Charting stocks relative to something else

• 09/13/2019 at 10:24 AM #107423
  Noughtboy

  Hello,

  I was wondering if it is possible to chart one code relative to another to see an under/out performance. For example South African Gold price relative to the ZAR gold price or one bank relative to another or an index.

  Essentially, lets say AAL/BLT or AMS/(XPTUSD*USDZAR) or even HSBA/UKX

  Thanks

  

  Noughtboy

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  09/13/2019 at 10:36 AM #107425
  Nicolas

  You can do that with the spread chart tool available in the Display menu or with CTRL+R (Windows).

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  Noughtboy

  

  Nicolas

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  09/13/2019 at 11:31 AM #107437
  Noughtboy

  Hello Nicholas,

   

  That does work…do an extent. However, in the case of charting a stock relative to the local price of the commodity, I cannot use the saved spread as an input reference for one of the relatives.

  So, I could get a spread of AMS to XPTUSD. However, I cannot then use this to chart the relative of [AMS/XPTUSD] / [XPTUSD*USDZAR] –

  or in simple terms, the price movement of Anglo American Platinum (AMS) relative to the Platinum price in South African Rand (ZAR). The formula would be AMS/(XPTUSD*USDZAR)

  I cannot use a coefficient as the currency price is not fixed and constantly moves around. If there was a third (or more) stock code available, I could probably do this (BODMAS?). However, I cannot add a third one nor am I able to reference a personal spread already calculated.

  Many thanks

  

  Noughtboy

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  09/13/2019 at 2:24 PM #107472
  Nicolas

  That’s right, you can’t use a created spread instrument to be compared to another one. There’s no possibility to have 3 different instruments in the same spread chart calculation, sorry.

  

  Nicolas

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