Stocks with Negative Correlation to its Index

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

  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?

   

  

  Mary

  Participant

  Topics: 35

  Replies: 40

  Been thanked: 4 times
  10/30/2022 at 4:26 PM #203222
  JS

  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”)

   

  

  JS

  Participant

  Topics: 26

  Replies: 1758

  Been thanked: 814 times
  10/30/2022 at 9:42 PM #203259
  Mary

  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?

   

   

  

  Mary

  Participant

  Topics: 35

  Replies: 40

  Been thanked: 4 times
  10/30/2022 at 11:07 PM #203262
  JS

  Hi @Mary

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

   

  

  JS

  Participant

  Topics: 26

  Replies: 1758

  Been thanked: 814 times
  11/01/2022 at 9:18 AM #203339
  Mary

  ah just figured it out how to set up the screener for this. thank you! its working.

  

  Mary

  Participant

  Topics: 35

  Replies: 40

  Been thanked: 4 times
• Author
  Posts