Composite Function - Trading Software

Composite Function

allan nathan
2013-03-23 00:02:16

Hi,
I am working with the composite function and Rank/Rank!

rank1=Comp(perf(close, 1),"Rank",1,close>2);

can someone tell me what the 1 following "Rank" and before close >2 does?

I noticed if I remove it the output changes.

Are there other variables one can use as well?

Where could I find an explanation

I will check the CHM docs

Thanks,

Allan

clonex
2013-03-23 07:59:52

Hi,

If im not wrong logic is:
rank by 1 day performance those instruments where close >2

Clonex

QuantShare
2013-03-23 11:03:58

Hi,

The third parameter is used for grouping.

Example:
"1" => means rank all stocks
close > 20 => Rank stocks that have a price higher than 20 separately from stocks that have a price lower or equal to 20

In the last example, you will get two stocks with a rank of "1" and two stocks with a rank of "2"...

Another example:
http://www.quantshare.com/sa-447-fundamental-stock-analysis-rank-stocks-based-on-a-valuation-ratio

allan nathan
2013-03-23 20:27:46

Thanks...I understood the formula except for the grouping,i.e. "1".If I do not include the "1",will it still rank all stocks? Are there any other groupings such as 2,3,4?

Why would I get 2 stocks with a rank of 1,two stocks with a rank of 2?
I am not seeing that in my screen with the formula above.

I understand the difference between RANK and RANK!,but am not following you..

Thanks,

Allan

QuantShare
2013-03-25 10:14:42

QuantShare will rank stocks that have the same group value.

If you put "1" or any other static number/text then all stocks will have the same value (and thus will be placed in the same group). There will be only one group and stocks of this group will be ranked by the application.

If you put something like "industry()" then QuantShare will create several group of stocks (one for each industry) and then it will rank each group individually. If there are 10 industries then you will have ten stocks with a rank of 1.

If you put "Name()" then there will be as many groups as stocks and thus each stock will have a rank value of "1".

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