CA2255575A1 - Monitoring device for financial securities - Google Patents
Monitoring device for financial securities Download PDFInfo
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- CA2255575A1 CA2255575A1 CA 2255575 CA2255575A CA2255575A1 CA 2255575 A1 CA2255575 A1 CA 2255575A1 CA 2255575 CA2255575 CA 2255575 CA 2255575 A CA2255575 A CA 2255575A CA 2255575 A1 CA2255575 A1 CA 2255575A1
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- value
- function
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- baseline
- security
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Classifications
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- G—PHYSICS
- G06—COMPUTING; CALCULATING OR COUNTING
- G06Q—INFORMATION AND COMMUNICATION TECHNOLOGY [ICT] SPECIALLY ADAPTED FOR ADMINISTRATIVE, COMMERCIAL, FINANCIAL, MANAGERIAL OR SUPERVISORY PURPOSES; SYSTEMS OR METHODS SPECIALLY ADAPTED FOR ADMINISTRATIVE, COMMERCIAL, FINANCIAL, MANAGERIAL OR SUPERVISORY PURPOSES, NOT OTHERWISE PROVIDED FOR
- G06Q40/00—Finance; Insurance; Tax strategies; Processing of corporate or income taxes
- G06Q40/02—Banking, e.g. interest calculation or account maintenance
-
- G—PHYSICS
- G06—COMPUTING; CALCULATING OR COUNTING
- G06Q—INFORMATION AND COMMUNICATION TECHNOLOGY [ICT] SPECIALLY ADAPTED FOR ADMINISTRATIVE, COMMERCIAL, FINANCIAL, MANAGERIAL OR SUPERVISORY PURPOSES; SYSTEMS OR METHODS SPECIALLY ADAPTED FOR ADMINISTRATIVE, COMMERCIAL, FINANCIAL, MANAGERIAL OR SUPERVISORY PURPOSES, NOT OTHERWISE PROVIDED FOR
- G06Q40/00—Finance; Insurance; Tax strategies; Processing of corporate or income taxes
- G06Q40/04—Trading; Exchange, e.g. stocks, commodities, derivatives or currency exchange
-
- G—PHYSICS
- G06—COMPUTING; CALCULATING OR COUNTING
- G06Q—INFORMATION AND COMMUNICATION TECHNOLOGY [ICT] SPECIALLY ADAPTED FOR ADMINISTRATIVE, COMMERCIAL, FINANCIAL, MANAGERIAL OR SUPERVISORY PURPOSES; SYSTEMS OR METHODS SPECIALLY ADAPTED FOR ADMINISTRATIVE, COMMERCIAL, FINANCIAL, MANAGERIAL OR SUPERVISORY PURPOSES, NOT OTHERWISE PROVIDED FOR
- G06Q40/00—Finance; Insurance; Tax strategies; Processing of corporate or income taxes
- G06Q40/06—Asset management; Financial planning or analysis
Abstract
An apparatus and method for monitoring financial securities markets or financial securities to provide information regarding the status of the financial securities markets or securities. The apparatus (10) comprises sensors (12) for measuring the values of a plurality of parameters associated with the system of interest. The measured values are transferred to a processor (15). Processor (15) comprises an interface (18) for transferring a system profile to a transformer (16). The transformer (16) maps and transforms measured values of more than one parameter using a sigmoid function dependent on at least baseline and critical values of the parameters. The transformer also generates a deviation indicator representing the level of performance associated with each of the parameters. The deviation indicators are then analyzed and displayed on a display unit (22) the status of the financial securities or financial securities.
Description
WO 97/44754 rCl/US97/08578 Mt~ JKI~G DE~ICE FOR FI~JANCIAL 8ECIJRITIE8 FIELD OF Tl~E lNV~iN~ ON
The present invention relate~ generally to methods and related apparatus for monitoring and analyzing changes and fluctuations in financial and s c ~cial enterprises. Mo,re part;r~ ~ly, the present invention relates to a system for the monitoring and subsequent analysis of fin~nci~
securities so as to provide a basis for LuLuLe investment or divestiture.
,. .
BP C~GRO~ID OF q~IE lN V l~ ON
Today there is a plethora of computer software ~L~L~~5 which allow for the collection, organization and analysis of data from many different sources and fields of study. Financial institutions in particular rely heavily on computer systems and pLoyL~ms to run the myriad of investment options and strategies for their clients and depositors. The ~LLe..L school of ~ho?~ht enco~ages the investment of one savings into 20 f ~ ~Anci A 1 O~L Lu..ities other than the traditional savings ~ ,o~ . ~he stock market in general has out-performed and provided greater rates of L~Lu~ for money invested than sa~ings ~ L~ over the last 15-20 y~a~
Investment in these types of securities hG~veL
always carries risk be it thro'ugh the dire,ct purchase of a company's stock listed on one of the many markets or t~rough the ~u~ ase of mutual funds and/or money market shares. Prudent investment in these areas requires the ability to analyze carefully how a company or financial market has performed in the past and its expectations for the fu~uLe. In this ~anner one can hope to ~oreca~t what a f~AnC~ A 1 security such as a company's stock or a f~nancial securities WO 97/447s4 PCT/USg7/08578 market will do in order to purchase financial securities or focus on financial securities marke~s that will go ~p in value and provide the greatest rate of return.
Unfortunately, even after care~ul analysis the ability to project the future act~vity and per~ormance of a financial security or financial market is never a sure thing and the investor can only hope these expectations will come to fruition. Nevertheless, lo many fin~n~ planners and creators of investment portfolios try to project the future performance of f~n~n~;~l securities and financial ~ecurity markets with varying results. It would be highly advantageous then, if one could monitor a financial market or financial security and analyze the vast amount of data collected ~herefrom usin~ indicators that would be helpful to an analyst or that analysts employ in trying to project the future performance of that ~arket or security.
Co~upuLer sys~ems for monitoring and analyzing data from physiological and physical sources are known in the ar~. Seismographs for example, are well known sensors ~or the detectio~ of tremors below the earth's crust and this data can be used to predict when and where an earthquake will occur.
United States Patent No. 4,796,639 to Snow et al.
discloses and claims a pulmonary diagnostic system in a computer record~ and stores lung physiology data and ~_ -~es recorded values wi~h expected norms.
30 R~ on the compar~son, the ~ ul~er generates certain values (if so recorded~ as abnormal and the degree of ~h~o~ l;ty as a function of a baseline.
~his can then be used to immediately sense and/or predict pulmonary problems or early signs thereof for preventive treatment.
United States Pa~ent No. 4,834,107 to Warner discloses and claims a non-invasive method for wos7l447s4 PCT~S97108578 deterri~i ng heart-related parameters in patients. The apparatu~ measures a number of physiological changes such as pulse pressure, peripheral resistance, systolic and diastolic pressure, cardiac output and the like. These are then ~ed into a number of mathematical formulae which when computed as a function i~ indicative of the state of the system and when ~hat sy~tem fall~ outside the healthy norm. This can then be used to predict the likelihood of future problems in the patient.
United States Patent No. s,3s5,889 to Nevo et al.
discloses a patient monitoring system which collects and analyzes a plurality of different medical parameters deri~ed from a human subject. Particularly 1~ u~eful in the monitoring of the bodily functions of a patient under anesthesia during surgery, the system monitors the physiological parameters and transforms them into a ~igmoid function indicative of normal and critical levels of that physiological parameter. A
comparison of maximum and ~i~;~t~m function values wi~h a baseline value produces a vital function status indicator which not only provides a reasonable ~ sment of the patient's condition, but also what parameter(s~, if any, are responsible for a patient'~
deteriorating condition.
U.S. Patent No. 5,465,308 to Hutcheson et al.
discloses and claims a pattern r~co~nition ~y~tem comprised of a software program and method for its use which utili 7~ a neural network implementation to recognize the similarity of information received compared to that stored in a da~ha~. Two ~r-n~ional images are ~ub;ected to ~ourier Transformation to yield a power spectrum. From this spectrum, output vectors are generated which are stati~tically analyzed to determine any correlations between known patterns of data stored and that coming in. Whereas the main func~ion is the ma~c~i nq of WO 971447~i4 PCT/US97/08578 facial patterns, other applications are allegedly possible.
~ he above-~escribed systems provide a basic means ~or the ~onitoring of multiple parameters either for S the diagnosis of and ~olution to a problem or for the evaluation of the condition of an entity which, through analysis, reasonably would give one a well founded basis to anticipate possible future changes.
Many other ~uch sy~tems ih control applications exist in the art ~ut none provide the ability to monitor a number of parameter~ which can be transformed into a ~ingle indicator for use in projecting performance of specific Pinancial securities or financial securities mar~e~s.
In light of the above, it would be advantageous to provide an apparatus and method for monitoring a security or f inancial market wherein an overwhelmingly large amount of data is con~olidated to provide the user with a manageable amount of information from which he could better assess the condition of a security or ~inancial market. Preferably, the apparatus and method i~ responsive to the-par~io~ ~ities of the user and the ~pecific security or ~i~Ancial market being monitored. In addition, the apparatus and method should be rapid enough to pro~ide information in real-time cr at any specified time.
~MM~Y OF ~E lNV~ ON
The ~L e~cnt inYention is a method and apparatu~
for use thereby that enables the monitoring and analysi~ of f; "~n~i A ~ ~ecurities markets and related forums. F~n~n~~ market changes are monitored by the collection and or~n;~-~tion of data from multiple parameters for each market segment. Within each segment, the current trading status of a financial ~ecuritie~ market or financial ~ecurity ~uch a~ a ~ny ~tock, mutual fund shares and commodities WO 97/44754 P(;17~)~i97/08578 futures, may be deduced and the ~tatus used by analysts to project ~rom a number of security index values or parameters which are considered within specified boundaries with respect to a baseline value.
In this manner, the system can monitor multiple data elements either horizontally, i.e., same parameter~
for different financial securities or vertically, different elements within the same ~ecurity making up a financial securities market.
The status indicator is then presented to the user in a form which conveniently conveys information a~out signi~icant changes contri~uting to the condition of a security or financial market. Based on the indicator, the user can take appropriate action concerning investments in the security or financial markets .
BRIEF DE~;CRIPT:~:ON OF q~NE l)R~TNG8 The foregoing summary, as well as the following detailed description of the preferred embodiments of the present invention, will be better understood when read in conjunction with the accompanying drawings, in which:
Fig. 1 is a schematic representation of an apparatus for monitoring a Gystem in accordance with the present invention;
~ig. 2 is a flow chart ~howing the steps involved in a method for monitoring a system in accordance with ~he present invention;
Fig. 3 i~ a flow chart showing the steps involved in transformation step 54 of Fig. 2~
Fig. ~ is a flow chart showin~ the steps involved in comparison step 61 of Fig. 2;
Fig. S is a view of a disp7ay in accordance with the present invention for monitoring any one of a number of financial securities indices indicating the performance of the group of securities of interest.
W097/447~ PCT~S97/08578 Fig. 6 is a view of the display in Fig. 5 wherein a second group of f inancial indices i~ shown indicating the performance of three specific stocks.
PE~AILED DE8CRIPTION OF THE ~Nv~ ON
It ha~ been determined that there is a specific reciprocal relationship between the entire financial market, a specific market segment (e.g., blue chip, utilities~ and the indi~idual company. ~his relationship is not always linear and/or in the same direction. In a stock market, for example, one company may thrive notwithstanding an overall downturn in the market as a whole.
The security index values that provide the basis for monitoring a particular stock or mutual fund and allow for the projected performance thereof are those generally repoxted in the financial sections of major new~papers and busines~ journals. Preferably, the stock ;~d~x value will be one *rom the New York Stock Exchange ('INYSE''), the American Stock Exchange, the NASDAQ National market or the Mutual Funds Listings.
Foreign stock exchanges, currency exchanges, stock fuL~res, precious metals, the bond ma~ket and other ~écurities could al~o be monitored using the method and ~ystem of the presént invention but ~he aforementioned four stock exchanges or ~inancial securities markets are the most well known measures o~
corporate viability.
If the security of interest i8 an issue of common stock from ~he New York Stock ~rh~e~ the security index values monitored may be, but are not limited to, one or a number of the following:
1) dividend values, defined a~ the annual rate of the monetary value of the cash dividend based upon the last payment;
2j the yield, which iG the annual di~idend rate, expressed as a percentage of the closing price;
w097/44754 PCT~S97/08578 3) the price to earnings ratio (P/E) which measures the value of the share price divided by the earnings per share;
4) the sales volume index which ~hows the number of ~hares of stock traded during the previous day; and 5) the Hi-Lo values given are for the highest and lowest stock prices traded that day.
6) the dividend index for each listing which reports the annual rate of cash payment made to shareholders based on the last dividend; and 7) the sales volume which indicate~ the number of shares sold or traded the previous trading day.
~he last re~erenced value for any security index or financial market, may be used as a reference to generate a deviation indicator which represents the level of deviation associated with the last referenced va}ue.
The method for calculating the status values of a ~toc~ on the American Stock Exchange, is much the same as those reported for each daily trading period on the NYSE. These values can be analyzed and used as individual Yalues or any number of them can be transformed to a number of deviation indicators thus giving a broader, better picture of the present and expected performance of the stock.
These stoc~ index values may be monitored and performance analyzed over a wide variety of time periods such as shorter periods of ~con~, minutes, hours, or days to longer periods of a year or more.
Ob~iously, ~he longer a period is monitored ~he more reliable the analysis should be.
A particular mutual fund's performance can also be monitored using the method of the present invention. A group of funds can be analyzed simultaneously as well. Useful fund indices that can rcT/uss7/oss7s Wog7/447s4 be substituted into the equation may include the expense ratio which is the percentage of the fund's average net as~ets that are spent on operating expenses or costs. Another stock index is the net asset value (NAV) which indica~es the value of securities and cash in the Pund di~ided by ~he number of shares in the fund. A third and perhaps most important index to monitor is the daily change in net asset ~alue of the fund ~eported from one day to the next.
Types of financial securities can be analyzed and f~Lu,e performance projected based upon the type of security involved. Blue chip funds can be compared with the performance of bond funds or utilities 1~ stocks. Science and technology portfoiios can be analyzed with regard to expected pexformance versus small cap funds and/or pharmaceutical stocks. The variety of analysis that can be carried out using the method of the present invention is limitless providing that each security index i~ transformed and compared to the prescribed sequence of reference values as set ~orth ~elow. Under such conditions, the analysis can be carried out in a consistently accurate and timely ~ashion. T~is capacity for accurate and rapid~5 analy~is a~ists the u~er in evaluating r~le ~l perforr~nc~ of the stock market.
