Normalized Performance Comparison

6 Haz

This script visualizes the relative performance of a primary asset against a benchmark composed of three reference assets. Here's how it works:

1. User Inputs:
   - Users specify ticker symbols for three reference assets (default: Platinum, Palladium, Rhodium).
   
   
2. Data Retrieval:
   - Fetches closing prices for the primary asset (the one the script is applied to) and the three reference assets.
   
   
3. Normalization:
   - Each asset's price is normalized by dividing its current price by its initial price at the start of the chart. This allows for performance comparison on a common scale.
   
   
4. Benchmark Creation:
   - The normalized prices of the three reference assets are combined to create a composite benchmark.
   
   
5. Ratio Calculation:
   - Computes the ratio of the normalized primary asset price to the combined normalized benchmark price, highlighting relative performance.
   
   
6. Plotting:
   - Plots this ratio as a blue line on the chart, showing the primary asset's performance relative to the benchmark over time.
   

This script helps users quickly assess how well the primary asset is performing compared to a set of reference assets.