Pseudo Symbols

Pseudo Symbols

Definition

StockCharts has some “pseudo” symbols that can be used to create inverse charts or automatically add the industry group or sector to a chart. You will not be able to find these in the symbol catalog because they do not correlate to a specific data series.

Details


Symbol Group: Pseudo Symbols

Publisher: StockCharts

Update Frequency: Not applicable

Current Symbols: $ONE, $INDUSTRY, $SECTOR and $SYMBOL 

Chart Examples

The first example uses $INDUSTRY and $SECTOR to show the corresponding industry group and sector for a stock. These symbols change according to the main symbol. The example below shows Apple with DJ US Computer Hardware as the industry group and the Technology SPDR as the sector.

Pseudo Sector Industry

Note that the industry group and sector will automatically change if we change the main symbol to PFE (Pfizer). The industry group would then be DJ US Pharmaceuticals and the sector would be the HealthCare SPDR.

$SECTOR and $INDUSTRY can only be used with stock symbols that are mapped to a sector and industry group. These two pseudo symbols will not work for ETFs or indices. Some of the more obscure stocks are not mapped to a sector and industry group.

Chartists can take $INDUSTRY and $SECTOR one-step further by using $SYMBOL, which will refer to the main symbol on the chart. In the example below, Pfizer is the main symbol and two price relatives were created using $SYMBOL. The first shows Pfizer relative to the industry ($SYMBOL:$INDUSTRY) and the second shows Pfizer relative to the sector ($SYMBOL:$SECTOR). Again, chartists can change the main symbol and these pseudo symbols will follow suit. Change PFE to General Electric (GE) and the two pseudo symbols will automatically change to the corresponding industry and sector (Diversified Industrials for the industry and Industrials for the sector).

Pseudo Symbol

Inverse Charts

Although not a “pseudo” symbol per se, chartists can use $ONE to chart the inverse of another symbol. The example below uses $ONE to create an inverse of the S&P 500 Volatility Index ($VIX). $ONE:$VIX is 1 divided by the value of the S&P 500 Volatility Index. $VIX typically moves inverse to the S&P 500 and some chartists like to use this inverse form.

Pseudo One

Resources

View this Mailbag post for a video explaining how to set up $SECTOR and $INDUSTRY.

View this Mailbag article for an example using $SYMBOL, $SECTOR, and $INDUSTRY.