~ he ~ecurity index values or fin~nciA~ parameters (~he terms will be used interchangeably herein) which may serve as the studied para~eters include, but are no~ limited to:
1) Current trade ~alue (for the specific ~tock, commodity fuL~L-es, currencies, etc.);
The present invention relate~ generally to methods and related apparatus for monitoring and analyzing changes and fluctuations in financial and s c ~cial enterprises. Mo,re part;r~ ~ly, the present invention relates to a system for the monitoring and subsequent analysis of fin~nci~
securities so as to provide a basis for LuLuLe investment or divestiture.
,. .
BP C~GRO~ID OF q~IE lN V l~ ON
Today there is a plethora of computer software ~L~L~~5 which allow for the collection, organization and analysis of data from many different sources and fields of study. Financial institutions in particular rely heavily on computer systems and pLoyL~ms to run the myriad of investment options and strategies for their clients and depositors. The ~LLe..L school of ~ho?~ht enco~ages the investment of one savings into 20 f ~ ~Anci A 1 O~L Lu..ities other than the traditional savings ~ ,o~ . ~he stock market in general has out-performed and provided greater rates of L~Lu~ for money invested than sa~ings ~ L~ over the last 15-20 y~a~
Investment in these types of securities hG~veL
always carries risk be it thro'ugh the dire,ct purchase of a company's stock listed on one of the many markets or t~rough the ~u~ ase of mutual funds and/or money market shares. Prudent investment in these areas requires the ability to analyze carefully how a company or financial market has performed in the past and its expectations for the fu~uLe. In this ~anner one can hope to ~oreca~t what a f~AnC~ A 1 security such as a company's stock or a f~nancial securities WO 97/447s4 PCT/USg7/08578 market will do in order to purchase financial securities or focus on financial securities marke~s that will go ~p in value and provide the greatest rate of return.
Unfortunately, even after care~ul analysis the ability to project the future act~vity and per~ormance of a financial security or financial market is never a sure thing and the investor can only hope these expectations will come to fruition. Nevertheless, lo many fin~n~ planners and creators of investment portfolios try to project the future performance of f~n~n~;~l securities and financial ~ecurity markets with varying results. It would be highly advantageous then, if one could monitor a financial market or financial security and analyze the vast amount of data collected ~herefrom usin~ indicators that would be helpful to an analyst or that analysts employ in trying to project the future performance of that ~arket or security.
Co~upuLer sys~ems for monitoring and analyzing data from physiological and physical sources are known in the ar~. Seismographs for example, are well known sensors ~or the detectio~ of tremors below the earth's crust and this data can be used to predict when and where an earthquake will occur.
United States Patent No. 4,796,639 to Snow et al.
discloses and claims a pulmonary diagnostic system in a computer record~ and stores lung physiology data and ~_ -~es recorded values wi~h expected norms.
30 R~ on the compar~son, the ~ ul~er generates certain values (if so recorded~ as abnormal and the degree of ~h~o~ l;ty as a function of a baseline.
~his can then be used to immediately sense and/or predict pulmonary problems or early signs thereof for preventive treatment.
United States Pa~ent No. 4,834,107 to Warner discloses and claims a non-invasive method for wos7l447s4 PCT~S97108578 deterri~i ng heart-related parameters in patients. The apparatu~ measures a number of physiological changes such as pulse pressure, peripheral resistance, systolic and diastolic pressure, cardiac output and the like. These are then ~ed into a number of mathematical formulae which when computed as a function i~ indicative of the state of the system and when ~hat sy~tem fall~ outside the healthy norm. This can then be used to predict the likelihood of future problems in the patient.
United States Patent No. s,3s5,889 to Nevo et al.
discloses a patient monitoring system which collects and analyzes a plurality of different medical parameters deri~ed from a human subject. Particularly 1~ u~eful in the monitoring of the bodily functions of a patient under anesthesia during surgery, the system monitors the physiological parameters and transforms them into a ~igmoid function indicative of normal and critical levels of that physiological parameter. A
comparison of maximum and ~i~;~t~m function values wi~h a baseline value produces a vital function status indicator which not only provides a reasonable ~ sment of the patient's condition, but also what parameter(s~, if any, are responsible for a patient'~
deteriorating condition.
U.S. Patent No. 5,465,308 to Hutcheson et al.
discloses and claims a pattern r~co~nition ~y~tem comprised of a software program and method for its use which utili 7~ a neural network implementation to recognize the similarity of information received compared to that stored in a da~ha~. Two ~r-n~ional images are ~ub;ected to ~ourier Transformation to yield a power spectrum. From this spectrum, output vectors are generated which are stati~tically analyzed to determine any correlations between known patterns of data stored and that coming in. Whereas the main func~ion is the ma~c~i nq of WO 971447~i4 PCT/US97/08578 facial patterns, other applications are allegedly possible.
~ he above-~escribed systems provide a basic means ~or the ~onitoring of multiple parameters either for S the diagnosis of and ~olution to a problem or for the evaluation of the condition of an entity which, through analysis, reasonably would give one a well founded basis to anticipate possible future changes.
Many other ~uch sy~tems ih control applications exist in the art ~ut none provide the ability to monitor a number of parameter~ which can be transformed into a ~ingle indicator for use in projecting performance of specific Pinancial securities or financial securities mar~e~s.
In light of the above, it would be advantageous to provide an apparatus and method for monitoring a security or f inancial market wherein an overwhelmingly large amount of data is con~olidated to provide the user with a manageable amount of information from which he could better assess the condition of a security or ~inancial market. Preferably, the apparatus and method i~ responsive to the-par~io~ ~ities of the user and the ~pecific security or ~i~Ancial market being monitored. In addition, the apparatus and method should be rapid enough to pro~ide information in real-time cr at any specified time.
~MM~Y OF ~E lNV~ ON
The ~L e~cnt inYention is a method and apparatu~
for use thereby that enables the monitoring and analysi~ of f; "~n~i A ~ ~ecurities markets and related forums. F~n~n~~ market changes are monitored by the collection and or~n;~-~tion of data from multiple parameters for each market segment. Within each segment, the current trading status of a financial ~ecuritie~ market or financial ~ecurity ~uch a~ a ~ny ~tock, mutual fund shares and commodities WO 97/44754 P(;17~)~i97/08578 futures, may be deduced and the ~tatus used by analysts to project ~rom a number of security index values or parameters which are considered within specified boundaries with respect to a baseline value.
In this manner, the system can monitor multiple data elements either horizontally, i.e., same parameter~
for different financial securities or vertically, different elements within the same ~ecurity making up a financial securities market.
The status indicator is then presented to the user in a form which conveniently conveys information a~out signi~icant changes contri~uting to the condition of a security or financial market. Based on the indicator, the user can take appropriate action concerning investments in the security or financial markets .
BRIEF DE~;CRIPT:~:ON OF q~NE l)R~TNG8 The foregoing summary, as well as the following detailed description of the preferred embodiments of the present invention, will be better understood when read in conjunction with the accompanying drawings, in which:
Fig. 1 is a schematic representation of an apparatus for monitoring a Gystem in accordance with the present invention;
~ig. 2 is a flow chart ~howing the steps involved in a method for monitoring a system in accordance with ~he present invention;
Fig. 3 i~ a flow chart showing the steps involved in transformation step 54 of Fig. 2~
Fig. ~ is a flow chart showin~ the steps involved in comparison step 61 of Fig. 2;
Fig. S is a view of a disp7ay in accordance with the present invention for monitoring any one of a number of financial securities indices indicating the performance of the group of securities of interest.
W097/447~ PCT~S97/08578 Fig. 6 is a view of the display in Fig. 5 wherein a second group of f inancial indices i~ shown indicating the performance of three specific stocks.
PE~AILED DE8CRIPTION OF THE ~Nv~ ON
It ha~ been determined that there is a specific reciprocal relationship between the entire financial market, a specific market segment (e.g., blue chip, utilities~ and the indi~idual company. ~his relationship is not always linear and/or in the same direction. In a stock market, for example, one company may thrive notwithstanding an overall downturn in the market as a whole.
The security index values that provide the basis for monitoring a particular stock or mutual fund and allow for the projected performance thereof are those generally repoxted in the financial sections of major new~papers and busines~ journals. Preferably, the stock ;~d~x value will be one *rom the New York Stock Exchange ('INYSE''), the American Stock Exchange, the NASDAQ National market or the Mutual Funds Listings.
Foreign stock exchanges, currency exchanges, stock fuL~res, precious metals, the bond ma~ket and other ~écurities could al~o be monitored using the method and ~ystem of the presént invention but ~he aforementioned four stock exchanges or ~inancial securities markets are the most well known measures o~
corporate viability.
If the security of interest i8 an issue of common stock from ~he New York Stock ~rh~e~ the security index values monitored may be, but are not limited to, one or a number of the following:
1) dividend values, defined a~ the annual rate of the monetary value of the cash dividend based upon the last payment;
2j the yield, which iG the annual di~idend rate, expressed as a percentage of the closing price;
w097/44754 PCT~S97/08578 3) the price to earnings ratio (P/E) which measures the value of the share price divided by the earnings per share;
4) the sales volume index which ~hows the number of ~hares of stock traded during the previous day; and 5) the Hi-Lo values given are for the highest and lowest stock prices traded that day.
6) the dividend index for each listing which reports the annual rate of cash payment made to shareholders based on the last dividend; and 7) the sales volume which indicate~ the number of shares sold or traded the previous trading day.
~he last re~erenced value for any security index or financial market, may be used as a reference to generate a deviation indicator which represents the level of deviation associated with the last referenced va}ue.
The method for calculating the status values of a ~toc~ on the American Stock Exchange, is much the same as those reported for each daily trading period on the NYSE. These values can be analyzed and used as individual Yalues or any number of them can be transformed to a number of deviation indicators thus giving a broader, better picture of the present and expected performance of the stock.
These stoc~ index values may be monitored and performance analyzed over a wide variety of time periods such as shorter periods of ~con~, minutes, hours, or days to longer periods of a year or more.
Ob~iously, ~he longer a period is monitored ~he more reliable the analysis should be.
A particular mutual fund's performance can also be monitored using the method of the present invention. A group of funds can be analyzed simultaneously as well. Useful fund indices that can rcT/uss7/oss7s Wog7/447s4 be substituted into the equation may include the expense ratio which is the percentage of the fund's average net as~ets that are spent on operating expenses or costs. Another stock index is the net asset value (NAV) which indica~es the value of securities and cash in the Pund di~ided by ~he number of shares in the fund. A third and perhaps most important index to monitor is the daily change in net asset ~alue of the fund ~eported from one day to the next.
Types of financial securities can be analyzed and f~Lu,e performance projected based upon the type of security involved. Blue chip funds can be compared with the performance of bond funds or utilities 1~ stocks. Science and technology portfoiios can be analyzed with regard to expected pexformance versus small cap funds and/or pharmaceutical stocks. The variety of analysis that can be carried out using the method of the present invention is limitless providing that each security index i~ transformed and compared to the prescribed sequence of reference values as set ~orth ~elow. Under such conditions, the analysis can be carried out in a consistently accurate and timely ~ashion. T~is capacity for accurate and rapid~5 analy~is a~ists the u~er in evaluating r~le ~l perforr~nc~ of the stock market.
~ he ~ecurity index values or fin~nciA~ parameters (~he terms will be used interchangeably herein) which may serve as the studied para~eters include, but are no~ limited to:
1) Current trade ~alue (for the specific ~tock, commodity fuL~L-es, currencies, etc.);
2~ Volume o~ shares traded (for the specific company);
3s 3~ Stock market indices, such as Do~-Jones, NASDAQ Composite, S&P 500, Which are pro~ided (for the entire stock market, and for the specific g market segment). Each index re~lect~ an aggregate value ~or a fixed num~er of companies and reflects the trend of the stock market;
4) Ask value;
s~ Bid value;
6) Price/Earnings ratio;
7) Specific (or general) announcements for the market which do not have a monetary or any specific numerical value. They are used as triggers ~or transactions or flags to understand them;
8) Closing value (for the individual Co.) which is set at the closin~ of the exchange and is, or may be, used as a reference for the next day'~
transactions;
9) Opening value (for the individual Co.~
which is set at the opening of the eYc~ge and is, or may be, used as a reference for the same day's transactions;
10~ High/low values o~ trades;
11) ~c-h~n~e index (e.g., commodities futures, etc.~;
12) Total volume of shares traded for the entire market and each security and/or stock;
13) The monetary value o~ all the stoc~s ~raded; and 14) Commercial performance of the indi~idual stock. These include a (large) set of data (i.e., sales, earnings).
According to the present invention, the indiv~ ~t~ y measured ~i ~Anai n 1 parameters are trans~ormed to normalized data that can be used ~y the ~ystem to generate the security's performance indicator (SPI~. In addition, the transformation is relatively simple to carry out.
Thu~, the security performance indicator (SPI) can be calculated on-line, in real time. Further, the transformation can be carried out dep~n~inq upon the ~ocus o~ the particular analyst.
Referring now to Figure 1, a system lo ~or monitoring a financial market in accordance with the present invention is ~hown schematically. The system S lo comprises ~hree sensors operatively connected to the system ~or measuring the values of three separate parameters associa~ed with that system. However, the number and types of sensors 12 used will vary, depAn~in~ upon the specific application.
Accordingly, the sensors lZ can comprise physical sensors or logical sensors, such as monitors, ~or measuring the values of a plurality of parameter~
associated with the system of interest. The sensor may ~e a component of a remote sensing station.
Accordingly, the sensor can supply measured values to the remote sensing station in eit~er a continuous mode or on demand. Further, the sensor or the remote censing station may be provided with data storage means, ~uch as a computer readable disk, for storing the values measured by the sensor so that the values can be processed a~ a later time.
The measured values of the parameter~ are then trans~erred to a processor lS across one or more ~qn~7 lines 14. In one embodiment, the monitors 12 are interfaced to the processor lS using a data communication link. The pro~e~or 15 can comprise a single ~tand-alone un~t or it can be linked ~o a network using client/server archi~ctl-~e. In one embodiment, the pr~c~ r lS comprises a PC Pentium desktop pla~orm using UNIX or Window~ NT operating system. ~urther, the processor 15 is developed as an object oriented imple~entation in the C+~ language.
