Creating my own index

I am interested in creating my "own" DOW 30 index with stocks that are different than the ones that are in the DOW now.

Does there exist a website that will allow me to create and keep track of this, in a somewhat realtime fashion (updating the "index" every minute or so is fine?) Also, an arithmetic weighted index to start out is OK, but it would be nice if I can define the different ways to calculate the index.

I know I can do it in WL and TS6, but I do not currently own WL, and it is a pain in the ass to do this in TS6.

nitro

 

It's kind of a pain, but you could always use Excel and something like QCollector to auto update the Excel at whatever time interval you require.

 

QCollector?

nitro

 

Yeah, http://www.mechtrading.com/.

QCollector downloads data from quote.com or eSignal and stores them in CSV files. It can also update any Excel sheet in real-time.

For example, I have a NN application that currently is only coded in Excel and haven't had time to convert it to a Wealth-Lab COM module yet, so I just run QCollector to update the spreadsheet and grab the value directly from the spreadsheet.

QCollector also supports some other data formats, and is customizable via it's SDK http://www.mechtrading.com/developers/index.htm

 

Are you talking about something like http://www.wealth-lab.com/cgi-bin/WealthLab.DLL/getpage?page=IndexLab.htm. I haven't used it and I am not sure if it works in real time.

 

Nitro is looking for an alternative solution. IndexLab is neat. A few pairs traders are using it.

 

I did it once by just using an online portfolio. I used the closing price for dec 31 as my purchase price, then split up an imaginary 100k portfolio into the various stocks.

So everyday it would give me the ytd percentage change and the daily change.

 

http://www.aiqsystems.com/

 

Datek has a streamer that allows you creating your own index.

 

Thanks for all the useful replies. I will look into all of them.

nitro