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Well, Marshall, I wish you
hadn't asked me how to calculate beta.
I just realised how rusty I
have become with MetaStock. I've really switched to AmiBroker for 100% of
my current work.
I can tell you that you need to
use the "security" statement and that you need to have MetaStock Pro in order to
be able to use the security statement.
There is a "beta" function, but
I'm not sure how to use it.
I have the formula for
calculating beta, but I'm having trouble getting it to work.
I'm just letting you know that
I'm a bit stuck at the moment. As soon as I get it to work, I'll forward
the code to you. Maybe someone else can chip in with a
solution.
Basically, you want to
calculate beta for each stock against a constant ticker. The S&P 500
is usually used for this purpose. You would use the "security" statement
to get the close for the S&P. Then do the calculation.
Sorry I can't be much more help just now, but I'm working on
it.
<BLOCKQUOTE
>
<FONT face="Times New Roman"
size=2>-----Original Message-----From: M Smith
[mailto:msmith3@xxxxxxxxx]Sent: Monday, July 14, 2003 1:53
AMTo: equismetastock@xxxxxxxxxxxxxxxSubject: RE:
[EquisMetaStock Group] beta
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width="100%">
Chuck, Thanks for the reply. I agree that 5 years is too
long. The causes of beta change rapidly at times and over the last 5
years especially it has been radical. I am trying to come up
with a small universe of stocks to trade and I know that they should be
close with respect to beta values. How do you do it
yourself. I would do it if I knew how. Thanks for the help.
Marshall
-------Original
Message-------
From: <A
href="">equismetastock@xxxxxxxxxxxxxxx
Date: Monday, July
14, 2003 00:46:19
To: <A
href="">equismetastock@xxxxxxxxxxxxxxx
Subject: RE:
[EquisMetaStock Group] beta
<FONT face=Arial color=#0000ff
size=2>IMO...
<FONT face=Arial color=#0000ff
size=2>
<FONT face=Arial color=#0000ff
size=2>1. The best place to get 5-year beta (the usually quoted
value) for stocks would be Zack's. Do a custom search and export
to Excel. If you need more info, yell out.
<FONT face=Arial color=#0000ff
size=2>
<FONT face=Arial color=#0000ff
size=2>2. The first question you need to ask, however, is what
period do you think is best for beta. I happen to think that
5 years is too long.
<FONT face=Arial color=#0000ff
size=2>
<FONT face=Arial color=#0000ff
size=2>3. If you agree that 5 years is too long, why not calculate
your own, 100% accurate beta using MetaStock.
<FONT face=Arial color=#0000ff
size=2>
<FONT face=Arial color=#0000ff
size=2>4. If you decide on a period and you want a file containing
current betas for that period and you aren't able to do it in MetaStock,
let me know and I'll send it to you.
<FONT face=Arial color=#0000ff
size=2>
<FONT face=Arial color=#0000ff
size=2>5. The beauty of doing it yourself is that you can do it
dynamically and the beta would change (slightly) every day of your
backtest and be 100% accurate.
<FONT face=Arial color=#0000ff
size=2>
<FONT face=Arial color=#0000ff
size=2>Hope this helps.
<DIV
>
<FONT face="Times New Roman"
size=2>-----Original Message-----From: marshall
[mailto:msmith3@xxxxxxxxx]Sent: Monday, July 14, 2003 1:21
AMTo: equismetastock@xxxxxxxxxxxxxxxSubject:
[EquisMetaStock Group] betaanyone know the best
place to find the most current Beta values for stocks?
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