The proc~o~ 15 uses an Ethernet Network card and runs TCP/IP co ...ication protocol. Cables or wireless communication devices are used ~or the network connectivity.
The processor 15 optionally comprises a user WO ~7/44754 PCT/US97/08578 interface 18 for transferring a system profile to the transformer 16 across a signal line 14. Preferably, the user interface 1~ is in the form of a computer keyboard so that the user can directly input S information to the ~ransformer 16. Accordingly, the user interface 18 can be developed using an OSF/MOTIF
Toolkit. Alternatively, the system profile can be stored in a form which can be accessed by the transformer 16. The system pro~ile supplied to the transformer 16 comprises in~ormation about the baseline, minimum, and ~Xirtlm values of each of the parameters. Identifying information about a system (i.e., system type, user's name, identification number, time, date, etc.) can also be provided.
The processor 15 also comprises a transformer 16 which takes the measured value~ of each financial parameter and generates a deviation indicator for each parameter. The transformer 16 assigns to each financial parameter a deviation indicator which represents the level of per~ormance assQciated with the parameter. In one embodiment, eac~ financial parameter is assigned one of six levels of performance, ranging ~rom zero to five according to the following scale:
0 - (color of display backyLGu~) No deviation ~rom ~eli~
1 - (white-yellow) Little movement ~rom ba~ ne 2 - (yellow) Some dev~ation from h~l jn~
3s 3~ Stock market indices, such as Do~-Jones, NASDAQ Composite, S&P 500, Which are pro~ided (for the entire stock market, and for the specific g market segment). Each index re~lect~ an aggregate value ~or a fixed num~er of companies and reflects the trend of the stock market;
4) Ask value;
s~ Bid value;
6) Price/Earnings ratio;
7) Specific (or general) announcements for the market which do not have a monetary or any specific numerical value. They are used as triggers ~or transactions or flags to understand them;
8) Closing value (for the individual Co.) which is set at the closin~ of the exchange and is, or may be, used as a reference for the next day'~
transactions;
9) Opening value (for the individual Co.~
which is set at the opening of the eYc~ge and is, or may be, used as a reference for the same day's transactions;
10~ High/low values o~ trades;
11) ~c-h~n~e index (e.g., commodities futures, etc.~;
12) Total volume of shares traded for the entire market and each security and/or stock;
13) The monetary value o~ all the stoc~s ~raded; and 14) Commercial performance of the indi~idual stock. These include a (large) set of data (i.e., sales, earnings).
According to the present invention, the indiv~ ~t~ y measured ~i ~Anai n 1 parameters are trans~ormed to normalized data that can be used ~y the ~ystem to generate the security's performance indicator (SPI~. In addition, the transformation is relatively simple to carry out.
Thu~, the security performance indicator (SPI) can be calculated on-line, in real time. Further, the transformation can be carried out dep~n~inq upon the ~ocus o~ the particular analyst.
Referring now to Figure 1, a system lo ~or monitoring a financial market in accordance with the present invention is ~hown schematically. The system S lo comprises ~hree sensors operatively connected to the system ~or measuring the values of three separate parameters associa~ed with that system. However, the number and types of sensors 12 used will vary, depAn~in~ upon the specific application.
Accordingly, the sensors lZ can comprise physical sensors or logical sensors, such as monitors, ~or measuring the values of a plurality of parameter~
associated with the system of interest. The sensor may ~e a component of a remote sensing station.
Accordingly, the sensor can supply measured values to the remote sensing station in eit~er a continuous mode or on demand. Further, the sensor or the remote censing station may be provided with data storage means, ~uch as a computer readable disk, for storing the values measured by the sensor so that the values can be processed a~ a later time.
The measured values of the parameter~ are then trans~erred to a processor lS across one or more ~qn~7 lines 14. In one embodiment, the monitors 12 are interfaced to the processor lS using a data communication link. The pro~e~or 15 can comprise a single ~tand-alone un~t or it can be linked ~o a network using client/server archi~ctl-~e. In one embodiment, the pr~c~ r lS comprises a PC Pentium desktop pla~orm using UNIX or Window~ NT operating system. ~urther, the processor 15 is developed as an object oriented imple~entation in the C+~ language.
The proc~o~ 15 uses an Ethernet Network card and runs TCP/IP co ...ication protocol. Cables or wireless communication devices are used ~or the network connectivity.
The processor 15 optionally comprises a user WO ~7/44754 PCT/US97/08578 interface 18 for transferring a system profile to the transformer 16 across a signal line 14. Preferably, the user interface 1~ is in the form of a computer keyboard so that the user can directly input S information to the ~ransformer 16. Accordingly, the user interface 18 can be developed using an OSF/MOTIF
Toolkit. Alternatively, the system profile can be stored in a form which can be accessed by the transformer 16. The system pro~ile supplied to the transformer 16 comprises in~ormation about the baseline, minimum, and ~Xirtlm values of each of the parameters. Identifying information about a system (i.e., system type, user's name, identification number, time, date, etc.) can also be provided.
The processor 15 also comprises a transformer 16 which takes the measured value~ of each financial parameter and generates a deviation indicator for each parameter. The transformer 16 assigns to each financial parameter a deviation indicator which represents the level of per~ormance assQciated with the parameter. In one embodiment, eac~ financial parameter is assigned one of six levels of performance, ranging ~rom zero to five according to the following scale:
0 - (color of display backyLGu~) No deviation ~rom ~eli~
1 - (white-yellow) Little movement ~rom ba~ ne 2 - (yellow) Some dev~ation from h~l jn~
3 - (orange-yellow) Greater deviation from baseline 4 - (orange~ Considerable deviation from baseline ~
S - (red) Maximum deviation from baseline Accordingly, the transformer maps each parameter into numbers representing the state of each parameter relative to the system's baseline conditions and to prescribed maximum and minimum re~erence value~ for each parameter.
PCT~S97/08578 W097/447~4 The individual deviation indicators are then transferred across a ~ignal line 14 to a comparator 20. ~he comparator 20 compares the ~alues of the deviation indicators to one another and generates one or more ~tatus indicators. The statu~ indicators contain information regarding the overall status of the financial security system of interest.
A display unit 22 is provided for communicating the financial status indicator~ to the user. The display unit 22 is connected ~o the co~ator 20 by a signal line 14 which allows the status indicators to ~e passed ~rom the comparator 20 to the display unit 22. Preferably, the display unit 22 com~rises a video ~onitor so that the financial status indicators can be visually displayed in a form that is easily analyzed by the user. Optionally, an audio-signal indicator is al~o generated that has di~ferent sound6 for each level of deviation.
The present invention also relates to a method ~or monitoring a financial security or financial ~ecurities market as depicted in Figure 2. According to the method, a security index value profile is generated at step 50. The user is given an option of e$ther creat~ng a new security index value profile or 25 reçnl 1 ~n~ an old one. ~f a new profile is to be created, the user inputs ~he information regarding the r?~ity index profile for the ~inancial securities or ~nancial secur~ties markets to be monitored. For many applications, such information includes a bas~ ~n~, a minimum, and a maximum ~alue for each ~ ~ity index value. I~, however, an old jn~e~
profile i5 to be used, the user is preferably given an option to adjust the exi~ting security index profile.
The ~ethod of the present invention allows the user to tailor the index profile to the individual characteristics of the security index value to be analyzed.
CA 02255575 l998-ll-l8 WO. 97/44754 PCTIUS97/V8578 Once the security index prof ile ha~ been generated, the individual security index values are measured, as shown at step 52. The number of security index values measured will vary from application to application. However, the method of the present invention is completely applicable to the measurement of any number of ~ecurity index values.
At step 54 the measured value of each security index value or parameter is transformed to yield a lo deviation indicator for each financial parameter. The measured values are mapped into a corresponding deviation indicator using a transformation function.
In a preferred form the function is asy~metric about the financial baseline value. In one embodiment, the tran~formation is a function which exhibits a ~;mll~
censitivity for deviations C7 ose to the baseline value of the parameter, such as a sigmoid function.
~owever, the present invention can also be practiced using transformation ~unctions which exhibit a ~inir-lr sensitivity ~or deviations close to the baseline value of ~he parameter.
The process for transforming each measured value into a deviation indicator, step 54, is shown in greater detail in ~igure 3. A mapped parameter is generated for each financial parameter at step 55.
The form of the mapped parameter is determined by the function used to effectuate ~he transfcrmation. The mapped parameter reflects the information regarding each parameter which was generated as part of the ~y~tem profile at ~tep 50. Preferably, the mapped parameter is different for values of the parameter above the financial h~l ine value and below the baseline value.
once the value of the mapped parameter has been determined, the mapped value of the parameter i~
generated at step 57. The mapped value i~ generated using the transformation function and the appropriate WO 97/44754 PCT/US97/08~;78 value for the mapped parameter.
The mapped value of each financial parameter is then used to g~nerate the deviation indicator ~or each parameter at step 5~. The deviation indicator is determined by assigning ~o each parameter a level of deviation as~ociated'with the parameter. Pre~erably, the higher the mapped value, the higher the level of deviation. As stated before, each mapped value is preferably assigned one o~ six levels of performance, 0 ranging from zero to five according to the ~ollowing scale:
o - (color of display background) No deviation from baseline 1 - (white-yellow) Little movement ~rom ~aseline 2 - ~yellow) Some deviation from baseline 3 - (orange-yellow) Greater deviation from baseline 4 - (orange) Considerable deviation from baseline 5 - (red) ~xi~1~ deviation from baseline In one particular embodiment, the transformation is based on ~he well known sigmoid function. Baseline values ~hat may ~e used Por the purpose oP this i..~enLion include, but are not limi~ed to, the security's closing price, the security's opening 2S price, its year to date average price, its year ~o date high and/or low price, etc. The security analyst i8 free to select any baseline value of interest.
This baseline value can be recei~ed directly ~rom the ~inancial market or from hardware storage media.
Alternatively, the baseline value can be directly entered by ~he operator. However, the transformation is identically performed for all parameters; only the baseline and maximum and minimum values are changed.
The ~inancial analysts are given the option to either create a new stock profile or to recall an old one. To apply the func~ion, there is a need to use three parameters; the baseline value, the in~mum PCI~/US97/08578 WO 97/~4754 -- 15 value and the maximum value.
The ~i n i rll~ and ma~i- ~r values may be ~et according to the stockls previous day's values. For example, for current traded stock value, the ~ini~um and ma~;~m values utilize the previous day'~ low and high stock value~, re~pectively. These values may be user defined. Baseline values are mapped to a value of O.S. When the parameter (e.g., stock value) goes above the baseline value, it i8 mapped to a value above 0.5 and below 1.0; values below baseline are mapped to values below 0.5 and above 0Ø
Thus, the transformation maps the parameter or stock index value (parameter and stock index value are used interchangeably) of the stock into numbers representing the state of each parametër relative to the stock's condition and to prescribed maximum, minimum, and baseline reference values for each parameter.
The basic equation for the sigmoid function employed in this embodiment is as follows:
f(X) l ~ e~~
where BL i~ the baseline value for parameter x of the stock of interest x for which the function f(x~ is equal to 0.5 when x = BL (in general, it i5 preferable ~o choose the midrange of the sigmoid function as the h~~l in~) . The parameter G i~ determined on the basi~
of the de~ired value o~ f(x) for ~ome other value of x. G is determined with the equation:
--ln f (x) -- 1 (x -- BL) According to one embodiment of the precent invention, the value of G for all functional value~
PCT/US9~/08$78 below baseline and the value of G ~or all functional values above the baseline are derived by setting x equal to its minimum and maximum values, respectively, and mapping these values to values for f(x) of 0.1 and 0-9- tThere will only be one value of ~ if the baseline value is centered between the maximum (xm~) and minimum (xm~) values). For any parameter x, the ~i~um and minimum values are typically known.
Therefore, given the baseline value BL of any parameter, the following values are determined:
-ln 0.1 ~ 1 G~
(X""~ -- BL) -ln 0.9 - 1 2 0 GhiCh (X,~ BL~
Accordingly, G~ and G~b may be determined and thereafter used to determine the value o~ f(x) in real time in accordance with the followi~g equations:
(X) 5 1 ~or X < BL
1 ~ e~-~4 ~(XJ = 1 ~ 1 ".~." . J ~or X > BL
A si ; 1A~ transformation may be performed upon every parameter measured by the system, since there is a corresponding value of G~, GbUb and BL for every parameter.
The values o~ f(x) for each parameter x is then used to generate the deviation indicator for each parameter using an equation of the form:
WO 97/44754 PCr/US97108578 DI = LK X Abs (y - o~s)~
wherein DI represents the deviation indicator, ~bs represents absolute values, K represents a constant, y represents the value of the function, and " L ¦ ~
represents a floor function that returns the largest integer value of an expression contained between the "L" and the "~" symbols.
The u~e of the sigmoid function as described lo above provides several advantages. First, the transformation pro~ides ~im~lm sensiti~ity (or gain) for parameter values (x) near the parameter's baseline value. Therefore, the value of f(x~ will change most rapidly when the measured ~alue of parameter x first begins to move away from the ba~eline value and will change-least rapidly when the value of the parameter is far away from its baseline value~ In addition, the data needed to calculate or recalculate the transformed data can be easily and quickly determined.
The system may advan~ageously be programmed such that the baseline pro~ile data may be modified on line. In this case, the sys~em will be adaptable to any ~inA~r-ial market, taking into account the market's current environment, and the particular stock involved. The maximum and minimum values could al50 be modified on line.
In another embodiment, the equation used to transform the measured values of the indices ~o the deviation inaicators is of the following form:
y= 3~ {1 - exp(--G(x-BL)2) }
wherein y represents the value of the function, x represents the measured value of the parameter, BL
3s represents the baseline va~ue ~or the parameter, and G
represents the mapping parameter.
The mapping parameter, G, i~ deter~ by WO 97/44754 PCI~/US97108578 solving the above equation. Accordingly, the mapping parameter i~ given by an equation o~ the form:
G= -ln(l - 2y) (x - BL)2 The mapping parameter, G, is t~en solved ~or two ranges o~ the parameter, x. The ~irst range corresponds to values o~ ~x when x<BL and the second range corresponds to values o~ x when x~BL.
Alternatively, the ~irst range corresponds to values o~ x when x5BL and the second range corre~ponds to values of x when x>BL. Accordingly, the two values of the mapping parameter corresponding to the two ranges are given by the ~ollowing equations: ' GkW= -ln(l - 2Y~ ) (xm~ - BL~2 and G~h= -ln(1 - 2Y~ 9 ) (Xm~ - BL)2 wherein y' represents ~he value of the ~unction at x~, x~ represents the minimum value of the parameter, y'' represents the value o~ the function at x~, and x~
represents the maximum value of the parameter.
