The original point of the Dow Jones index was that it was quick and easy to calculate- just add 70 stock prices and go with it.
I think something "quick and easy to calculate" should be high on the list. Come up with our weighting once, use a sloppy guess if we have to, grab 20 or 25 items and roll with it.
It's still going to be a lot of work, probably, but this isn't brain surgery. If it's too damn sloppy, WHO CARES?
For the most part, I agree. The "simple" measure I'm considering atm is to lump
items into particular categories (IO's, Commons, Salvage, Purple/PvP, Inspirations,
and probably Procs/Specialty as a separate category of its own).
Then, using a random generator, select X items from each category (IO's get selected
twice - once for crafted and once for recipes, so we'd have different items) to get
about 20-30 or so items total.
Basic weightings would be relative to the number available to select in each category.
Additionally, ensure a few other key items are in there also (a fair bit of commonality
has shown up in the posted suggestions), and there ya go.
Take a month of averages (to establish a base reference), and we're off to the
races.
The "weighting" issues that do bother me (so far) are volume & price... DJIA has
nowhere near the range of price variance we have (it might be more comparable
if they threw some penny stocks in there). In terms of trade volume, I think
all of theirs are roughly comparable, whereas we have many items that trade a
couple per week along with some that are thousands a day.
For instance, a day's trading of 5000 Luck Charms at 25K per equates to a premier IO
(~125M), so, unlike penny stocks, volume can be significant here, I think.
So, for those two things, I might look at scaling/normalization ideas to smooth
those extreme ranges a bit.
In the meantime, we haven't had an indicator in the past, so there's no need to rush.
Additionally, with I-22's release, and 2XP right around the corner, using current
numbers (over the next couple weeks) might give us a pretty skewed reference
from the get-go...
I'd rather let things settle at least a little from release, so the extra time to think
the process through is probably a Good Thing.
Regards,
4
I've been rich, and I've been poor. Rich is definitely better.
Light is faster than sound - that's why some people look smart until they speak. For every seller who leaves the market dirty stinkin' rich, there's a buyer who leaves the market dirty stinkin' IOed. - Obitus.
Posted
I wonder what the monthly rate of inflation in this game is. It must have been higher than Germany in 1923 at times.
I think something "quick and easy to calculate" should be high on the list. Come up with our weighting once, use a sloppy guess if we have to, grab 20 or 25 items and roll with it.
It's still going to be a lot of work, probably, but this isn't brain surgery. If it's too damn sloppy, WHO CARES?
items into particular categories (IO's, Commons, Salvage, Purple/PvP, Inspirations,
and probably Procs/Specialty as a separate category of its own).
Then, using a random generator, select X items from each category (IO's get selected
twice - once for crafted and once for recipes, so we'd have different items) to get
about 20-30 or so items total.
Basic weightings would be relative to the number available to select in each category.
Additionally, ensure a few other key items are in there also (a fair bit of commonality
has shown up in the posted suggestions), and there ya go.
Take a month of averages (to establish a base reference), and we're off to the
races.
The "weighting" issues that do bother me (so far) are volume & price... DJIA has
nowhere near the range of price variance we have (it might be more comparable
if they threw some penny stocks in there). In terms of trade volume, I think
all of theirs are roughly comparable, whereas we have many items that trade a
couple per week along with some that are thousands a day.
For instance, a day's trading of 5000 Luck Charms at 25K per equates to a premier IO
(~125M), so, unlike penny stocks, volume can be significant here, I think.
So, for those two things, I might look at scaling/normalization ideas to smooth
those extreme ranges a bit.
In the meantime, we haven't had an indicator in the past, so there's no need to rush.
Additionally, with I-22's release, and 2XP right around the corner, using current
numbers (over the next couple weeks) might give us a pretty skewed reference
from the get-go...
I'd rather let things settle at least a little from release, so the extra time to think
the process through is probably a Good Thing.
Regards,
4
I've been rich, and I've been poor. Rich is definitely better.
Light is faster than sound - that's why some people look smart until they speak.
For every seller who leaves the market dirty stinkin' rich,
there's a buyer who leaves the market dirty stinkin' IOed. - Obitus.