Stocks with Negative Correlation to its Index

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  • 10/29/2022 at 9:56 PM #203198 quote
    Mary
    Participant
    Average

    Hello,

    Is there a way to write a Screener where you are looking for Stocks that
    Negatively correlate to its Indices? Not opposite exact movement but stocks that do their own thing and not
    follow or correlate with its Index?

    10/30/2022 at 4:26 PM #203222 quote
    JS
    Participant
    Veteran

    Hi @Mary

    You can use “EquityFrame” in your screener.

    This allows you, for example, to calculate the relative strength between a stock and its index…

     (excerpt of the ProScreener documentation)

    This screener allows us to visually display the correlation between a security and other securities in the same market. We calculate the ratio of the closing prices of 2 securities selected using “EQUITYFRAME”. We then calculate the difference between the current level of the ratio and the ratio for the previous day.

                      TIMEFRAME(daily) CloseVal = Close EQUITYFRAME(“NASDAQ”,”AMZN”) CloseInd = Close EQUITYFRAME(default) Ratio = (CloseVal / CloseInd) *100 RelativeStrength = (Ratio – Ratio[1]) *100 SCREENER(RelativeStrength AS”RelativeStrength”)
    10/30/2022 at 9:42 PM #203259 quote
    Mary
    Participant
    Average
    So as I understand  what you wrote, there is no way to screen for a batch of Stocks, but only can compare each individual stock to it Index in Prorealtime?
    10/30/2022 at 11:07 PM #203262 quote
    JS
    Participant
    Veteran

    Hi @Mary

    When I use the screener above (for the first time) I get multiple results…

    Scherm­afbeelding-2022-10-30-om-23.04.05.png Scherm­afbeelding-2022-10-30-om-23.04.05.png
    11/01/2022 at 9:18 AM #203339 quote
    Mary
    Participant
    Average
    ah just figured it out how to set up the screener for this. thank you! its working.
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Stocks with Negative Correlation to its Index


ProScreener: Market Scanners & Detection

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Mary @mila Participant
Summary

This topic contains 4 replies,
has 2 voices, and was last updated by Mary
3 years, 4 months ago.

Topic Details
Forum: ProScreener: Market Scanners & Detection
Language: English
Started: 10/29/2022
Status: Active
Attachments: 1 files
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