Once ~he value~ of the mapping parameter, G, for the two range~ have been deter~ineA, the mapped value of the parameter is generated using an eguation of the form:
y= ~ {1 - exp(-G~(x-BL)2)}, for x<BL
~ {l - exp(-G~h(x-BL)~ or x~BL
For each parameter, the measured value of the parameter, x, is plugged into the a~ove e~ua~ion, along with the appropriate ba~eline value, BL, and WO.97/44754 P~~ 7/08~78 mapping parame~er, G. Accordingly, a mapped value of each parameter, y, is generated.
The mapped value of each parameter, y, is then used to generate the deviation indicator for each S parameter using an equation of the form:
DI= lK x y~
wherein DI represents the deviation indicator, K
represent5 a constant, y represents the value of the ~unction, and " L ~ ~ represents a floor ~unction that returns the largest integer value of an expression contained between the " L~ and the ~ ' symbols.
Returning to Figure 2, once the deviation indicators have been determined for each parameter, the deviation indicators are analyzed to generate one or more performance or status indicators at step 61.
The status indicators contain information about the overall status of the system. The performance indicator is a ~o~l~ or bar indicator that signifies the re~ative volatility of the stock at issue in terms of its deviation from the overall group's baseline.
In a preferred emho~; ent of the invention, the ~toc~'~ performance indicator is assigned one of six value~, ranging from ~ero to five. Zero represents stability and five represents either a loss and downward performance or a positive gain and upward performance. on the display, the area representing each performance level increases as the level gets ~urther from the baseline (i.e., the gain or sensitivity of the transformation decreases as the measuxed parameter moves away from its baseline level). The transformation is performed on every parameter, therefore there is an assigned level for each parameter.
The value of the security per~ormance indicator is taken to be the ~Y; um level o~ the transformed WO 97/44754 PCr/US97/08578 parameters be this in terms of nega~ive deviation or positive deviation. The per~ormance indicator i5 assigned a per~ormance or value level by comparing the indicator to prescribed reference values. Exemplary reference values are shown in the following table.
O - (color of display background) No deviation from baseline 1 - (white-yellow) Little movement from baseline 2 - (yellow) Some deviation from ba~eline 3 - (orange-yellow) Greater deviation from baseline 4 - (orange) Considerable deviation from baseline S - (red) ~A~irt~m deviation f~om baseline The above reference values may be adjusted to meet the ~pecific parameters and analysis thereof for each ~inancial security and financial securities market.
Another feature of one system in accordance with the present invention is that one or more subsystems can be defined wherein the measured security index values or parameters are grouped according to ~ubsystems. As an example, a bad pro~it/earnings quarter frequently affects the value of a given company's stock and may result in a reduction in the stock dividend thereby affecting the stock yield.
In ~ome applications, the same security index value or parameter can be grouped in more than one subsystem. One or more subsystem performance or status indicators associated with ea¢h subsystem are then generated at step 67 of Figure 4 by analyzing the deviation indicators for the measured parameters which are grouped in each subsystem. The subsystem performance indicator becomes the largest deviation indicator of all the parameters ~Gu~2d in ~hat ~ubsystem. ~or example, the dividend yields of lo companies (numbers 1-10) may be monitored. Of those nies, numbers 1 and 4-7 may all be related to the same parent company and can therefore be ~Lo~ed as a WQ 97144754 PCI~/US97/08578 first subsystem. Similarly, numbers }, 3, and 8-10 may relate to the same parent company and be grouped as a second subsy~tem. If the deviation indicators corresponding to the dividend yields of comr~nies 1, 3 and 8-10 have a value of "1," and the deviation indicators corresponding to the dividend yields of companies 4-6 have a value of "2," the performance indicator of the system will be assigned "2."
Additionally, the subsystém comprising the first group of ~o~r~nie~ will be assigned a subsystem per~ormance indicator of ~2" and the subsystem comprising the second group of companies will be assigned a subsystem performance indicator of "1."
~he ~ecurity performance indicator may be displayed along with an indication of the su~systems involved. Each of the subsystem, however, will be represented with its subsystem status or performance indicator, respectively "2" and "1.'l The advantage of this is that it ri~;ri~es the null space and eliminates ambiguity.
The true scope of the present invention is not limited to the transformation of the measured parameters to values ranging from zero to one, nor is the in~ention limited to the partition of the ~ran~form ~r~ into ~ix value levels. Tn~ , the invention may be carried out using a transformation other than ~he sigmoid transformation de~crib~d herein (although the sigmoid is one presently preferred function). As indicated a~ove, an advantageous feature of the sigmoid transform i~ that the tran~formed parameters can be directly compared with one another in determinin~ the security performance indicator. Other important features of the sigmoid transform are that it has a ~Y; lm sensitivity ~gain or slope) for parameter values near ba~ nç and that it can be defined with only three ~ariable~ (G~, G~, and BL), which can be memorized by the system and -employed to tran~form the measured data in real time using relatively simple for~~ s. In addition, the sigmoid transform may be applied in a different manner (using a different value o~ G) for parameter values below and above the baseline value, which is advantageous in transforming parameter~ that may have baseline values ~kewed closer to the ~;ni rl~ value than to ~he ~i~tl~ value, or vice versa. Any transformation with these or similar ~eatures may be employed in practicing ~he present invention.
Instead of the sigmoid function specified above, the measured financial parame~ers may be normalized by utilizing other functions, such as:
y =
1 ~ e~- 8 y = tanh(x) y = x (1 ~ X) y = ax + bsin w ¦x¦>¦~w¦
Ym x > x~
wherein x represents the monetary value of the particular security index; BL represents the baseline monetary value for the seaurities index; X~u le~Lesents a predefined maximum value for the security ~n~y; a, b, and w represent predefined numbers; and y L~e~entS the value of the function, an Ym represents a predefined maximum value o~ the function.
Following the method of the present inven~ion, the usex can analyze changes in a financial market that are publicly known (i.e., ~e~oL Led in the news) or of personal knowledge alone (i.e., confidential information). The user can also perform ver~ical or in depth analysi~ of financial securities o~ a specific company or financial securities market s~qrent. The data can be received on-line directly WO ~7/44754 PCr/US97/08578 from the financial market being studied.
Referring now to Figure s, the data received is processed withi,n,the on-line computer and displayed upon a video screen (22). The main screen (89) provides a horizontal information and data display (72, 84, 86, 88, and 92) for all the companie~ that the user focuses on. The display at the top screen (84) contains general information about the current state of the market, (e.g., security's performance indicator (83) and an average security performance indicator (85)). Adjacent to each ~tock market ~e~r?,nt shown by the icon (72) is a space or window indicating the initials of the stock or security whose performance is being monitored (~4~. The stock 15- abbreviation indicates that the company monitored is on the display. Clicking on another icon (~2) will reveal other stocks whose performance is being monitored within a different market or group segment.
Adjacent to the window (74) there is a space for an arrow indicating up or down (76). An upwards arrow indicates an increase in the value of the stock and conversely a down arrow indicates a ~ecrease in the value of stock. The current value of ~he ~tock is ~; ~rl ~yed as a number (not shown) that inherits one of ~he following 8iX color~: color of display bac~y O~
white-yellow, yellow, orange-yellow, orange and red representing the trading activity of at least one stock.
0 - (color of display backy~ou.ld) No deviation from ~aseline 1 - (white-yellow) Little mo~ement from baseline 2 - (yellow) Some devia~ion from ba~eline 3 - (orange-yellow) Greater deviation from ' baseline 4 - (orange) Consideration deviation from ba~eline ,, WO 97/44754 24 PCIIUS97/08~i78 5 - (red) Maximum deviation from baseline Next to the market value, there is an indication (not shown) of the difference between the current stock value and the closing va~ue. This difference is also in numbers and also inherits the color of the current trade value.
The di~ference between the current stock value and the closing value can be, for example, a number 1/64 of $1.00. From this it is obvious that a small change of a low value stock may be more signi~icant than a larger difference of a stock with a higher value.
The system provides a global indicator (specific performance indicator) for the entire group of stocks and reflects the individual changes of each stock and the direction of change. All these changes are indicated, using the 0-5 integer scale that indicates the r~ ~ deviation of the entire group. The system also indicates the average deviation of the entire y~u~ using the continuous value on the 0-5 absolute value integer scale. This eli~in~tes the virtual null space created by displaying the ma~i ~m deviation only. The security index values are revealed upon request ~y the financial analyst. The re~erence ~alues u~e the previous day's closing value as the baseline value.
The h~C~ e value (79) may be displayed. For t'he purpose o~ analy~is of current rates of the entire y-ou~, all stock market quotations are analyzed using specific data elements. These security index values will be the same for all the stock market quotations (horizontal analysis). These values will include current trade value, volume of the s~ocks traded for each quotation, ask and bid values (other values may be included at a later stage). The high (80) and low (82) boundaries or critical values may also be displayed respectively, on the screen (78) and these high and low critical values may be changed at the analyst's will. The val~es shown on the screen (78 comprise the current referenced values and baseline.
The system receives data on-line from the stock ~c~nge floor, or from any other on-line service. It is clear that the rate of update may ~e different contingent upon the rate of transmission of the service provider.
Referring again to Figure 5, the display provides a zoom-in to different time i~tervals: 15 minutes, 30 minutes, 1 hour, etc., up to one week or one quarter year. comments and events are entered using the keyboard. For purposes of analyzing one company, the system will provide access to the data base without losing the contact or the view of the SPI and average SPI indicators. As noted below, ~he system will provide a comparable display of the Dow Jones, NASDAQ, etc. either on the same window or on a separate window underneath the current window.
The main display (89) is divided into two main portions. On the right is an emp~y sp~ce (90) for interaction with the system while, the left section is the main information display (72, 84, 86, ~8, and 92).
The main subsection will include three windows. The top window (84~ includes the trend SPI and the average trend SPI indicators for the group of stoc~s ~eing ~onitored. The middle window (86) ;n~sntes other market indices (e.g., Dow ~ones). ~he lower window (88) allows the user to focus on up to three stocXs.
In the middle of the screen lateral to the top window is a bar (92) that changes in height and color. The ~ar (92) reflects instantaneous changes in SPI. There are 6 different colors, one for each value. ~he bar changes in height according to the -Y; deviation and inherits the color that corresponds to that ~evel.
~his mode o~ presentation conveys the in~ormation in 2 ions, height and color. The ~.poDe of the CA 022~7~ 1998~ 18 W097/44754 PCT~S97/08578 system is to convert the ~ecurity index value~ to information that will be perceived and comprehended by the user at a glan~e.
In the center of the screen lateral to the bar there i~ a group o* pu~h buttons/icon~ (~2~ for each subsystem representing certain financial securities or a financial security for a horizontal-type analy~is or ~ubsystems ~or a vertical-type analysis. These indicators assume the color of de~iation that corresponds to the ~ m deviation o~ the individual indicators or icons that are included in this market segment or subsystem. ~he analysis of each segment is independent of all other quotations and with the sigmoid function or other method discussed supra.
Above the ~ou~ of the market segments there are ~wo push buttons/indicators that will reveal the cau~al event (73) and the "unstable" icon (71). At the bottom of the screen there is a set of utility buttons that allow the user to interact with the system.
Clicking on one of the subsystem or market segments push-buttons will reveal the individual icons, the color that indicates the deg ee of deviation, and an arrow that indicates ~hether the deviation is increasing or decxeasing.
In yet a ~urther embodiment of the present invention, in addition to the unstable icon (71~, the display can include three push ~Lo~l indicatorc or icons (g5), ~hown in Figure 6, which will reveal three adai~- i 9~A 1 sets of ~ecurity parameter index values. A
first functional icon when activated will display all the parameters for the ~ecurities of interest ~or those securities that are being traded at values above those sold the previous day, week, month, year, etc.
A s~con~ functional icon when activated summarizes all the parameters for those securities that are changing or varia~le for a given point in time. This is tantamount to the embodiment ~ith the "unstable" icon PCT~S97/08578 Wos7/447s4 (71) above. Finally, a third icon will present the parameters for those securities of interest that are being traded below-their baseline value of yesterday, last week, etc., which provides an indication of the current trend of the performance of the ~inancial security or financial securities markets.
The present invention is inte~e~ to be a user ~riendly system that may be,5pecifically tailored to a particular monetary or financial market for the ~onitoring thereof and may be coordinated ~o as to utilize many of the particular analystsl own means of interpreting financial data. As such, it is recognized that there are many variations and changes that may be made with respect to the embodiments ~et foxth above. It is to be understood that to the extent any such changes or alterations do not materially change or alter the method of data transformation and analysis as set ~orth herein, such changes or alterations must be considered as falling within the spirit and scope of the invention as recited by the claims that follow.
S - (red) Maximum deviation from baseline Accordingly, the transformer maps each parameter into numbers representing the state of each parameter relative to the system's baseline conditions and to prescribed maximum and minimum re~erence value~ for each parameter.
PCT~S97/08578 W097/447~4 The individual deviation indicators are then transferred across a ~ignal line 14 to a comparator 20. ~he comparator 20 compares the ~alues of the deviation indicators to one another and generates one or more ~tatus indicators. The statu~ indicators contain information regarding the overall status of the financial security system of interest.
A display unit 22 is provided for communicating the financial status indicator~ to the user. The display unit 22 is connected ~o the co~ator 20 by a signal line 14 which allows the status indicators to ~e passed ~rom the comparator 20 to the display unit 22. Preferably, the display unit 22 com~rises a video ~onitor so that the financial status indicators can be visually displayed in a form that is easily analyzed by the user. Optionally, an audio-signal indicator is al~o generated that has di~ferent sound6 for each level of deviation.
The present invention also relates to a method ~or monitoring a financial security or financial ~ecurities market as depicted in Figure 2. According to the method, a security index value profile is generated at step 50. The user is given an option of e$ther creat~ng a new security index value profile or 25 reçnl 1 ~n~ an old one. ~f a new profile is to be created, the user inputs ~he information regarding the r?~ity index profile for the ~inancial securities or ~nancial secur~ties markets to be monitored. For many applications, such information includes a bas~ ~n~, a minimum, and a maximum ~alue for each ~ ~ity index value. I~, however, an old jn~e~
profile i5 to be used, the user is preferably given an option to adjust the exi~ting security index profile.
