About ByteTrend
Definitions
Every term you'll meet on ByteTrend, in plain English. The scoring page covers the score mechanics in full.
The score
ByteTrend score
A 0–5 trend score: the count of five yes/no trend tests an asset passes. Calculated daily on two timescales (Daily and Weekly) and two price series (Local and CAPR), giving four scores per asset. See The ByteTrend Score.
Trend regime
A five-way classification layered on the score: Leading Trend, Emerging Trend, Weakening Trend, Bear Trend or Neutral. The named regimes require the asset to sit at a 30-week price extreme, so they are deliberately rare — most assets, most days, are Neutral. Conditions are tabled on the scoring page.
Score sparkline
The miniature chart beside each score in the asset tables, showing the score's recent path — flat at 5 reads very differently from freshly arrived at 5.
Consecutive weeks at 5 / at 0
How long an asset has held the maximum (or minimum) score without interruption. Long streaks at 5 mark durable leadership; long streaks at 0 mark entrenched downtrends.
Relative performance
CAPR Currency-Adjusted Price Relative
The asset's USD price divided by the MSCI World index level. Both sides of the ratio are in US dollars, so currency moves cancel out; what remains is pure relative performance. A rising CAPR means the asset is outperforming the global equity benchmark; a falling CAPR means it's lagging. It is a performance measure, not a valuation measure — a "cheap" asset and an outperforming asset are different things.
MSCI World
The broad global developed-market equity index ByteTrend uses as its benchmark for all relative (CAPR) calculations.
Under the hood
Moving average MA
The average closing price over a fixed window, recalculated every day. ByteTrend uses a long/short pair on each timescale: 200-day and 30-day (Daily), 200-week and 30-week (Weekly). The long average describes the underlying trend; the short average describes recent direction.
Last touch high / low
The fifth scoring rule. Within a rolling window (20 days on the Daily timescale, 20 weeks on the Weekly), did price more recently touch the top of its range or the bottom? Touching the high more recently is trend-confirming.
Adjusted close
The price series after adjusting for corporate actions such as stock splits. All ByteTrend scores, moving averages, highs/lows and drawdowns are computed on adjusted prices, so a 10-for-1 split doesn't masquerade as a 90% crash.
Risk and range
Drawdown
How far price sits below its rolling high, as a percentage — e.g. a 52-week drawdown of −20% means the price is a fifth below its highest point of the past year. Calculated on split-adjusted prices so corporate actions don't register as crashes.
% Dev from 30W high / low
The distance between today's level and the highest (or lowest) level of the past 30 weeks, as a percentage. 0% from the high means the asset is at a 30-week high — the condition the trend regimes key on. Shown for both Local and CAPR series.
% Dev from 200W high / 200W MA
Longer-horizon stretch measures: distance from the 200-week high and from the 200-week moving average. Useful for judging how extended or depressed an asset is relative to its multi-year range.
Annualised volatility 30W
How much the asset's returns have varied over the past 30 weeks, scaled to an annual rate. Higher volatility means larger day-to-day swings for the same trend — useful for judging position sizing and how much noise to expect in the score.
Vol Cat volatility category
Low, Medium or High — the asset's 30-week volatility ranked against every other asset on the day. The bottom decile is Low, the top decile High, everything between Medium. It's a relative measure, so the boundaries move with the market.
Market cap USD
The company's total equity value converted to US dollars — the default sort order of the asset tables.