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[amibroker] Re: Creating a composite index of my watchlist



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One more thing: the divider also need to be adjusted when a stock is 
removed from the list. 

--- In amibroker@xxxxxxxxxxxxxxx, "Metasan" <mdhuang@xxxx> wrote:
> 
> There are many ways to calculate an index and the following is what 
I 
> do. Just as the DJ30, choose a variable divider to ensure the 
> continuity of the index. index = sum(all stock prices)/divider.
> 
> At the beginnig, the index is 100. Suppose there are 3 stocks: A, 
B, 
> C. 
> 
> The initial divider d = (A+B+C)/100; index = (A+B+C)/d = 100.
> 
> The divider doesn't change until there is a split or a new addition.
> 
> When there is a split, for example, stock A has a 2 for 1 split, 
and 
> its new price is half of its old price, but the index should not 
> change. So (A+B+C)/d = (A/2+B+C)/d1 where d1 is the new dividor. 
Thus 
> we get d1 = (A/2+B+C)*d/(A+B+C).
> 
> When adding a new stock D, the divider is adjusted (on that day) as 
> follows:
> d1 = (A+B+C+D)*d/(A+B+C) where d1 is the new divider.
> 
> 
> 
> --- In amibroker@xxxxxxxxxxxxxxx, "Graham" <gkavanagh@xxxx> wrote:
> > I am trying to create an index of my watchlist of stocks that is 
> consistent.
> > It is easy to do if they all have traded for the same period of 
> time, but
> > some stocks started trading more recently than others. The 
standard 
> method
> > of just adding the prices means that if a stock starts the 
resultant
> > composite chart gaps at that day due to the extra price of the 
new 
> stock. I
> > tried dividing by the number of stocks but the gap remains.
> > I have also tried just using the change of price each day but it 
> does not
> > produce a usable chart.
> > Has anyone got any ideas that I could try.
> > Ultimately I want to use it as a tool to determine strengths and 
> divergances
> > within the watchlist of stocks, much as a sector index would be 
> used.
> > TIA
> >  
> > 
> > Cheers,
> > Graham
> > 
> >  <http://groups.msn.com/ASXShareTrading>
> > http://groups.msn.com/ASXShareTrading
> > 
> >  <http://groups.msn.com/FMSAustralia> 
> http://groups.msn.com/FMSAustralia


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