The ~ethod of the present invention allows the user to tailor the index profile to the individual characteristics of the security index value to be analyzed.
CA 02255575 l998-ll-l8 WO. 97/44754 PCTIUS97/V8578 Once the security index prof ile ha~ been generated, the individual security index values are measured, as shown at step 52. The number of security index values measured will vary from application to application. However, the method of the present invention is completely applicable to the measurement of any number of ~ecurity index values.
At step 54 the measured value of each security index value or parameter is transformed to yield a lo deviation indicator for each financial parameter. The measured values are mapped into a corresponding deviation indicator using a transformation function.
In a preferred form the function is asy~metric about the financial baseline value. In one embodiment, the tran~formation is a function which exhibits a ~;mll~
censitivity for deviations C7 ose to the baseline value of the parameter, such as a sigmoid function.
~owever, the present invention can also be practiced using transformation ~unctions which exhibit a ~inir-lr sensitivity ~or deviations close to the baseline value of ~he parameter.
The process for transforming each measured value into a deviation indicator, step 54, is shown in greater detail in ~igure 3. A mapped parameter is generated for each financial parameter at step 55.
The form of the mapped parameter is determined by the function used to effectuate ~he transfcrmation. The mapped parameter reflects the information regarding each parameter which was generated as part of the ~y~tem profile at ~tep 50. Preferably, the mapped parameter is different for values of the parameter above the financial h~l ine value and below the baseline value.
once the value of the mapped parameter has been determined, the mapped value of the parameter i~
generated at step 57. The mapped value i~ generated using the transformation function and the appropriate WO 97/44754 PCT/US97/08~;78 value for the mapped parameter.
The mapped value of each financial parameter is then used to g~nerate the deviation indicator ~or each parameter at step 5~. The deviation indicator is determined by assigning ~o each parameter a level of deviation as~ociated'with the parameter. Pre~erably, the higher the mapped value, the higher the level of deviation. As stated before, each mapped value is preferably assigned one o~ six levels of performance, 0 ranging from zero to five according to the ~ollowing scale:
o - (color of display background) No deviation from baseline 1 - (white-yellow) Little movement ~rom ~aseline 2 - ~yellow) Some deviation from baseline 3 - (orange-yellow) Greater deviation from baseline 4 - (orange) Considerable deviation from baseline 5 - (red) ~xi~1~ deviation from baseline In one particular embodiment, the transformation is based on ~he well known sigmoid function. Baseline values ~hat may ~e used Por the purpose oP this i..~enLion include, but are not limi~ed to, the security's closing price, the security's opening 2S price, its year to date average price, its year ~o date high and/or low price, etc. The security analyst i8 free to select any baseline value of interest.
This baseline value can be recei~ed directly ~rom the ~inancial market or from hardware storage media.
Alternatively, the baseline value can be directly entered by ~he operator. However, the transformation is identically performed for all parameters; only the baseline and maximum and minimum values are changed.
The ~inancial analysts are given the option to either create a new stock profile or to recall an old one. To apply the func~ion, there is a need to use three parameters; the baseline value, the in~mum PCI~/US97/08578 WO 97/~4754 -- 15 value and the maximum value.
The ~i n i rll~ and ma~i- ~r values may be ~et according to the stockls previous day's values. For example, for current traded stock value, the ~ini~um and ma~;~m values utilize the previous day'~ low and high stock value~, re~pectively. These values may be user defined. Baseline values are mapped to a value of O.S. When the parameter (e.g., stock value) goes above the baseline value, it i8 mapped to a value above 0.5 and below 1.0; values below baseline are mapped to values below 0.5 and above 0Ø
Thus, the transformation maps the parameter or stock index value (parameter and stock index value are used interchangeably) of the stock into numbers representing the state of each parametër relative to the stock's condition and to prescribed maximum, minimum, and baseline reference values for each parameter.
The basic equation for the sigmoid function employed in this embodiment is as follows:
f(X) l ~ e~~
where BL i~ the baseline value for parameter x of the stock of interest x for which the function f(x~ is equal to 0.5 when x = BL (in general, it i5 preferable ~o choose the midrange of the sigmoid function as the h~~l in~) . The parameter G i~ determined on the basi~
of the de~ired value o~ f(x) for ~ome other value of x. G is determined with the equation:
--ln f (x) -- 1 (x -- BL) According to one embodiment of the precent invention, the value of G for all functional value~
PCT/US9~/08$78 below baseline and the value of G ~or all functional values above the baseline are derived by setting x equal to its minimum and maximum values, respectively, and mapping these values to values for f(x) of 0.1 and 0-9- tThere will only be one value of ~ if the baseline value is centered between the maximum (xm~) and minimum (xm~) values). For any parameter x, the ~i~um and minimum values are typically known.
Therefore, given the baseline value BL of any parameter, the following values are determined:
-ln 0.1 ~ 1 G~
(X""~ -- BL) -ln 0.9 - 1 2 0 GhiCh (X,~ BL~
Accordingly, G~ and G~b may be determined and thereafter used to determine the value o~ f(x) in real time in accordance with the followi~g equations:
(X) 5 1 ~or X < BL
1 ~ e~-~4 ~(XJ = 1 ~ 1 ".~." . J ~or X > BL
A si ; 1A~ transformation may be performed upon every parameter measured by the system, since there is a corresponding value of G~, GbUb and BL for every parameter.
The values o~ f(x) for each parameter x is then used to generate the deviation indicator for each parameter using an equation of the form:
WO 97/44754 PCr/US97108578 DI = LK X Abs (y - o~s)~
wherein DI represents the deviation indicator, ~bs represents absolute values, K represents a constant, y represents the value of the function, and " L ¦ ~
represents a floor function that returns the largest integer value of an expression contained between the "L" and the "~" symbols.
The u~e of the sigmoid function as described lo above provides several advantages. First, the transformation pro~ides ~im~lm sensiti~ity (or gain) for parameter values (x) near the parameter's baseline value. Therefore, the value of f(x~ will change most rapidly when the measured ~alue of parameter x first begins to move away from the ba~eline value and will change-least rapidly when the value of the parameter is far away from its baseline value~ In addition, the data needed to calculate or recalculate the transformed data can be easily and quickly determined.
The system may advan~ageously be programmed such that the baseline pro~ile data may be modified on line. In this case, the sys~em will be adaptable to any ~inA~r-ial market, taking into account the market's current environment, and the particular stock involved. The maximum and minimum values could al50 be modified on line.
In another embodiment, the equation used to transform the measured values of the indices ~o the deviation inaicators is of the following form:
y= 3~ {1 - exp(--G(x-BL)2) }
wherein y represents the value of the function, x represents the measured value of the parameter, BL
3s represents the baseline va~ue ~or the parameter, and G
represents the mapping parameter.
The mapping parameter, G, i~ deter~ by WO 97/44754 PCI~/US97108578 solving the above equation. Accordingly, the mapping parameter i~ given by an equation o~ the form:
G= -ln(l - 2y) (x - BL)2 The mapping parameter, G, is t~en solved ~or two ranges o~ the parameter, x. The ~irst range corresponds to values o~ ~x when x<BL and the second range corresponds to values o~ x when x~BL.
Alternatively, the ~irst range corresponds to values o~ x when x5BL and the second range corre~ponds to values of x when x>BL. Accordingly, the two values of the mapping parameter corresponding to the two ranges are given by the ~ollowing equations: ' GkW= -ln(l - 2Y~ ) (xm~ - BL~2 and G~h= -ln(1 - 2Y~ 9 ) (Xm~ - BL)2 wherein y' represents ~he value of the ~unction at x~, x~ represents the minimum value of the parameter, y'' represents the value o~ the function at x~, and x~
represents the maximum value of the parameter.
Once ~he value~ of the mapping parameter, G, for the two range~ have been deter~ineA, the mapped value of the parameter is generated using an eguation of the form:
y= ~ {1 - exp(-G~(x-BL)2)}, for x<BL
~ {l - exp(-G~h(x-BL)~ or x~BL
For each parameter, the measured value of the parameter, x, is plugged into the a~ove e~ua~ion, along with the appropriate ba~eline value, BL, and WO.97/44754 P~~ 7/08~78 mapping parame~er, G. Accordingly, a mapped value of each parameter, y, is generated.
The mapped value of each parameter, y, is then used to generate the deviation indicator for each S parameter using an equation of the form:
DI= lK x y~
wherein DI represents the deviation indicator, K
represent5 a constant, y represents the value of the ~unction, and " L ~ ~ represents a floor ~unction that returns the largest integer value of an expression contained between the " L~ and the ~ ' symbols.
Returning to Figure 2, once the deviation indicators have been determined for each parameter, the deviation indicators are analyzed to generate one or more performance or status indicators at step 61.
The status indicators contain information about the overall status of the system. The performance indicator is a ~o~l~ or bar indicator that signifies the re~ative volatility of the stock at issue in terms of its deviation from the overall group's baseline.
In a preferred emho~; ent of the invention, the ~toc~'~ performance indicator is assigned one of six value~, ranging from ~ero to five. Zero represents stability and five represents either a loss and downward performance or a positive gain and upward performance. on the display, the area representing each performance level increases as the level gets ~urther from the baseline (i.e., the gain or sensitivity of the transformation decreases as the measuxed parameter moves away from its baseline level). The transformation is performed on every parameter, therefore there is an assigned level for each parameter.
The value of the security per~ormance indicator is taken to be the ~Y; um level o~ the transformed WO 97/44754 PCr/US97/08578 parameters be this in terms of nega~ive deviation or positive deviation. The per~ormance indicator i5 assigned a per~ormance or value level by comparing the indicator to prescribed reference values. Exemplary reference values are shown in the following table.
O - (color of display background) No deviation from baseline 1 - (white-yellow) Little movement from baseline 2 - (yellow) Some deviation from ba~eline 3 - (orange-yellow) Greater deviation from baseline 4 - (orange) Considerable deviation from baseline S - (red) ~A~irt~m deviation f~om baseline The above reference values may be adjusted to meet the ~pecific parameters and analysis thereof for each ~inancial security and financial securities market.
Another feature of one system in accordance with the present invention is that one or more subsystems can be defined wherein the measured security index values or parameters are grouped according to ~ubsystems. As an example, a bad pro~it/earnings quarter frequently affects the value of a given company's stock and may result in a reduction in the stock dividend thereby affecting the stock yield.
In ~ome applications, the same security index value or parameter can be grouped in more than one subsystem. One or more subsystem performance or status indicators associated with ea¢h subsystem are then generated at step 67 of Figure 4 by analyzing the deviation indicators for the measured parameters which are grouped in each subsystem. The subsystem performance indicator becomes the largest deviation indicator of all the parameters ~Gu~2d in ~hat ~ubsystem. ~or example, the dividend yields of lo companies (numbers 1-10) may be monitored. Of those nies, numbers 1 and 4-7 may all be related to the same parent company and can therefore be ~Lo~ed as a WQ 97144754 PCI~/US97/08578 first subsystem. Similarly, numbers }, 3, and 8-10 may relate to the same parent company and be grouped as a second subsy~tem. If the deviation indicators corresponding to the dividend yields of comr~nies 1, 3 and 8-10 have a value of "1," and the deviation indicators corresponding to the dividend yields of companies 4-6 have a value of "2," the performance indicator of the system will be assigned "2."
Additionally, the subsystém comprising the first group of ~o~r~nie~ will be assigned a subsystem per~ormance indicator of ~2" and the subsystem comprising the second group of companies will be assigned a subsystem performance indicator of "1."
~he ~ecurity performance indicator may be displayed along with an indication of the su~systems involved. Each of the subsystem, however, will be represented with its subsystem status or performance indicator, respectively "2" and "1.'l The advantage of this is that it ri~;ri~es the null space and eliminates ambiguity.
The true scope of the present invention is not limited to the transformation of the measured parameters to values ranging from zero to one, nor is the in~ention limited to the partition of the ~ran~form ~r~ into ~ix value levels. Tn~ , the invention may be carried out using a transformation other than ~he sigmoid transformation de~crib~d herein (although the sigmoid is one presently preferred function). As indicated a~ove, an advantageous feature of the sigmoid transform i~ that the tran~formed parameters can be directly compared with one another in determinin~ the security performance indicator. Other important features of the sigmoid transform are that it has a ~Y; lm sensitivity ~gain or slope) for parameter values near ba~ nç and that it can be defined with only three ~ariable~ (G~, G~, and BL), which can be memorized by the system and -employed to tran~form the measured data in real time using relatively simple for~~ s. In addition, the sigmoid transform may be applied in a different manner (using a different value o~ G) for parameter values below and above the baseline value, which is advantageous in transforming parameter~ that may have baseline values ~kewed closer to the ~;ni rl~ value than to ~he ~i~tl~ value, or vice versa. Any transformation with these or similar ~eatures may be employed in practicing ~he present invention.
Instead of the sigmoid function specified above, the measured financial parame~ers may be normalized by utilizing other functions, such as:
y =
1 ~ e~- 8 y = tanh(x) y = x (1 ~ X) y = ax + bsin w ¦x¦>¦~w¦
Ym x > x~
wherein x represents the monetary value of the particular security index; BL represents the baseline monetary value for the seaurities index; X~u le~Lesents a predefined maximum value for the security ~n~y; a, b, and w represent predefined numbers; and y L~e~entS the value of the function, an Ym represents a predefined maximum value o~ the function.
Following the method of the present inven~ion, the usex can analyze changes in a financial market that are publicly known (i.e., ~e~oL Led in the news) or of personal knowledge alone (i.e., confidential information). The user can also perform ver~ical or in depth analysi~ of financial securities o~ a specific company or financial securities market s~qrent. The data can be received on-line directly WO ~7/44754 PCr/US97/08578 from the financial market being studied.
Referring now to Figure s, the data received is processed withi,n,the on-line computer and displayed upon a video screen (22). The main screen (89) provides a horizontal information and data display (72, 84, 86, 88, and 92) for all the companie~ that the user focuses on. The display at the top screen (84) contains general information about the current state of the market, (e.g., security's performance indicator (83) and an average security performance indicator (85)). Adjacent to each ~tock market ~e~r?,nt shown by the icon (72) is a space or window indicating the initials of the stock or security whose performance is being monitored (~4~. The stock 15- abbreviation indicates that the company monitored is on the display. Clicking on another icon (~2) will reveal other stocks whose performance is being monitored within a different market or group segment.
