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Ratio of Stocks Outperforming/Underperforming Their Industry

by QuantShare, 1533 days ago
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Here is an interesting market breadth indicator that measures market strength by comparing the stocks that are outperforming their industry with stocks that are underperforming it.

The composite is calculated as follows:
- It counts the number of stocks whose 25-bar rate of return is higher than the 25-bar rate of return of their industry group (approximately one-month performance)
- It also counts the number of stocks whose return (25-bar) is lower than the return of their industry group
- It divides, for each trading bar, the number of outperforming stocks by the number of underperforming stocks.
- The composite data is associated with the following ticker symbol: _Industry_Ratio_OutUnd

Basic Interpretation:
An increase in the indicator value indicates that more and more stocks are outperforming their industries than stocks underperforming theirs. This is usually a bullish sign, but be aware of extreme values as this may indicate that a change in the trend direction is likely to occur soon.

This market indicator requires the following trading item:
Industry Market Data: This item downloads industries data (+90 industries)
Industry Index Name: This function associates QuantShare industry names with the above downloader industry names

The following blog post describes in detail how this composite was built: 4 Market Composite Indicators Based on Industry Data


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Type: Composite Index

Object ID: 1223


Country:
United States

Market: Stock Market

Style:
Fundamental Analysis

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