Finding stocks outperforming their industry group

candidcactus

Am I not understanding that if I run this scan

[type = stock] AND [country is US]
and [SMA(50,close)*SMA(50,volume)>2500000]
AND [Close > 12 ]
and [group is NOT ETF]
and [0 week ago weekly close/0 week ago weekly close($industry) > 23 week ago weekly close/23 week ago weekly close($industry)]

that I should find stocks outperforming their industry. - - - I would find this more useful than comparing to $SPX

I always get 0 hits.
I run this price on my charts (price/industry price), see interesting trends, and would like to scan for stocks that are outperforming.
If I could do this one industry group at a time, I'd still find it useful.
Any thoughts?

candidcactus

when I substitute the last line with
and [weekly PctRelative(23, $industry)>0]
I'm told that the symbol $industry does not exist.
Not as a constant - seems to be the issue with this approach

candidcactus

If I could run this scan of all symbols in a chartlist or symbols in an industry group against industry (by industry symbol) that would work. Is there a way to do that
and [group is LifeInsurance] and [weekly PctRelative(23, $djusil)>0] - symbol $DJUSIL does not exist

lmkwin

Don't put a SPACE after the comma in the PctRelative line [weekly PctRelative(23, $industry)>0] has a space after the comma.

markd

This seems to work:

[group is LifeInsurance]
rank by [PctRelative(20,$DJUSIL) ]

Note a few things.

I've had trouble getting PctRelative to run with rank by. It seems it will work if you use the new editor (with the line numbers) and accept the suggestions it makes (click on the suggestion you want). If the rank by statement is working, the results page will show the PctRelative values in the last column. If it didn't work, the symbols will be listed in alphabetical order. I don't know what will happen if you copy and paste the text above. It may or may not work.

Note the industry symbol $DJUSIL must be written in ALL CAPS.

Performance is relative to a time frame - so you have to choose a parameter - this version has 20, which is about a month. You might want to use more or less.

On the results page, symbols with a value above zero are outperforming the industry symbol in the time frame you specified. That doesn't always mean those symbols are doing well, just better than the industry as a whole.

If you want to run a similar scan against more than one group, use

rank by [PctRelative(20,$INDUSTRY)]

lmkwin

Thanks for sharing. Glad you got it working for you.