Before revision:  The vector of proportions of the total market capitalization that belongs to each stock is called the market weights. Consider two portfolios, one is a passive buy-and-hold portfolio representing the entire market , and the other assigns a portfolio vector for each possible value of the market weights and requires trading to maintain this assignment.
After revision:  The vector of proportions of the total market capitalization that belongs to each stock is called the market weight. The market weight defines a buy-and-hold portfolio representing the entire market , and the other assigns a portfolio vector for each possible value of the market weights and requires trading to maintain this assignment.