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Hart Capital’s index shows big local gains

The index uses 15 companies to track the regional market

As the S&P 500 has hit record market highs, the gains also fueled a strong first quarter for the Hart Capital Inland Northwest Index.

The Inland Northwest index is a 15-company tracking tool developed by Hart Capital Management, a Spokane-based investment firm.

The Hart index gained 6.7 percent during 2013’s first quarter. In the same three months, the rip-roaring S&P 500 index climbed about 10 percent.

Over the past 12 months, the Hart index returned 14 percent while the S&P 500 and the Russell 2000 increased by 11.4 percent and 14.6 percent respectively. The Hart index lost 3.2 percent in the fourth quarter of 2012.

This graph is weighted to account for the relative market capitalization of the 15 companies. The Hart index starts at the 100 value as of Dec. 31, 2002; the S&P 500 graph begins at its relative position on that date.

Hart does not manage funds in this index and uses it solely to gauge the market performance of regional companies.

Notably, this will likely be the final graph that includes Coeur d’Alene Mines. That company recently announced it is relocating to Chicago. Hart intends to replace that stock with a comparable one.

The top-performing stocks in the Hart index during the quarter were Idaho Independent Bank, Clearwater Paper Corp. and Potlatch Corp., with respective increases of 55.9 percent, 34.6 percent and 17.1 percent.

Coldwater Creek was the biggest loser, falling by 34.3 percent for the quarter.

The same three companies led the index over the past 12 months.

More information on the index is available at