns about the volatility that can occur as a result of the system being tied to one currency have made this idea much less popular.

ETF of ETFs
An exchange-traded fund that tracks other ETFs rather than stock, bonds or derivatives. ETFs of ETFs track the performance of other ETFs, which may have direct exposure to the underlying securities they track.

Water ETF