Well not necessarily. In a nutshell, indices are how we assess and analyze the pattern. Many of the indices out there are a measure of pressure anomalies between fixed pressure circulations. For example, when we're talking about say the North Atlantic Oscillation and say it is negative, that is suggesting that the pressures associated with the icelandic low and azores high are both weaker than average.
The biggest challenge becomes with interpretation and understanding of what each of these indices mean and how they are all driving the pattern. More times than not, the pattern is not driven by one variable. But what there seems to be a tendency of is making 1:1 correlations when there is no 1:1 correlation. Back to the NAO example, we tend to think of negative NAO's as being below-average temperature wise in the Northeast with increased snowfall potential, however, that is not a 1:1 correlation.
The overblown comes with the "the PNA, EPO, AO, NAO, MJO " is this so we'll see this.