Custom benchmark

Research
1

I am working on my simulations and my ranking system just doesn’t make sense for certain sectors so I am testing it excluding financials, utilities, and telecom. The problem is, the results aren’t that useful unless I can benchmark it against an index that also excludes those sectors. Is there a way to make a custom benchmark?

2

One of the intended purposes of Tools->Custom Series is to create custom indices. I haven’t used it that way, but it should work.

Best,
Walter

EDIT: there’s a tutorial in HELP->Tutorials under Tools.

3

Yes, but even if you created it as a custom series, I don’t believe it could be selectable as a universe in the screener, simulator or Portfolio.

4

This could be comparably easily fixed by permitting the custom universes (from Tools >> Custom Universe) to the benchmark drop down menu in the portfolio simulation screen. Maybe it’s worth a feature request if one doesn’t already exist.

5

I have over 200 custom series setups. Putting all of them in a drop down menu would be painful.

Walter

6

The custom series main uses are:

  • creating breadth indicators (ex: for market timing)
  • aggregate market fundamentals (ex: fundamental “market health”)
  • custom indices/benchmarking

The fist two can be used as is: either by analyzing the custom series chart or using GetSeries in rules

The last one needs to be integrated as mentioned: making custom series available as the benchmark. It’s a popular request so we’ll add it soon. We’ll add a way for you to specifically indicate which series should be included in the benchmark drop-down.

Thanks

PS. the current tutorial shows you how to create a series. A new one is need for showing all the different uses

7

Yea that’s the problem

8

Thanks Marco.

9

Great Marco. Looking forward to this one!

10

Here’s a link to the tut Marco mentioned.

Thanks for working on making custom series available as a benchmark soon!

11

Thank you Marco. Custom series benchmarks would be very useful.