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marco
Update engine with new FactSet-only functions

Dear All,

A new engine has been released. To switch to the new engine, click on your picture in the upper right hand corner of this page and select "Current" then pick either "Compustat" or "FactSet".

If you pick "Compustat" & "Use Prelim", you should see no differences with the "Legacy" engine which is still the default.

When you choose "FactSet", you will have access to these new functions:

ConsEstMean (item[, period, weekAgo])
ConsEstHi(item[, period, weekAgo])
ConsEstLow(item[, period, weekAgo])
ConsEstCnt(item[, period, weekAgo])
ConsEstMedian(item[, period, weekAgo])
ConsEstStdDev(item[, period, weekAgo])
ConsEstUp(item[, period, weekAgo])

item: #EPSY, #EPSQ, #EPSNTM, #SALEY, #SALEQ, #EBITDAY, #CAPXY, #FCFY, #LTG, #PT
period: 0-4 (0 is current, 1 is next, etc.)

For example, CurFYEPSMean is equivalent to ConsEstMean(#EPSY, 0) and NextFYEPSMean is equivalent to ConsEstMean(#EPSY, 1).

ConsRec(rec_stat[, weekAgo])

rec_stat: #AvgRec, #RecCnt, #BuyCnt, #OverCnt, #HoldCnt, #UnderCnt, #SellCnt

I will add these to the website reference tomorrow.

I will add some examples as well to this thread tonight.

Thanks

Portfolio123 Staff.

May 20, 2020 5:01:34 PM       
Edit 3 times, last edit by marco at May 20, 2020 5:28:09 PM
Quantonomics
Re: Update engine with new FactSet-only functions

Does that mean "NextFYEPSMean" is deprecated when using New Engine > Facset and we have to adjust any formulas using those for the new functions?

May 22, 2020 11:08:36 AM       
Edit 1 times, last edit by Quantonomics at May 22, 2020 11:09:01 AM
yuvaltaylor
Re: Update engine with new FactSet-only functions

I've made a public screen that exposes the consensus recommendations here: https://www.portfolio123.com/app/screen/summary/242193?mt=1

It's kind of fun to play around with. You'll see the number of analysts that give every company buy, sell, and in-between ratings. I hope someone will find this useful . . .

Yuval Taylor
Product Manager, Portfolio123
invest(igations)
Any opinions or recommendations in this message are not opinions or recommendations of Portfolio123 Securities LLC.

May 22, 2020 11:10:22 AM       
yuvaltaylor
Re: Update engine with new FactSet-only functions

Does that mean "NextFYEPSMean" is deprecated when using New Engine > Facset and we have to adjust any formulas using those for the new functions?


No, we have no plans to deprecate the old factors and functions. These new ones give users a lot more options. I'm especially keen to explore NTM (next twelve months) as a possible alternative to CurFY and NextFY.

Yuval Taylor
Product Manager, Portfolio123
invest(igations)
Any opinions or recommendations in this message are not opinions or recommendations of Portfolio123 Securities LLC.

May 22, 2020 11:22:28 AM       
atw
Re: Update engine with new FactSet-only functions

Hi Yuval,

I think it would be a good idea to keep CurFY and NextFY functions around for a bit. MANY analysts and investors think in terms of this year's numbers whether in the 1st or 4th quarter. Similarly with next years.

With the myriad of changes occurring, I think it would be a mistake to assume the new functions will outperform the old. This is a good example when both could be more meaningful than either.

Hugh

May 22, 2020 3:14:39 PM       
yuvaltaylor
Re: Update engine with new FactSet-only functions

Hi Yuval,

I think it would be a good idea to keep CurFY and NextFY functions around for a bit. MANY analysts and investors think in terms of this year's numbers whether in the 1st or 4th quarter. Similarly with next years.

With the myriad of changes occurring, I think it would be a mistake to assume the new functions will outperform the old. This is a good example when both could be more meaningful than either.

Hugh

I'd like to reiterate that we're NOT planning to deprecate any of the old functions.

Yuval Taylor
Product Manager, Portfolio123
invest(igations)
Any opinions or recommendations in this message are not opinions or recommendations of Portfolio123 Securities LLC.

May 22, 2020 6:37:52 PM       
atw
Re: Update engine with new FactSet-only functions

Thank you, Yuval. My bad - I read your previous post too quickly. Glad to hear that the old standby's will still be around.

Hugh

May 22, 2020 9:20:23 PM       
fatmcb1
Re: Update engine with new FactSet-only functions

Rankings using the new factset engine this morning are including short interest. Does that mean a solution has been identified and implemented? Or is it blending compustat data?

May 23, 2020 7:40:30 AM       
yuvaltaylor
Re: Update engine with new FactSet-only functions

Rankings using the new factset engine this morning are including short interest. Does that mean a solution has been identified and implemented? Or is it blending compustat data?

We are still using Compustat data for the short interest.

Yuval Taylor
Product Manager, Portfolio123
invest(igations)
Any opinions or recommendations in this message are not opinions or recommendations of Portfolio123 Securities LLC.

May 23, 2020 4:02:14 PM       
SpacemanJones
Re: Update engine with new FactSet-only functions

What does the "Cons" in ConsEstMean stand for? thanks,

May 23, 2020 5:52:21 PM       
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