A new ULF wave index, characterizing the turbulent level of the geomagnetic field, has been calculated and applied to the analysis of relativistic electron enhancements during space weather events in March–May 1994 and September 1999. This global wave index has been produced from the INTERMAGNET, MACCS, CPMN, and Greenland dense magnetometer arrays in the northern hemisphere. A similar ULF wave index has been calculated using magnetometer data from geostationary (GOES) and interplanetary (Wind, ACE) satellites. During the periods analyzed several magnetic storms occurred, and several significant increases of relativistic electron flux up to 2–3 orders of magnitude were detected by geostationary monitors. However, these electron enhancements were not directly related to the intensity of magnetic storms. Instead, they correlated well with intervals of elevated ULF wave index, caused by the occurrence of intense Pc5 pulsations in the magnetosphere. This comparison confirmed earlier results showing the importance of magnetospheric ULF turbulence in energizing relativistic electrons. In addition to relativistic electron energization, a wide range of space physics and geophysics studies will benefit from the introduction of the ULF wave index. The ULF index database is freely available via anonymous FTP for all interested researchers for further validation and statistical studies.