Adjacent to the window (74) there is a space for an arrow indicating up or down (76). An upwards arrow indicates an increase in the value of the stock and conversely a down arrow indicates a ~ecrease in the value of stock. The current value of ~he ~tock is ~; ~rl ~yed as a number (not shown) that inherits one of ~he following 8iX color~: color of display bac~y O~
white-yellow, yellow, orange-yellow, orange and red representing the trading activity of at least one stock.
0 - (color of display backy~ou.ld) No deviation from ~aseline 1 - (white-yellow) Little mo~ement from baseline 2 - (yellow) Some devia~ion from ba~eline 3 - (orange-yellow) Greater deviation from ' baseline 4 - (orange) Consideration deviation from ba~eline ,, WO 97/44754 24 PCIIUS97/08~i78 5 - (red) Maximum deviation from baseline Next to the market value, there is an indication (not shown) of the difference between the current stock value and the closing va~ue. This difference is also in numbers and also inherits the color of the current trade value.
The di~ference between the current stock value and the closing value can be, for example, a number 1/64 of $1.00. From this it is obvious that a small change of a low value stock may be more signi~icant than a larger difference of a stock with a higher value.
The system provides a global indicator (specific performance indicator) for the entire group of stocks and reflects the individual changes of each stock and the direction of change. All these changes are indicated, using the 0-5 integer scale that indicates the r~ ~ deviation of the entire group. The system also indicates the average deviation of the entire y~u~ using the continuous value on the 0-5 absolute value integer scale. This eli~in~tes the virtual null space created by displaying the ma~i ~m deviation only. The security index values are revealed upon request ~y the financial analyst. The re~erence ~alues u~e the previous day's closing value as the baseline value.
The h~C~ e value (79) may be displayed. For t'he purpose o~ analy~is of current rates of the entire y-ou~, all stock market quotations are analyzed using specific data elements. These security index values will be the same for all the stock market quotations (horizontal analysis). These values will include current trade value, volume of the s~ocks traded for each quotation, ask and bid values (other values may be included at a later stage). The high (80) and low (82) boundaries or critical values may also be displayed respectively, on the screen (78) and these high and low critical values may be changed at the analyst's will. The val~es shown on the screen (78 comprise the current referenced values and baseline.
The system receives data on-line from the stock ~c~nge floor, or from any other on-line service. It is clear that the rate of update may ~e different contingent upon the rate of transmission of the service provider.
Referring again to Figure 5, the display provides a zoom-in to different time i~tervals: 15 minutes, 30 minutes, 1 hour, etc., up to one week or one quarter year. comments and events are entered using the keyboard. For purposes of analyzing one company, the system will provide access to the data base without losing the contact or the view of the SPI and average SPI indicators. As noted below, ~he system will provide a comparable display of the Dow Jones, NASDAQ, etc. either on the same window or on a separate window underneath the current window.
The main display (89) is divided into two main portions. On the right is an emp~y sp~ce (90) for interaction with the system while, the left section is the main information display (72, 84, 86, ~8, and 92).
The main subsection will include three windows. The top window (84~ includes the trend SPI and the average trend SPI indicators for the group of stoc~s ~eing ~onitored. The middle window (86) ;n~sntes other market indices (e.g., Dow ~ones). ~he lower window (88) allows the user to focus on up to three stocXs.
In the middle of the screen lateral to the top window is a bar (92) that changes in height and color. The ~ar (92) reflects instantaneous changes in SPI. There are 6 different colors, one for each value. ~he bar changes in height according to the -Y; deviation and inherits the color that corresponds to that ~evel.
~his mode o~ presentation conveys the in~ormation in 2 ions, height and color. The ~.poDe of the CA 022~7~ 1998~ 18 W097/44754 PCT~S97/08578 system is to convert the ~ecurity index value~ to information that will be perceived and comprehended by the user at a glan~e.
In the center of the screen lateral to the bar there i~ a group o* pu~h buttons/icon~ (~2~ for each subsystem representing certain financial securities or a financial security for a horizontal-type analy~is or ~ubsystems ~or a vertical-type analysis. These indicators assume the color of de~iation that corresponds to the ~ m deviation o~ the individual indicators or icons that are included in this market segment or subsystem. ~he analysis of each segment is independent of all other quotations and with the sigmoid function or other method discussed supra.
Above the ~ou~ of the market segments there are ~wo push buttons/indicators that will reveal the cau~al event (73) and the "unstable" icon (71). At the bottom of the screen there is a set of utility buttons that allow the user to interact with the system.
Clicking on one of the subsystem or market segments push-buttons will reveal the individual icons, the color that indicates the deg ee of deviation, and an arrow that indicates ~hether the deviation is increasing or decxeasing.
In yet a ~urther embodiment of the present invention, in addition to the unstable icon (71~, the display can include three push ~Lo~l indicatorc or icons (g5), ~hown in Figure 6, which will reveal three adai~- i 9~A 1 sets of ~ecurity parameter index values. A
first functional icon when activated will display all the parameters for the ~ecurities of interest ~or those securities that are being traded at values above those sold the previous day, week, month, year, etc.
A s~con~ functional icon when activated summarizes all the parameters for those securities that are changing or varia~le for a given point in time. This is tantamount to the embodiment ~ith the "unstable" icon PCT~S97/08578 Wos7/447s4 (71) above. Finally, a third icon will present the parameters for those securities of interest that are being traded below-their baseline value of yesterday, last week, etc., which provides an indication of the current trend of the performance of the ~inancial security or financial securities markets.
The present invention is inte~e~ to be a user ~riendly system that may be,5pecifically tailored to a particular monetary or financial market for the ~onitoring thereof and may be coordinated ~o as to utilize many of the particular analystsl own means of interpreting financial data. As such, it is recognized that there are many variations and changes that may be made with respect to the embodiments ~et foxth above. It is to be understood that to the extent any such changes or alterations do not materially change or alter the method of data transformation and analysis as set ~orth herein, such changes or alterations must be considered as falling within the spirit and scope of the invention as recited by the claims that follow.
Claims (76)
1. An apparatus for monitoring financial securities markets comprising:
a. transformation means for transforming each value of a plurality of security index values associated with the system using a function dependent on at least baseline and critical values of the index value;
b. mapping means for mapping the function to a sequence of reference values and generating a deviation indicator for each security index value; and c. analysis means for analyzing the deviation indicators and generating an average deviation indicator.
a. transformation means for transforming each value of a plurality of security index values associated with the system using a function dependent on at least baseline and critical values of the index value;
b. mapping means for mapping the function to a sequence of reference values and generating a deviation indicator for each security index value; and c. analysis means for analyzing the deviation indicators and generating an average deviation indicator.
2. The apparatus as recited in Claim 1 wherein the transformation means employs a function which exhibits a maximum sensitivity for deviations close to the baseline value of the security index value.
3. The apparatus as recited in Claim 2 wherein the transformation means employs a function of the form:
Y = y= tanh (XJ
Y=
y = ax + bsin w ~x¦>¦bw¦
Y m x > X m.alpha.x wherein x represents the monetary value of a particular security index; BL represents the baseline monetary value for that security index;
Xmax represents a predefined maximum monetary value for that security index; a, b, and w represent predefined numbers; and y represents the value of the function, and Y m represents a predefined maximum value of the function.
Y = y= tanh (XJ
Y=
y = ax + bsin w ~x¦>¦bw¦
Y m x > X m.alpha.x wherein x represents the monetary value of a particular security index; BL represents the baseline monetary value for that security index;
Xmax represents a predefined maximum monetary value for that security index; a, b, and w represent predefined numbers; and y represents the value of the function, and Y m represents a predefined maximum value of the function.
4. The apparatus as recited in Claim 1 wherein the transformation means employs a function which exhibits a minimum sensitivity for deviations close to the baseline value of the security index value.
5. The apparatus as recited in Claim 4 wherein the transformation means employs a function of the form:
y= 1/2 {1 - exp(-G(x--BL)2)} , wherein y represents the value of the function, x represents the measured value of the parameter, BL represents the baseline value for the parameter, and G represents a mapping parameter such that and , wherein y' represents the value of the function at x min, x min represents the minimum value of the parameter, y'' represents the value of the function at x max, and x max represents the maximum value of the parameter.
y= 1/2 {1 - exp(-G(x--BL)2)} , wherein y represents the value of the function, x represents the measured value of the parameter, BL represents the baseline value for the parameter, and G represents a mapping parameter such that and , wherein y' represents the value of the function at x min, x min represents the minimum value of the parameter, y'' represents the value of the function at x max, and x max represents the maximum value of the parameter.
6. The apparatus as recited in Claim 1 wherein the transformation means employs a sigmoid function.
7. The apparatus as recited in Claim 1 wherein the mapping means comprises a means for determining the deviation indicators employing a function of the form:
DI = ~K x Abs (y-0.5) ~
wherein DI represents the deviation indicator, K
represents a constant, Abs represents absolute, y represents the value of the function, and " ~ ~"
represents a floor function that returns the largest integer value of an expression contained between the "~" and the "~" symbols.
DI = ~K x Abs (y-0.5) ~
wherein DI represents the deviation indicator, K
represents a constant, Abs represents absolute, y represents the value of the function, and " ~ ~"
represents a floor function that returns the largest integer value of an expression contained between the "~" and the "~" symbols.
8. The apparatus as recited in Claim 1 further comprising a plurality of sensors operative to measure the security performance index.
9. The apparatus as recited in Claim 9 further comprising a display means for displaying the average security performance index.
10. An apparatus for monitoring a system comprising:
a. transformation means for transforming each value of a plurality of security index values associated with the system using a function dependent on at least baseline and critical values of the security index value;
b. mapping means for mapping the function to a sequence of reference values and generating a deviation indicator for each index value;
and c. analysis means for analyzing the deviation indicators and generating a system criticality indicator.
a. transformation means for transforming each value of a plurality of security index values associated with the system using a function dependent on at least baseline and critical values of the security index value;
b. mapping means for mapping the function to a sequence of reference values and generating a deviation indicator for each index value;
and c. analysis means for analyzing the deviation indicators and generating a system criticality indicator.
11. The apparatus as recited in Claim 10 wherein the transformation means employs a function which exhibits a maximum sensitivity for deviations close to the baseline value of the index value.
12. The apparatus as recited in Claim 11 wherein the transformation means employs a function of the form:
y + tanh (x) wherein x represents the monetary value of the particular security index; BL represents the baseline monetary value for the securities index;
x max represents a predefined maximum value for the security index; a, b, and w represent predefined numbers; and y represents the value of the function, and Y m represents a predefined maximum value of the function.
y + tanh (x) wherein x represents the monetary value of the particular security index; BL represents the baseline monetary value for the securities index;
x max represents a predefined maximum value for the security index; a, b, and w represent predefined numbers; and y represents the value of the function, and Y m represents a predefined maximum value of the function.
13. The apparatus as recited in Claim 10 wherein the transformation means employs a function which exhibits a minimum sensitivity for deviations close to the baseline value of the security index value.
14. The apparatus as recited in Claim 13 wherein the transformation means employs a function of the form:
y = 1/2 {1 - exp(-G(x--BL)2)}, wherein y represents the value of the function, x represents the measured value of the parameter, BL represents the baseline value for the parameter, and G represents a mapping parameter such that and , wherein y' represents the value of the function at x min, x min represents the minimum value of the parameter, y'' represents the value of the function at x max, and x max represents the maximum value of the parameter.
y = 1/2 {1 - exp(-G(x--BL)2)}, wherein y represents the value of the function, x represents the measured value of the parameter, BL represents the baseline value for the parameter, and G represents a mapping parameter such that and , wherein y' represents the value of the function at x min, x min represents the minimum value of the parameter, y'' represents the value of the function at x max, and x max represents the maximum value of the parameter.
15. The apparatus as recited in Claim 10 wherein the transformation means employs a sigmoid function.
16. The apparatus as recited in Claim 10 wherein the mapping means comprises a means for determining the deviation indicators employing a function of the form:
DI = ~K x Abs (y - 0.5).~
wherein DI represents the deviation indicator, K
represents a constant, Abs represents absolute, y represents the value of the function, and " ~"
represents a floor function that returns the largest integer value of an expression contained between the "~" and the "~" symbols.
DI = ~K x Abs (y - 0.5).~
wherein DI represents the deviation indicator, K
represents a constant, Abs represents absolute, y represents the value of the function, and " ~"
represents a floor function that returns the largest integer value of an expression contained between the "~" and the "~" symbols.
17. The apparatus as recited in Claim 10 further comprising a plurality of sensors operative to measure the security index values.
18. The apparatus as recited in Claim 10 further comprising a display means for displaying the system criticality indicator.
19. An apparatus for monitoring a system comprising:
a. transformation means for transforming each value of a plurality of indices associated with the system using a function dependent on at least baseline and critical values of the security index value, wherein the function exhibits a maximum sensitivity for deviations close to the baseline value of the index value; and b. mapping means for mapping the function to a sequence of reference values and generating a deviation indicator for each security index value.
a. transformation means for transforming each value of a plurality of indices associated with the system using a function dependent on at least baseline and critical values of the security index value, wherein the function exhibits a maximum sensitivity for deviations close to the baseline value of the index value; and b. mapping means for mapping the function to a sequence of reference values and generating a deviation indicator for each security index value.
20. The apparatus as recited in Claim 19 wherein the transformation means employs a function of the form:
y = tanh (x) wherein x represents the monetary value of the particular security index; BL represents the baseline monetary value for the securities index;
X max represents a predefined maximum value for the security index; a, b, and w represent predefined numbers; and y represents the value of the function, and Y m represents a predefined maximum value of the function.
y = tanh (x) wherein x represents the monetary value of the particular security index; BL represents the baseline monetary value for the securities index;
X max represents a predefined maximum value for the security index; a, b, and w represent predefined numbers; and y represents the value of the function, and Y m represents a predefined maximum value of the function.
21. The apparatus as recited in Claim 19 wherein the transformation means employs a function which exhibits a minimum sensitivity for deviations close to the baseline value of the security index value.
22. The apparatus as recited in Claim 21 wherein the transformation means employs a function of the form:
y= 1/2 {1 - exp(-G(x-BL) 2)} , wherein y represents the value of the function, x represents the measured value of the parameter, BL represents the baseline value for the parameter, and G represents a mapping parameter such that and , wherein y' represents the value of the function at x min, x min represents the minimum value of the parameter, y'' represents the value of the function at x max, and x max represents the maximum value of the parameter.
y= 1/2 {1 - exp(-G(x-BL) 2)} , wherein y represents the value of the function, x represents the measured value of the parameter, BL represents the baseline value for the parameter, and G represents a mapping parameter such that and , wherein y' represents the value of the function at x min, x min represents the minimum value of the parameter, y'' represents the value of the function at x max, and x max represents the maximum value of the parameter.
