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Strategies & Market Trends : TA-Quotes Plus -- Ignore unavailable to you. Want to Upgrade?

To: gonzongo who wrote (5039)	6/30/1998 2:38:00 AM
From: Howard R. Hansen	Read Replies (2) \| Respond to of 11149

>>hopefully I made a dumb mistake- please let mew know Howard.<< Gonzongo, I wouldn't touch that with a 11 foot pole. But here is what I have found out so far about the difference in our results. 1. I compared the PSR value for 10 stocks calculated by Zacks Research Marvel using the 11-2-96 copy of its database against Value Line historical data. The PSR values were consistent. 2. I compared the PSR values for 10 stocks calculated by Zacks Resesrch Marvel using the 5-31-98 copy of the database against the value reported by Quotes Plus Version 2.0 using 6-26-98 data. The PSR values were consistent. 3. The most noticeable difference in the way we calculated PSR I observed were: Zacks used stock prices as of 11-1-96 and sales data for the most recent fiscal year to calculate PSR. In most cases this meant 1995 sales data was being used to calculate PSR in the 11-2-96 version of the Research Marvel database. However, when the fiscal year ended in the middle of the 1996 sales data for the 1996 fiscal year was used. Where as you use 1996 calendar year sales data and I suspect you used 12-31-96 price data. Because for most stocks Zacks used 1995 calendar year sales data you will not be able to duplicate my results. The oldest quarterly sales data Quotes Plus has is for the quarter ending 6-30-95. 4. Most stocks in my test sample of 10 stocks had approximately the same number of shares outstanding in 1995 as they do now. Splits are no problem as Quote Plus adjusts historical stock prices. However, I did run into one odd ball case,Crompton and Knowles. The number of shares outstanding for Crompton and Knowles changes from 48.03 million in 1995 to 74.4 million in 1998. No splits were reported and the price was not adjusted. This means your back test would calculate a PSR 55 percent higher than Zacks. 5. The only other thing that might account for the difference is a different stock universe. If you are interested I could e-mail you a copy of the list of the stocks I used so you can compare the results obtained using the Zacks universe with the Quotes Plus universe. Happy Back Testing, hrh