Creating multi-sector correlations - Sierra Chart | futures io social day trading
futures io futures trading


Creating multi-sector correlations
Updated: Views / Replies:593 / 2
Created: by DarkPoolTrading Attachments:0

Welcome to futures io.

(If you already have an account, login at the top of the page)

futures io is the largest futures trading community on the planet, with over 90,000 members. At futures io, our goal has always been and always will be to create a friendly, positive, forward-thinking community where members can openly share and discuss everything the world of trading has to offer. The community is one of the friendliest you will find on any subject, with members going out of their way to help others. Some of the primary differences between futures io and other trading sites revolve around the standards of our community. Those standards include a code of conduct for our members, as well as extremely high standards that govern which partners we do business with, and which products or services we recommend to our members.

At futures io, our focus is on quality education. No hype, gimmicks, or secret sauce. The truth is: trading is hard. To succeed, you need to surround yourself with the right support system, educational content, and trading mentors Ė all of which you can find on futures io, utilizing our social trading environment.

With futures io, you can find honest trading reviews on brokers, trading rooms, indicator packages, trading strategies, and much more. Our trading review process is highly moderated to ensure that only genuine users are allowed, so you donít need to worry about fake reviews.

We are fundamentally different than most other trading sites:
  • We are here to help. Just let us know what you need.
  • We work extremely hard to keep things positive in our community.
  • We do not tolerate rude behavior, trolling, or vendors advertising in posts.
  • We firmly believe in and encourage sharing. The holy grail is within you, we can help you find it.
  • We expect our members to participate and become a part of the community. Help yourself by helping others.

You'll need to register in order to view the content of the threads and start contributing to our community.  It's free and simple.

-- Big Mike, Site Administrator

Reply
 
Thread Tools Search this Thread
 

Creating multi-sector correlations

  #1 (permalink)
 Vendor: diversifyportfolio.com 
PTA, Gauteng
 
Futures Experience: Advanced
Platform: Self built + Sierra + TWS
Favorite Futures: Stocks and Options
 
DarkPoolTrading's Avatar
 
Posts: 1,036 since May 2012
Thanks: 1,244 given, 1,304 received

Creating multi-sector correlations

Hey all,

Im trying to create a chart for plotting the correlations and relative strength for baskets (sectors) of stocks. This is just using end of day data and I do not have access to an actual symbol/instrument representing each sector.

So what im hoping to do is somehow group all finance, resource, health, etc stocks. Then create an index that represents each basket/sector. Then ultimately plot each sector against each other on one chart to compare relative strength.

Im not entirely sure if this is even possible in Sierra, but if it is please could someone explain what will be required or point me in the right direction to get started.

Many thanks for any suggestions.

Diversification is the only free lunch
Reply With Quote
 
  #2 (permalink)
Elite Member
England
 
Futures Experience: Advanced
Platform: SierraChart
 
Posts: 58 since Jul 2009
Thanks: 5 given, 57 received

This should be quite easy to do.

Firstly, create a chart with any stock (this will make sense later).

Now create a chart for each of the stocks you are interested in.

For all the stocks in a particular sector, add a Spreadsheet Study and name it, say, Health. This will feed the prices into the spreadsheet.

Add the Health spreadsheet to the very first "dummy" chart. On the sheet that relates to this chart (ought to be Sheet1), put a formula in K3 that adds the closing price from all the other sheets (or whatever calculation you want to use to make the index). So for example, it might be Sheet2!E3 + Sheet3!E3 etc.

Now change the settings so that the K3 subgraph is displayed in Chart Region1. You could set it to display as the main graph, which will hide the dummy stock values.

You can now repeat this for the other sectors.

This may not do exactly what you want but hopefully there are some pointers here to get you started.

Reply With Quote
The following user says Thank You to swandro for this post:
 
  #3 (permalink)
 Vendor: diversifyportfolio.com 
PTA, Gauteng
 
Futures Experience: Advanced
Platform: Self built + Sierra + TWS
Favorite Futures: Stocks and Options
 
DarkPoolTrading's Avatar
 
Posts: 1,036 since May 2012
Thanks: 1,244 given, 1,304 received



swandro View Post
This should be quite easy to do.

Firstly, create a chart with any stock (this will make sense later).

Now create a chart for each of the stocks you are interested in.

For all the stocks in a particular sector, add a Spreadsheet Study and name it, say, Health. This will feed the prices into the spreadsheet.

Add the Health spreadsheet to the very first "dummy" chart. On the sheet that relates to this chart (ought to be Sheet1), put a formula in K3 that adds the closing price from all the other sheets (or whatever calculation you want to use to make the index). So for example, it might be Sheet2!E3 + Sheet3!E3 etc.

Now change the settings so that the K3 subgraph is displayed in Chart Region1. You could set it to display as the main graph, which will hide the dummy stock values.

You can now repeat this for the other sectors.

This may not do exactly what you want but hopefully there are some pointers here to get you started.

Thanks for the help.

I have 142 stocks which I will be dividing up into sectors. So this whole process is probably going to take quite a while to get working. I'll give it a go over the weekend and reply here if i've got any further questions.

Thanks again.

Diversification is the only free lunch
Reply With Quote
The following user says Thank You to DarkPoolTrading for this post:

Reply



futures io > > > > Creating multi-sector correlations

Thread Tools Search this Thread
Search this Thread:

Advanced Search



Upcoming Webinars and Events (4:30PM ET unless noted)

Jigsaw Trading: TBA

Elite only

FuturesTrader71: TBA

Elite only

NinjaTrader: TBA

Jan 18

RandBots: TBA

Jan 23

GFF Brokers & CME Group: Futures & Bitcoin

Elite only

Adam Grimes: TBA

Elite only

Ran Aroussi: TBA

Elite only
     

Similar Threads
Thread Thread Starter Forum Replies Last Post
Correlations and Inverse correlation ES sixsmith07 Emini Index Futures Trading 18 September 7th, 2015 11:41 PM
Bund and US Treasuries-correlations between indices/currencies Keab Commodities Futures Trading 1 February 27th, 2015 02:11 PM
Evaluating correlations keymoo Reviews of Brokers and Data Feeds 1 July 6th, 2013 04:52 AM
June Service Sector Growth Slowed to Multi-year Low Quick Summary News and Current Events 0 July 5th, 2012 12:20 PM
Guest Post: The Greatest Short - Why All Correlations Are Moving To 1 Quick Summary News and Current Events 0 October 30th, 2011 07:35 PM


All times are GMT -4. The time now is 09:08 PM.

Copyright © 2017 by futures io, s.a., Av Ricardo J. Alfaro, Century Tower, Panama, +507 833-9432, info@futures.io
All information is for educational use only and is not investment advice.
There is a substantial risk of loss in trading commodity futures, stocks, options and foreign exchange products. Past performance is not indicative of future results.
no new posts
Page generated 2017-12-17 in 0.08 seconds with 19 queries on phoenix via your IP 54.226.34.209