23. The apparatus as recited in Claim 19 wherein the mapping means comprises a means for determining the deviation indicators employing a function of the form:
DI = ~K x Abs (y- 0.5) ~
wherein DI represents the deviation indicator, K
represents a constant, Abs represents absolute, y represents the value of the function, and " ~"
represents a floor function that returns the largest integer value of an expression contained between the "~" and the "~" symbols.
DI = ~K x Abs (y- 0.5) ~
wherein DI represents the deviation indicator, K
represents a constant, Abs represents absolute, y represents the value of the function, and " ~"
represents a floor function that returns the largest integer value of an expression contained between the "~" and the "~" symbols.
24. The apparatus as recited in Claim 19 further comprising a plurality of sensors operative to measure the values of the security index values.
25. The apparatus as recited in Claim 19 further comprising a display means for displaying the average deviation indicator.
26. An apparatus for monitoring a financial security comprising:
a. transformation means for transforming each value of a plurality of security index values associated with the financial security using a function dependent on at least baseline and critical values of the financial security;
b. mapping means for mapping the function to a sequence of reference values and generating a deviation indicator for each security index value; and c. analysis means for analyzing the deviation indicators and generating an average deviation indicator.
a. transformation means for transforming each value of a plurality of security index values associated with the financial security using a function dependent on at least baseline and critical values of the financial security;
b. mapping means for mapping the function to a sequence of reference values and generating a deviation indicator for each security index value; and c. analysis means for analyzing the deviation indicators and generating an average deviation indicator.
27. An apparatus for monitoring a financial security comprising:
a. transformation means for transforming each value of a plurality of security index values associated with the financial security using a function dependent on at least baseline and critical values of the index value;
b. mapping means for mapping the function to a sequence of reference values and generating a deviation indicator for each security index value; and c. analysis means for analyzing the deviation indicators and generating a system criticality indicator.
a. transformation means for transforming each value of a plurality of security index values associated with the financial security using a function dependent on at least baseline and critical values of the index value;
b. mapping means for mapping the function to a sequence of reference values and generating a deviation indicator for each security index value; and c. analysis means for analyzing the deviation indicators and generating a system criticality indicator.
28. An apparatus for monitoring a financial security comprising:
a. transformation means for transforming each value of a plurality of security index values associated with the financial security using a function dependent on at least baseline and critical values of the security index value, wherein the function exhibits a maximum sensitivity for deviations close to the baseline value of the index value; and b. mapping means for mapping the function to a sequence of reference values and generating a deviation indicator for each security index value.
a. transformation means for transforming each value of a plurality of security index values associated with the financial security using a function dependent on at least baseline and critical values of the security index value, wherein the function exhibits a maximum sensitivity for deviations close to the baseline value of the index value; and b. mapping means for mapping the function to a sequence of reference values and generating a deviation indicator for each security index value.
29. A method for monitoring financial securities markets comprising:
a. a transformation step for transforming each value of a plurality of security index values associated with the system using a function dependent of at least baseline and critical values of the index value;
b. a mapping step for mapping the function to a sequence of reference values and generating a deviation indicator for each security index value; and c. an analysis step for analyzing the deviation indicators and generating an average deviation indicator.
a. a transformation step for transforming each value of a plurality of security index values associated with the system using a function dependent of at least baseline and critical values of the index value;
b. a mapping step for mapping the function to a sequence of reference values and generating a deviation indicator for each security index value; and c. an analysis step for analyzing the deviation indicators and generating an average deviation indicator.
30. The method as recited in Claim 29 wherein the transformation step employs a function which exhibits a maximum sensitivity for deviations close to the baseline value of the security index value.
31. The method as recited in Claim 30 wherein the transformation step employs a function of the form:
y = tanh (x) wherein x represents the monetary value of the particular security index; BL represents the baseline monetary value for the securities index;
x max represents a predefined maximum value for the security index, a, b, and w represents predefined numbers; and y represents the value of the function, and Y m represents a predefined maximum value of the function.
y = tanh (x) wherein x represents the monetary value of the particular security index; BL represents the baseline monetary value for the securities index;
x max represents a predefined maximum value for the security index, a, b, and w represents predefined numbers; and y represents the value of the function, and Y m represents a predefined maximum value of the function.
32. The method as recited in Claim 29 wherein the transformation step employs a function which exhibits a minimum sensitivity for deviations close to the baseline value of the security index value.
33. The method as recited in Claim 32 wherein the transformation step employs a function of the form:
y= 1/2 (1 - exp(-G(x-BL)2)} , wherein y represents the value of the function, x represents the measured value of the parameter, BL represents the baseline value for the parameter, and G represents a mapping parameter such that and , wherein y' represents the value of the function at x min, x min represents the minimum value of the parameter, y'' represents the value of the function at x max, and x max represents the maximum value of the parameter.
y= 1/2 (1 - exp(-G(x-BL)2)} , wherein y represents the value of the function, x represents the measured value of the parameter, BL represents the baseline value for the parameter, and G represents a mapping parameter such that and , wherein y' represents the value of the function at x min, x min represents the minimum value of the parameter, y'' represents the value of the function at x max, and x max represents the maximum value of the parameter.
34. The method as recited in Claim 29 wherein the transformation step employs a sigmoid function.
35. The method as recited in Claim 29 wherein the mapping step comprises the step of determining the deviation indicators employing a function of the form:
DI = ~ x Abs (y - 0.5)~
wherein DI represents the deviation indicator, K
represents a constant, Abs represents absolute, y represents the value of the function, and "~"
represents a floor function that returns the largest integer value of an expression contained between the "~" and the "~" symbols.
DI = ~ x Abs (y - 0.5)~
wherein DI represents the deviation indicator, K
represents a constant, Abs represents absolute, y represents the value of the function, and "~"
represents a floor function that returns the largest integer value of an expression contained between the "~" and the "~" symbols.
36. The method as recited in Claim 29 further comprising a step of displaying the average deviation indicator.
37. The method as recited in Claim 29 wherein the analysis step comprises the steps of:
a. defining at least one subsystem; and b. generating an average deviation indicator for each subsystem.
a. defining at least one subsystem; and b. generating an average deviation indicator for each subsystem.
38. A method for monitoring financial securities markets comprising:
a. a transformation step for transforming each value of a plurality of security index values associated with the system using a function dependent on at least baseline and critical values of the index value;
b. a mapping step for mapping the function to a sequence of reference values and generating a deviation indicator for each security index value; and c. an analysis step for analyzing the deviation indicators and generating a criticality indicator.
a. a transformation step for transforming each value of a plurality of security index values associated with the system using a function dependent on at least baseline and critical values of the index value;
b. a mapping step for mapping the function to a sequence of reference values and generating a deviation indicator for each security index value; and c. an analysis step for analyzing the deviation indicators and generating a criticality indicator.
39. The method as recited in Claim 38 wherein the transformation step employs a function which exhibits a maximum sensitivity for deviations close to the baseline value of the security index value.
40. The method as recited in Claim 39 wherein the transformation step employs a function of the form:
y = tanh (x) wherein x represents the monetary value of the particular security index; BL represents the baseline monetary value for the securities index;
x max represents a predefined maximum value for the security index; a, b, and w represents predefined numbers; and y represents the value of the function, and y m represents a predefined maximum value of the function.
y = tanh (x) wherein x represents the monetary value of the particular security index; BL represents the baseline monetary value for the securities index;
x max represents a predefined maximum value for the security index; a, b, and w represents predefined numbers; and y represents the value of the function, and y m represents a predefined maximum value of the function.
41. The method as recited in Claim 38 wherein the transformation step employs a function which exhibits a minimum sensitivity for deviations close to the baseline value of the security index value.
42. The method as recited in Claim 41 wherein the transformation step employs a function of the form:
y= 1/2 expf-G(x-BL)2)} , wherein y represents the value of the function, x represents the measured value of the parameter, BL represents the baseline value for the parameter, and G represents a mapping parameter such that and , wherein y' represents the value of the function at x min, x min represents the minimum value of the parameter, y'' represents the value of the function at x max, and x max represents the maximum value of the parameter.
y= 1/2 expf-G(x-BL)2)} , wherein y represents the value of the function, x represents the measured value of the parameter, BL represents the baseline value for the parameter, and G represents a mapping parameter such that and , wherein y' represents the value of the function at x min, x min represents the minimum value of the parameter, y'' represents the value of the function at x max, and x max represents the maximum value of the parameter.
43. The method as recited in Claim 38 wherein the transformation step employs a sigmoid function.
44. The method as recited in Claim 38 wherein the mapping step comprises a step of determining the deviation indicators employing a function of the form:
DI = ~ K x Abs (y - 0.5)~
wherein DI represents the deviation indicator, K
represents a constant, Abs represents absolute, y represents the value of the function, and "~"
represents a floor function that returns the largest integer value of an expression contained between the "~" and the "~ " symbols.
DI = ~ K x Abs (y - 0.5)~
wherein DI represents the deviation indicator, K
represents a constant, Abs represents absolute, y represents the value of the function, and "~"
represents a floor function that returns the largest integer value of an expression contained between the "~" and the "~ " symbols.
45. The method as recited in Claim 38 further comprising a step of displaying the system criticality indicator.
46. The method as recited in Claim 38 wherein the analysis step comprises the steps of:
a. defining at least one subsystem; and b. generating a criticality indicator for each subsystem.
a. defining at least one subsystem; and b. generating a criticality indicator for each subsystem.
47. A method for monitoring financial securities markets comprising:
a. a transformation step for transforming each value of a plurality of security index values associated with the system using a function dependent on at least baseline and critical values of the index value, wherein the function exhibits a maximum sensitivity for deviations close to the baseline value of the index value; and b. a mapping step for mapping the function to a sequence of reference values and generating a deviation indicator for each security index value.
a. a transformation step for transforming each value of a plurality of security index values associated with the system using a function dependent on at least baseline and critical values of the index value, wherein the function exhibits a maximum sensitivity for deviations close to the baseline value of the index value; and b. a mapping step for mapping the function to a sequence of reference values and generating a deviation indicator for each security index value.
48. The method as recited in Claim 47 wherein the transformation step employs a function of the form:
y = tanh (x) wherein x represents the monetary value of the particular security index, BL represents the baseline monetary value for the securities index;
x max represents a predefined maximum value for the security index; a, b, and w represents predefined numbers; and y represents the value of the function, and y m represents a predefined maximum value of the function.
y = tanh (x) wherein x represents the monetary value of the particular security index, BL represents the baseline monetary value for the securities index;
x max represents a predefined maximum value for the security index; a, b, and w represents predefined numbers; and y represents the value of the function, and y m represents a predefined maximum value of the function.
49. The method as recited in Claim 47 wherein the mapping step comprises a step of determining the deviation indicators employing a function of the form:
DI = ~K x Abs (y -0.5)~
wherein DI represents the deviation indicator, K
represents a constant, Abs represents absolute, y represents the value of the function, and "~"
represents a floor function that returns the largest integer value of an expression contained between the "~" and the "~" symbols.
DI = ~K x Abs (y -0.5)~
wherein DI represents the deviation indicator, K
represents a constant, Abs represents absolute, y represents the value of the function, and "~"
represents a floor function that returns the largest integer value of an expression contained between the "~" and the "~" symbols.
50. The method as recited in Claim 47 further comprising a step of displaying the average deviation indicator.
51. A method for monitoring a financial security comprising:
a. a transformation step for transforming each value of a plurality of security index values associated with the financial security using a function dependent on at least baseline and critical values of the index value;
b. a mapping step for mapping the function to a sequence of reference values and generating a deviation indicator for each security index value; and c. an analysis step for analyzing the deviation indicators and generating an average deviation indicator.
a. a transformation step for transforming each value of a plurality of security index values associated with the financial security using a function dependent on at least baseline and critical values of the index value;
b. a mapping step for mapping the function to a sequence of reference values and generating a deviation indicator for each security index value; and c. an analysis step for analyzing the deviation indicators and generating an average deviation indicator.
52. A method for monitoring a financial security comprising:
a. a transformation step for transforming each value of a plurality of security index values associated with the financial security using a function dependent on at least baseline and critical values of the index value;
b. a mapping step for mapping the function to a sequence of reference values and generating a deviation indicator for each security index value; and c. an analysis step for analyzing the deviation indicators and generating a system criticality indicator.
a. a transformation step for transforming each value of a plurality of security index values associated with the financial security using a function dependent on at least baseline and critical values of the index value;
b. a mapping step for mapping the function to a sequence of reference values and generating a deviation indicator for each security index value; and c. an analysis step for analyzing the deviation indicators and generating a system criticality indicator.
53. A method for monitoring a financial security comprising:
a. a transformation step for transforming each value of a plurality of security index values associated with the financial security using a function dependent on at least baseline and critical values of the index value, wherein the function exhibits a maximum sensitivity for values of the index value near the baseline value of the index value; and b. a mapping step for mapping the function to a sequence of reference values and generating a deviation indicator for each security index value.
a. a transformation step for transforming each value of a plurality of security index values associated with the financial security using a function dependent on at least baseline and critical values of the index value, wherein the function exhibits a maximum sensitivity for values of the index value near the baseline value of the index value; and b. a mapping step for mapping the function to a sequence of reference values and generating a deviation indicator for each security index value.
54. A method for monitoring financial securities markets comprising the steps of:
a. measuring a plurality of security index values;
b. transforming each index value to a sigmoid function indicative of at least normal and critical levels of the index value;
c. comparing each of the computed sigmoid function to a prescribed sequence of reference values and on the basis of this comparison generating for each index value a corresponding status value indicative of the upper and lower limits of the securities worth;
d. selecting either the upper or lower status value as a signal deferent upon whether the security is to be bought or sold; and e. displaying said status value.
a. measuring a plurality of security index values;
b. transforming each index value to a sigmoid function indicative of at least normal and critical levels of the index value;
c. comparing each of the computed sigmoid function to a prescribed sequence of reference values and on the basis of this comparison generating for each index value a corresponding status value indicative of the upper and lower limits of the securities worth;
d. selecting either the upper or lower status value as a signal deferent upon whether the security is to be bought or sold; and e. displaying said status value.
