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<SPAN
class=651322313-07072003>Graham,
are
you sure your data is clean? I routinely create 12 sector composites using the
method you describe (count the stocks then divide the sum of the price data by
that sum), It seems to work for me...... The description below is certainly
superior but sounds like a bear to maintain.
Regards,
Jayson
<FONT face=Tahoma
size=2>-----Original Message-----From: Graham
[mailto:gkavanagh@xxxxxxxxxxxxx]Sent: Monday, July 07, 2003 12:51
AMTo: amibroker@xxxxxxxxxxxxxxxSubject: RE: [amibroker]
Re: Creating a composite index of my watchlistThanks
for the repsonses, gives me something to start
withCheers,Graham<A
href="">http://groups.msn.com/ASXShareTrading<A
href="">http://groups.msn.com/FMSAustralia-----Original
Message-----From: Metasan [mailto:mdhuang@xxxxxxxxx] Sent: Sunday, 6
July 2003 12:11 PMTo: amibroker@xxxxxxxxxxxxxxxSubject: [amibroker] Re:
Creating a composite index of my watchlistOne 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 whatI > 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. Thestandard > method> > of just
adding the prices means that if a stock starts theresultant> >
composite chart gaps at that day due to the extra price of thenew >
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> > > > <<A
href="">http://groups.msn.com/ASXShareTrading>>
> <A
href="">http://groups.msn.com/ASXShareTrading>
> > > <<A
href="">http://groups.msn.com/FMSAustralia>>
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