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A small potential issue with the $SECTOR variable?

Kevo
✭
in SharpCharts
The $SECTOR and $INDUSTRY variables/syntax are a nice feature upgrade. I noticed that the $SECTOR variable returns only the 9 large cap sectors. A lot of symbols are small caps, or mid caps. The small cap sectors are usually correlated to their large cap counterparts. However, not always. Recently, small cap sectors were not correlated with their large cap counterparts for 4 weeks (approximately). Thus, it may be a good idea to check small/large cap correlation before using $SECTOR if you study a small cap symbol. Does anyone see this as an issue? No one has mentioned this.
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Comments
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Interesting comment. Pretty sure all the indices SC uses are cap weighted. Isn't the non-correlation what you are looking for? Maybe I'm not understanding your point. But, if you think sector is the wrong comparison (I don't use it), stock vs. industry RS probably works as well, maybe better, since the comparison is with more closely related peers - although again not separated out by cap. Then industry vs. sector, instead of stock vs. sector, and sector vs. market. I'd give you points for the question, but I guess we can't do that anymore - or at least I haven't figured it out yet.0
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It is just SC's opinion as to what sector or industry a stock belongs in if the stock is not an actual component of the the SPDR SELECT Sectors or Dow Jones Index (group)0
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