55. The method of claim 54 wherein each security index value is transformed using a sigmoid function in accordance with pre-selected maximum and minimum values and a preselected baseline value adapted to the financial security being monitored.
56. The method of claim 54 wherein said critical levels of said index value comprise the highest and lowest monetary values of the financial security over a given period of time.
57. The method of claim 56 wherein said highest and lowest monetary values of the financial security are determined over a predetermined short time span and over a predetermined long time span.
58. The method of claim 57 wherein said transformation of the security index value employs any equation selected from the group consisting of:
y = tanh (x) wherein x represents the monetary value of a particular security index; BL represents the baseline monetary value for that security index;
Xmax represents a pre-defined maximum monetary value for that security index; a, b, and w represent pre-defined number; and y represents the value of the function, and Y m represents a predefined maximum value of the function.
y = tanh (x) wherein x represents the monetary value of a particular security index; BL represents the baseline monetary value for that security index;
Xmax represents a pre-defined maximum monetary value for that security index; a, b, and w represent pre-defined number; and y represents the value of the function, and Y m represents a predefined maximum value of the function.
59. The method of Claim 58 wherein said security is a stock issue traded on the New York Stock Exchange.
60. The method of claim 59 wherein said security index value is a stock market indicator selected from the group consisting of dividends, yield, profit/earnings ratio, sales volume, high selling price, low selling price, closing price, high and low values for a one-year period and percent change.
61. The method of claim 59 wherein said security is a stock issue traded on NASDAQ National Market.
62. The method of claim 61 wherein said security index is selected from the group consisting of dividend value, sales volume, closing price/share and net change.
63. The method of claim 61 wherein said security is a mutual fund
64. The method of claim 63 wherein said security index value is selected from the group consisting of expense ratio, net asset value, share price and the change in the mutual funds net asset value from the previous day.
65. The method of claim 57 wherein said transformation of the security index value employs a function of the form:
y = 1/2 {1 - exp(-G(x-BL)2)} , wherein y represents the value of the function, x represents the measured value of the parameter, BL represents the baseline value for the parameter, and G represents a mapping parameter such that and , wherein y' represents the value of the function at x min, x min represents the minimum value of the parameter, y'' represents the value of the function at x max, and x max represents the maximum value of the parameter.
y = 1/2 {1 - exp(-G(x-BL)2)} , wherein y represents the value of the function, x represents the measured value of the parameter, BL represents the baseline value for the parameter, and G represents a mapping parameter such that and , wherein y' represents the value of the function at x min, x min represents the minimum value of the parameter, y'' represents the value of the function at x max, and x max represents the maximum value of the parameter.
66. A financial securities monitoring system, comprising:
a. at least one financial monitor operative to measure a plurality of financial parameters of a securities market, each said financial parameter having a pre-defined baseline;
b. means for transforming each financial parameter to a function indicative of at least normal and critical levels of the parameter;
c. means for comparing each of said functions to a prescribed sequence of reference values and on the basis of the comparison generating for each parameter a corresponding critical value level;
d. means for selecting one of said critical value levels as a monetary status indicator;
and e. means for displaying said monetary status indicator, wherein said means for transforming employs a member of the following group:
y = tanh (x) y = x (1 + x) wherein x represents the monetary value of the particular security index; BL represents the baseline monetary value for the securities index;
X max represents a predefined maximum value for the security index, a, b, and w represent predefined numbers; and y represents the value of the function, and y m represents a predefined maximum value of the function.
a. at least one financial monitor operative to measure a plurality of financial parameters of a securities market, each said financial parameter having a pre-defined baseline;
b. means for transforming each financial parameter to a function indicative of at least normal and critical levels of the parameter;
c. means for comparing each of said functions to a prescribed sequence of reference values and on the basis of the comparison generating for each parameter a corresponding critical value level;
d. means for selecting one of said critical value levels as a monetary status indicator;
and e. means for displaying said monetary status indicator, wherein said means for transforming employs a member of the following group:
y = tanh (x) y = x (1 + x) wherein x represents the monetary value of the particular security index; BL represents the baseline monetary value for the securities index;
X max represents a predefined maximum value for the security index, a, b, and w represent predefined numbers; and y represents the value of the function, and y m represents a predefined maximum value of the function.
67. The system of claim 66 comprising means for selecting a maximum value of said critical value levels as said monetary status indicator.
68. The system of claim 67 comprising means for selecting a maximum value of said critical value levels as said indicator.
69. The system of claim 68 comprising means for simultaneously displaying a history of said monetary status indicator over a predefined short time span and over a predefined long time span.
70. The system of claim 69 comprising means for selecting a maximum value of said critical value levels as said monetary status indicator.
71. The system of claim 70 comprising means for simultaneously displaying a history of said monetary status indicator over a predefined short time span and over a predefined long time span.
72. A financial securities monitoring system, comprising:
a. at least one financial monitor operative to measure a plurality of financial parameters of a securities market, each said financial parameter having a pre-defined baseline;
b. means for transforming each financial parameter to a function indicative of at least normal and critical levels of the parameter;
c. means for comparing each of said functions to a prescribed sequence of reference values and on the basis of the comparison generating for each parameter a corresponding critical value level;
. means for selecting one of said critical value levels as a monetary status indicator;
and e. means for displaying said monetary status indicator; wherein said means for transforming employs a function of the form:
y= 1/2 {1 - exp(-G(x-BL)2)}, wherein y represents the value of the function, x represents the measured value of the parameter, BL represents the baseline value for the parameter, and G represents a mapping parameter such that and , wherein y' represents the value of the function at x min, x min represents the minimum value of the parameter, y'' represents the value of the function at x max, and x max represents the maximum value of the parameter.
a. at least one financial monitor operative to measure a plurality of financial parameters of a securities market, each said financial parameter having a pre-defined baseline;
b. means for transforming each financial parameter to a function indicative of at least normal and critical levels of the parameter;
c. means for comparing each of said functions to a prescribed sequence of reference values and on the basis of the comparison generating for each parameter a corresponding critical value level;
. means for selecting one of said critical value levels as a monetary status indicator;
and e. means for displaying said monetary status indicator; wherein said means for transforming employs a function of the form:
y= 1/2 {1 - exp(-G(x-BL)2)}, wherein y represents the value of the function, x represents the measured value of the parameter, BL represents the baseline value for the parameter, and G represents a mapping parameter such that and , wherein y' represents the value of the function at x min, x min represents the minimum value of the parameter, y'' represents the value of the function at x max, and x max represents the maximum value of the parameter.
73. A financial securities monitoring system comprising:
a. at least one financial monitor, each monitor including means for measuring a financial parameter indicative of the status of the security being monitored, each financial parameter having a baseline value;
b. a computer operatively coupled to said financial monitor, said computer being programmed to determine for each financial parameter a corresponding critical value and to select one of said critical value levels as a monetary status critical value indicator; wherein, in determining said levels, each financial parameter is transformed to a function defined by pre-selected maximum and minimum parameter values and a pre-selected baseline value, said function exhibiting a maximum sensitivity for parameter values near said baseline; and c. means for simultaneously displaying a history of said monetary status indicator over a predefined short time span and over a predefined long time span; wherein said computer is programmed to transform said financial parameters by employing a member of the following group:
y = tanh (Y) Y = x (1 + x) wherein x represents the measured value of the financial parameter; BL represents the baseline value for the financial parameter; x max represents a predefined maximum value of the financial parameter; a, b, and w represent predefined numbers; and represents the value of the function, and y m represents a predefined maximum value of the function.
a. at least one financial monitor, each monitor including means for measuring a financial parameter indicative of the status of the security being monitored, each financial parameter having a baseline value;
b. a computer operatively coupled to said financial monitor, said computer being programmed to determine for each financial parameter a corresponding critical value and to select one of said critical value levels as a monetary status critical value indicator; wherein, in determining said levels, each financial parameter is transformed to a function defined by pre-selected maximum and minimum parameter values and a pre-selected baseline value, said function exhibiting a maximum sensitivity for parameter values near said baseline; and c. means for simultaneously displaying a history of said monetary status indicator over a predefined short time span and over a predefined long time span; wherein said computer is programmed to transform said financial parameters by employing a member of the following group:
y = tanh (Y) Y = x (1 + x) wherein x represents the measured value of the financial parameter; BL represents the baseline value for the financial parameter; x max represents a predefined maximum value of the financial parameter; a, b, and w represent predefined numbers; and represents the value of the function, and y m represents a predefined maximum value of the function.
74. The system of claim 73 wherein said computer is programmed to transform each financial parameter to a sigmoid function and to assign a critical value level to each parameter by comparing the respective values of the sigmoid functions to a prescribed set of reference values and assigning said critical value levels on the basis of the comparison.
75. A financial securities monitoring system comprising:
a. at least one financial monitor, each monitor including means for measuring a financial parameter indicative of the status of the security being monitored, each financial parameter having a baseline value;
b. a computer operatively coupled to said financial monitor, said computer being programmed to determine for each financial parameter a corresponding critical value and to select one of said critical value levels as a monetary status critical value indicator; wherein, in determining said levels, each financial parameter is transformed to a function defined by pre-selected maximum and minimum parameter values and a pre-selected baseline value, said function exhibiting a minimum sensitivity for parameter values near said baseline; and c. means for simultaneously displaying a history of said monetary status indicator over a predefined short time span and over a predefined long time span; wherein said computer is programmed to transform said financial parameters by employing a function of the form:
y= 1/2 (1 - exp(-G(x-BL)2)}, wherein y represents the value of the function, x represents the measured value of the parameter, BL represents the baseline value for the parameter, and G represents a mapping parameter such that and , wherein y' represents the value of the function at x min, x min represents the minimum value of the parameter, y'' represents the value of the function at x max, and x max represents the minimum value of the parameter.
a. at least one financial monitor, each monitor including means for measuring a financial parameter indicative of the status of the security being monitored, each financial parameter having a baseline value;
b. a computer operatively coupled to said financial monitor, said computer being programmed to determine for each financial parameter a corresponding critical value and to select one of said critical value levels as a monetary status critical value indicator; wherein, in determining said levels, each financial parameter is transformed to a function defined by pre-selected maximum and minimum parameter values and a pre-selected baseline value, said function exhibiting a minimum sensitivity for parameter values near said baseline; and c. means for simultaneously displaying a history of said monetary status indicator over a predefined short time span and over a predefined long time span; wherein said computer is programmed to transform said financial parameters by employing a function of the form:
y= 1/2 (1 - exp(-G(x-BL)2)}, wherein y represents the value of the function, x represents the measured value of the parameter, BL represents the baseline value for the parameter, and G represents a mapping parameter such that and , wherein y' represents the value of the function at x min, x min represents the minimum value of the parameter, y'' represents the value of the function at x max, and x max represents the minimum value of the parameter.
76. The system of claim 54 wherein said critical value levels are assigned in accordance with the following variants:
0 - (color of display background) No deviation from baseline 1 - (white-yellow) Little movement from baseline 2 - (yellow) Some deviation from baseline 3 - (yellow-orange) Greater deviation from baseline 4 - (orange) Considerable deviation from baseline - (red) Maximum deviation from baseline
0 - (color of display background) No deviation from baseline 1 - (white-yellow) Little movement from baseline 2 - (yellow) Some deviation from baseline 3 - (yellow-orange) Greater deviation from baseline 4 - (orange) Considerable deviation from baseline - (red) Maximum deviation from baseline
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| Application Number | Priority Date | Filing Date | Title |
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| US08/652,015 US5946666A (en) | 1996-05-21 | 1996-05-21 | Monitoring device for financial securities |
| US08/652,015 | 1996-05-21 | ||
| PCT/US1997/008578 WO1997044754A1 (en) | 1996-05-21 | 1997-05-20 | Monitoring device for financial securities |
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|---|---|
| CA2255575A1 true CA2255575A1 (en) | 1997-11-27 |
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|---|---|---|---|
| CA 2255575 Abandoned CA2255575A1 (en) | 1996-05-21 | 1997-05-20 | Monitoring device for financial securities |
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|---|---|
| US (1) | US5946666A (en) |
| EP (1) | EP0979473A4 (en) |
| JP (1) | JP2000511317A (en) |
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| CA (1) | CA2255575A1 (en) |
| WO (1) | WO1997044754A1 (en) |
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| Publication number | Priority date | Publication date | Assignee | Title |
|---|---|---|---|---|
| US4834107A (en) * | 1984-05-10 | 1989-05-30 | Sylvia Warner | Heart-related parameters monitoring apparatus |
| US4677552A (en) * | 1984-10-05 | 1987-06-30 | Sibley Jr H C | International commodity trade exchange |
| US4796639A (en) * | 1987-11-05 | 1989-01-10 | Medical Graphics Corporation | Pulmonary diagnostic system |
| JPH0219963A (en) * | 1988-07-08 | 1990-01-23 | Hitachi Ltd | Method and system for monitoring real time state |
| US5297031A (en) * | 1990-03-06 | 1994-03-22 | Chicago Board Of Trade | Method and apparatus for order management by market brokers |
| US5608620A (en) * | 1990-03-19 | 1997-03-04 | Lundgren; Carl A. | Method of eliciting unbiased forecasts by relating a forecaster's pay to the forecaster's contribution to a collective forecast |
| US5297032A (en) * | 1991-02-01 | 1994-03-22 | Merrill Lynch, Pierce, Fenner & Smith Incorporated | Securities trading workstation |
| US5355889A (en) * | 1992-06-09 | 1994-10-18 | Albert Eisenstein Health Care Foundation | Monitoring system for producing patient status indicator |
-
1996
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1997
- 1997-05-20 WO PCT/US1997/008578 patent/WO1997044754A1/en not_active Application Discontinuation
- 1997-05-20 AU AU31355/97A patent/AU727707B2/en not_active Ceased
- 1997-05-20 JP JP09542666A patent/JP2000511317A/en active Pending
- 1997-05-20 EP EP97926640A patent/EP0979473A4/en not_active Withdrawn
- 1997-05-20 CA CA 2255575 patent/CA2255575A1/en not_active Abandoned
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| AU727707B2 (en) | 2000-12-21 |
| AU3135597A (en) | 1997-12-09 |
| WO1997044754A1 (en) | 1997-11-27 |
| EP0979473A4 (en) | 2003-04-16 |
| JP2000511317A (en) | 2000-08-29 |
| US5946666A (en) | 1999-08-31 |
| EP0979473A1 (en) | 2000-02-16 |
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