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Industry Groups vs $DJUSxx industry members

Just some information

The Industry groups on StockCharts as viewed via the Sector Summary drill downs are different than the members of the Dow Jones Industry classifications. StockCharts uses their data providers classification/grouping for industry/sector, but they use the Dow Jones data for the Charts of the industry groups.

Example, is one that has been ticking on my nerves for a bit. $DJUSAL is the Dow Jones Aluminum index. I often wondered why it had, essentially, the same performance characteristics as AA (Alcoa). Put the two symbols on a perf chart and they run together. Slap them on an RRG chart, the same.

Using the Sector Summary for Materials> Aluminum, you get 8 names. Of these 8 names only 2 are in the Dow Jones Index. In fact, only 2 names make up the $DJUSAL. AA and KALU. DJ Indexes are cap weighted, so AA accounts for approximately 95% of the $DJUSAL performance.

So, if you have a chartlist of the $DJUSxx to run scans against, it's just something to be aware of.

StockCharts also uses the $DJUSxx when using the $Industry option in PctRelative and Price/Price Performance indicator on a chart. If you run a scan and select an industry group(s), these use the StockCharts data providers classification for selection.

Comments

  • There is no easy way to take a Sector Summary - Industry Summary detail list and make it a chartlist that we can see in Summary or Candleglance mode ... without HAND TYPING all those symbols. ... Do you agree ???
  • markdmarkd mod
    edited April 14
    On the scan workbench, you can click on the drop down for Sectors and Industries, select the sector or industry you want and click "Add".

    That will add a line to the scan window "and [group is..]" whatever you selected.

    Then, delete the default line for universe and add in your own. Market cap, average volume, exchanges - whatever describes the kind of issues you are interested in. Then run the scan - save it to a list. I have one for every industry and renew them from time to time.

    A couple of notes:

    Not every symbol in the database is assigned to a sector or industry - obviously not indexes, etfs, etc. but also some companies, usually new listings or very small caps. Also foreign owned companies that mostly do business outside the US (ADRs) may not be assigned to a sector or industry.

    Also, some symbols may not be classified as you might expect, and from time to time some are misclassified. Where companies are in multiple businesses, classification seems to be based on which business contributes the most to earnings. From time to time I have asked Support to re-classify some symbols. Sometimes - most of the time - they agree with me. Sometimes they don't, and they may be right. I don't want to go deep into fundamentals, so I let it go.
  • lmkwinlmkwin ✭✭
    edited April 14
    No easy way.... easy is a relative term. If you really want one for industries, then the link below gives you the symbols. You'd want to highlight the page, copy to excel, then go to the next page and copy that to the excel, and so on.

    At the end, you should be able to copy the symbols from the excel sheet into a chartlist, either by using the "Many" in Chartlist Edit, or by setting the excel sheet to being a csv for import. Another option at the end of this post.

    https://school.stockcharts.com/doku.php?id=index_symbols:dj_us_indices

    You could play with the search term in the search to see if you can come up with an acceptable sector listing.

    To add on to @markd comments, some symbols do not have a SCTR rank or are misclassified in whether they are SCTR.large, .mid, or .small. Be aware of that if using it in a Rank By or filter.

    In researching this, I note that there is a SCTR.Industry in the Price,Volume&SCTRs dropdown. Another way to get a listing is to use the scan filter [SCTR.industry > -1] as the only line of a scan. I have no idea if the listing returned is complete, but it's over 100 results so I'd think it should be. You can save those results to a chartlist.
  • OK - Thanks ... Good ideas.
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