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Strategies & Market Trends : TA-Quotes Plus
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To: Bob Jagow who wrote (5469)7/19/1998 9:06:00 PM
From: Howard R. Hansen  Read Replies (2) of 11149
 
>>Would see if Units works. -Bob<<

Bob, the return units function doesn't work very well when it come to
calculating the number of shares outstanding and market capitalization. I checked shares outstanding and market capitalization for unit values of 0, 3, and 6. I selected 10 stocks for each unit value, but not randomly. My criterion for determining whether the data was in millions or thousands was to compare the market capitalization of the selected stock with the market capitalization of General Electric.

1. When unit value = 0 the shares outstanding returned by the SharesOut function and the market capitalization returned by the MarketCap function was in units of millions for 7 out of 10 stocks and was in units of thousands for 3 out of 10 stocks.

2. When unit value = 3 the shares outstanding returned by the SharesOut function and the market capitalization returned by the MarketCap function was in units of millions for 2 out of 10 stocks and was in units of thousands for 8 out of 10 stocks.

3. When unit value = 6 the shares outstanding returned by the SharesOut function and the market capitalization returned by the MarketCap function was in units of millions for 3 out of 9 stocks and was in units of thousands for 6 out of 9 stocks and 1 stock had no shares outstanding or market capitalization data.

Conclusion: The return units function is not very reliable and until
something better comes along one is better off saying if units equals
3 or 6 shares outstanding and market capitalization data is in thousands. Where as if units equals 0 shares outstanding and market capitalization data is in millions.

This unreliability in the units of market capitalization data really
hurts when one uses market capitalization as a screening criterion.
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