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I go to this webpage to get a snapshot of where my funds sit. It's all very technical. After losing -0.64% today, how can this fund show its current direction to be among the top 1% ????? Esp. after falling for several weeks.
Right. But maybe I wasn't clear. The link will take you to a page at Barchart.com which shows DLFNX to be among the TOP 1% in terms of its "direction." The other category is "Strength," and the same metric there shows DLFNX to be in the top 10% in terms of STRENGTH, besides. Just wondering. Seems way out of whack.
My guess is that these metrics are magnitudes, not vectors. That is, they describe the certainty of the direction, but without the direction (+/-). I infer this from the fact that there is no negative direction - the scale goes from 0 to 100, not -100 to 100. Also, note that the overall direction increased (it went from 70-80 to 90-100 as the opinions came closer to a unanimous "sell" recommendation).
FWIW, the definition given by the site for overall direction is:
The direction rating is calculated by adding the different buy signal directions and subtracting the different sell signal directions, then factoring each number by the direction rating of the opinion. Signal strength and signal direction are independent of buy or sell ratings.
Comments
FWIW, the definition given by the site for overall direction is: