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TOPIC: Index membership

Index membership 3 months, 2 weeks ago #2747

  • amyers14
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I was trying to create a screen that includes only the S&P 500 Index members. There are two different versions, one labeled S+P 500 and the other being the total return version. However, when I try either one, I don't get 500 stocks (actually, I think right now it should return 513 or something like that). For the first one (S+P 500) I get TWO stocks and for the TR version I get 352 stocks. What gives? Why can I not get all 500+?
Alan

Re: Index membership 3 months, 2 weeks ago #2748

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The issue is that most companies in the S+P 500 are components of multiple indexes. The index membership variable codes them as one string, separated by commas. You can use the advanced screen:

(indexmembership LIKE "%S+P 500%" AND (indexmembership) IS NOT NULL)

That will return 525 results (some S+P 500 companies have multiple share classes). To limit an existing screen's results to S+P 500 constituents, you would convert your basic screen to an advanced screen (by clicking the Advanced Screen tab) and then add:

AND (indexmembership LIKE "%S+P 500%" AND (indexmembership) IS NOT NULL)

to the end.

Re: Index membership 3 months, 2 weeks ago #2749

  • amyers14
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THANKS! That is very helpful. Not intuitive but helpful!
Alan

Re: Index membership 2 weeks, 4 days ago #2751

  • amyers14
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New question. This formula works beautifully to filter the S&P 500 stocks but if I try to save this screen (with just this one variable) it won't save. What gives? I have tried various combinations of naming and none of them seem to save this screen. Help!
Alan

Re: Index membership 2 weeks, 4 days ago #2752

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I am unable to replicate your problem. I copied the advanced screener syntax into the advanced screener and clicked Run Screen. I then clicked Save Screen and saved the screen. To load the screen, you need to go to "Load Advanced Screen" from the Screens menu and select your new screen.

The only thing I can think of is that you may be using an "&" in your screener name, folder, or description. That is a reserved character, and why the text is "S+P500" instead of "S&P500".

Re: Index membership 2 weeks, 4 days ago #2753

  • amyers14
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Actually, the problem was the screen was being saved to essentially a different "folder". I did not realize that essentially there are two folders for screens - load screen and load advanced screen. I see every version of the screen I tried to save with various names in the "Advanced Screen" folder.

Thanks!
Alan
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