Custom Formula: using SecAvg

Research
1

Hi
I was trying to create a custom formula using SecAvg and got an error. Does anyone know whether or not SecAvg is supported?

Thanks

2

SecAvg(“formula” [,method,trim,zeroIsNa])

Returns the sector average of the formula

method: [#CapAvg], #Avg
trim: 0-33 default is 16.5
zeroIsNA: [FALSE],TRUE

Ex. To screen for stocks whose 12 month EPS growth is greater than the sector average enter:

EPS%ChgTTM > SecAvg(“EPS%ChgTTM”)

Category
MISC / GROUP

Full Description

Parameter ‘method’:
#CapAvg - the market cap weighted average is calculated (default)
#Avg - simple average of the values

Parameter ‘trim’:
Valid values for trim are 0-33, with a default of 16.5. It represents a % of the valid values to be trimmed off from the top and bottom of the sorted list of values. This eliminates large and small outlier values.

Parameter ‘zeroIsNA’:
When TRUE sets zero values to NA. This is useful for ratios like Yield. Default is FALSE

SecAvg operates as follows:
The formula is evaluated for all stocks in the universe. ADRs are excluded.
The values are sorted and NA’s are eliminated
The array is trimmed by the trim parameter from top/bottom
The average or market cap weighted average is computed

3

Thanks Denny

I was trying to use SecAvg in Custom Formula - and it is not accepting it.

4

It doesn’t seem to be accepted in the simulator. In what vocabulary does this word belong?

Walter

5

[font=courier new]SecAvg[/font] and [font=courier new]IndAvg[/font] were to be implemented as such, but have since been replaced with the more powerful [font=courier new]Aggregate[/font] function.
To compute a sector average, simply specify [font=courier new]#Sector[/font] for the [font=courier new]scope[/font] parameter (e.g. [font=courier new]Aggregate(“EPS%ChgTTM”, #Sector)[/font]).
Their presence in the reference is errant, so I’ve removed them.

6

Thanks - Works nicely in custom formula