A stock index containing approximately 1,675 companies from the NYSE, American Stock Exchange, Nasdaq and over-the-counter market. The Value Line Index has two forms: The Value Line Geometric Composite Index (the original equally-weighted index) and the Value Line Arithmetic Composite Index (an index which mirrors changes if a portfolio held equal amounts of stock.) These indexes are typically published in the Value Line Investment Survey, created by Arnold Bernhard, the founder and CEO of Value Line Inc.
The "Value Line" where the index receives its namesake refers to a multiple of cashflow that Bernhard would superimpose over a price chart to normalize the value of different companies.
Value Line is one of the most respected investment research firms. Its performance record has been extremely strong. In fact, the firm's model portfolios have generally beat the market over the long run.