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.

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.

swandro 

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.