Can someone please help me with measuring range on stocks with different share prices. I'd like to measure things like range from open to high, open to low ranges etc. I can't do it in % gain or $ gain because you can't compare 5% gain on 1$ stock and the same gain on 160$ stock. In this case intraday volatility is much bigger on 160$ stock with 5% gain and same for $ gain. I don't know how to convert it so i can compare these things in excel... Thanks.
Why can you not compare 5% gain on $10/share stock (A) with a 5% gain on a $100/share stock (B)? If you have $10,000 you can buy 1,000 of A or 100 of B. If either goes up 5% you make $500, the same...
Because i want to compare intraday ranges/volatility between two stocks with different share price, not the gain on 10k$ position. Look at 1m chart of NFLX with 1% gain and 1m chart of IAG with 1% gain. It's not the same thing.
Thanks. Could you post the charts and describe what differences you are referring to? Am happy to try to help if I can.
Sure. I know the volatility is not exactly the same, but you can see the difference. and i'd like to know how can i measure it accurately. Obviously neither in % gain nor $/share. Or i just need to convert it somehow. I don't know... IAG NFLX
How about normalising each stock's range by say its 14-day ATR? So take intraday High - Open (say $8) and divide by that stocks 14-day ATR (which is also a $ amount). So the result is a ratio. Then you can compare the two stocks.