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I think the greatest gift of Dan Bricklin (“father” of electronic spreadsheet) thiab Bill Gates to Investment Banking Mankind is the Excel spreadsheet software that allows analyst to not only create rock star financial and valuation models but also help present their analysis in some awesome pictorial format (graphs). With this, I thought why not a tutorial on most popular Investment Banking Graphs and charts. In this article I will discuss the following set of graphs – Download the Spreadsheet templates for all the graphs ntawm no # 1 – PE Chart This PE ratio is in essence a payback calculation: it states how many years’ earnings it will take for he investor to recover the price paid for the shares. PE (price to earnings) charts help us to understand the valuation multiple over time. Other things being equal, when comparing the price of two stocks in the same sector the investor should prefer the one with the lowest PE. If you are new to the PE ratios, you may refer to this valuation primer article on Relative Valuations What is a PE Chart PE chart helps the investors visualize the valuation multiple of Stock or Index over a period of time. Piv txwv, the below PE graph of a company named Foodland Farsi is depicted over a period of March’02 until March’07. Interpretation of PE Charts - Historically Foodland Farsi has traded a an average PE multiple of 8.6x - The standard deviation of the PE multiple signifies the volatility of the PE multiple. - We note that Foodland Farsi has traded within the range formed by the Upper (defined as Average PE + 1 Std Dev = 12.2x) and the Lower (Average PE – 1 Std Dev = 4.9x) - We note that PE mutiple for period after June’06 has crossed the upper standard deviation line signifying higher valuation multiple. Why it is useful? - This chart is fairly useful because this provides the historical valuation details in a quick and easy format. - You may take not more than 30 seconds to interpret such a graph. Dataset for PE Chart Let us now prepare the PE chart as provided above. Please download the PE Chart dataset here. The dataset includes the following - - Date - Historical Stock Prices - EPS estimate (forward) – Please note that this data may not be available in the public forum. You may use Bloomberg, Factset, Factiva (all are paid versions) to get access to such data Building a PE Chart Kauj ruam 1 – Calculate the PE Ratio Since we already know the Price of the Stock and the Forward EPS, calculate the PE ratio of the stock for each date. Kauj ruam 2 – Calculate the Standard Deviation of PE Calculating Standard Deviation is fairly easy in Excel. You can use the formula STDDEV to calculate the standard deviation of the stock. Do not forget to use absolute references so as to display the same standard deviations across the dates. Kauj ruam 3 – Calculate the Average PE Calculate the Average PE of the stock using the formula AVERAGE and also use absolute references as the average of the data should remain constant across all the dates. Kauj ruam 4 – Calculate the UPPER and the LOWER range Calculate the UPPER and the LOWER range by using the following formula - UPPER = Average PE + Standard Deviation - LOWER = Average PE – Standard Deviation Kauj ruam 5 – Plot the Graph using the following data - - Forward PE - Average PE - UPPER - LOWER Kauj ruam 6 – Format the Graph This is very important as formatting can really win if you can highlight the important areas and make it more intuitive to comprehend. Like the PE charts, you can also make Price to Book Value Chart (P/BV), Price to Sales or Price to Cash flow Charts. #2 – PE Band Chart What is PE Band Chart? Like the PE Ratio Graph, PE Band is also computed from the historical PE ratios for each individual stock/Index. The line plotted from the average highest PE will form the upper PE Band, whereas the average lowest PE will form the lower PE Band. The middle PE Band will be derived from the mean of the Upper and Lower Band. Interpretation of PE Band Chart The above chart can be interpreted as follows - Currently, the Price Line (colored in GREEN) is touching the Maximum PE Band Line of 20.2x. This implies that the stock is trading at its maximum PE and may be overvalued! - The upper band reflects the Historical Maximum Price of the stock if the stock would have traded at its Maximum PE. Piv txwv, If we trace backwards the Maximum PE Band Line till March’02, we find that the stock would have traded at Rs600/- if the PE during that period would was 20.2x - Tseem, we note that the stock has touched the lowest PE Band of 5.0x many a times in the last 5 years period. It denotes an ideal opportunity to buy the stock. Why PE Band Chart is Useful? - The advantage of the PE Band is its consideration for both the fundamental factor (i.e. profitability) and the historical trading pattern of a stock. - The use of PE Band is especially meaningful for listed companies, which have profitable track records. - For a stock with stable earnings, its price tends to move within the PE Band. Hauv, the stock price in one extreme tends move to the other extreme within the Band - Also note that PE Band Chart is different from PE ratio graph as we note that the Y axis represents the price of the stock rather than the PE multiple. - This PE Band Chart is effective because this graph is able to denote both the PE Bands (valuation) and the corresponding Prices. Along with the PE ratio graphs, this makes a case for taking a valuation call on stocks. PE Band Chart Data set The PE Band Chart Data Set is no different from the one that we used earlier. Infact is the same! We require the following - - Historical Stock Prices - Dates - Forward EPS Building a PE Band Chart Kauj ruam 1 – Calculate the Forward PE Ratio for the Historical Dataset Kauj ruam 2 – Calculate the average, maximum and the minimum of the PE ratios Kauj ruam 3 – Find the Implied Prices using the following formula Calculate the implied prices using the formula below - Price (corresponding to Average) = Average PE x (Historical EPS) - Price (corresponding to maximum) = Maximum PE x (Historical EPS) - Price (corresponding to minimum) = Minimum PE x (Historical EPS) Kauj ruam 4 – Plot the graph using the following - Stock Price - Implied Average Price - Implied Maximum Price - Implied Minimum Price Kauj ruam 5 – Format the Graph You can make Band Charts for other set of valuation multiples like EV/EBITDA (Enteprise Value to EBITDA), P/CF etc #3 – Football Field Graph What is Football Field Chart? Sometimes it is easier for us to represent the data in floating columns or bars in which columns (or bars) float spanning a region from minimum to the maximum values. Below is a sample Football Field column chart. Interpretation of the Football Field Chart (above) - The data represents fair valuation (Price/Share) of the company under different assumptions and valuation methods. - Using DCF the valuation of the firm comes out to be $30/share (pessimistic case) thiab $45 under (most optimistic case). - The highest fair valuation of the company is $50/share when using Replacement Cost method of valuation - Txawm li cas los, the lowest fair valuation comes out to be $20/share when using M&A Transaction Comp valuation. Data for Football Field Chart Let us assume that you have been provided with the following set of data. You want to represent the below data in the best possible graphical format. There can different ways of making graphs on such a data, Txawm li cas los, they may not provide great insights when we make a regular line graph or the bar graphs. Below are the representation (poor) of these regular graphs - Line Graph The problem with this representation is that it is very difficult to interpret this data. Column Graph Again the same problem that it is very difficult to interpret such data. With this it is now easy to understand that the solution lies in making the floating column or the bar chart. Building a Football Field Chart Kauj ruam 1 – Create the Two series with Minimum and Range The first series represents the minimum and the second represents the range (maximum – minimum). Please see below the two series on which we create our graph. Kauj ruam 2 – Choose Stacked Column Chart The secret to making the floating chart is to use the column chart in an effective way by selecting the “stacked column chart” using two series. You will get the below chart Kauj ruam 3 – Make the “minimum” columns Invisible! Select the minimum column bars (blue color) and from the top menu change the color to “No Fill” With this you will get the graph below Kauj ruam 4 – Format the graph and make it awesome! - Change the x axis to reflect the valuation methodology - Remove the Legends on the right hand side (Range and Minimum) - Change the color of the bars to suit your color taste (please don’t make the columns as pink, its Investment Banking you know!) # 4 – Scenario Graphs What are Scenario Graphs? Sometimes It is important for us to accept the fact that understand that valuation is not a very scientific approach. It depends on assumptions and scenarios. While we value a stock, you may make different set of assumptions while preparing a financial model – projecting income statement, balance sheet and cash flows. While it is important for us to take the most expected case while we do the valuation, it is equally important to show the impact of different cases like what if the tax rates go down or what if the production moves up more than expected etc. These scenarios can be easily built using Financial Models. You can use the following financial models for your reference - Please see below a sample Scenario Graph - Interpretation of Scenario Graph - We note from above that the base case valuation for the stock XYZ is $300 - The scenario graphs provide us with additional inputs on downsides with respect to the following - If price of the product decreases then the fair price of the stock would go down by $17. - If corporate taxes are higher, then the fair price of the stock would move further down by another $28 - If raw material prices move up, then fair prices of the stock would move down even more by another $25. - If we consider all the pessimistic cases (an event when all three negative events happen together), then the fair valuation of the stock would drop to $230 per share - Likewise, you can find the additional inputs on the upsides – If we consider all the optimistic cases (Higher prices, higher taxes and lower raw material costs), the fair price of the stock would move up to $410 per share Dataset for the Scenario Graphs The dataset required for this graph is shown as below. The table below is arrived at after inputting new assumptions in your Financial Model and recalculating the fair share price. Building a Scenario Graph We will assume that you already have the data like the one above. With this let us look at the steps involved to build the Scenario Graphs - Kauj ruam 1 – Add two columns X and Y in the data-set (tricky and most important) - This graph builds on the Football Field Graph (#3) that we earlier made. - In this we again use the Column Stacked Graph where Y data gets stacked over the X data. - In addition to this we make the X dataset as invisible so that we get the floating Y dataset. - Piv txwv, If you closely observe the scenario graph – downside scenario – Price decrease shows a floating visible data of $17 (Y data) and immediately below this dataset is the invisible $283 (X Data). Kauj ruam 2 – The completed X and Y dataset should look something like below Kauj ruam 3 – Prepare the Column Stacked Graph on the two dataset X and Y Please note that we are not preparing the chart on the original set of data. We are preparing the chart on the converted dataset (X and Y) Kauj ruam 4 – Make the X dataset hidden Hide the X dataset by selecting the columns and choosing “No Fill” from the Formatting options in the menu Kauj ruam 5 – Format the Graph and be awesome! Conclusions As we note above that there can be different graphical representation of stock valuation. The primary reason we use such graphs is to comply save time for the clients and make the research report or pitch book a time saving and effective document. You will find the four types of valuation graphs in majority of the tier-1 brokerage firm research reports. I had worked earlier at JPMorgan as an equity research analyst and found the Football field graph and Scenario graph to be most useful representation for clients. Yog dab tsi tom ntej? Yog hais tias koj kawm tej yam tshiab los sis enjoyed ncej, thov tawm mus saib hauv qab. Qhia rau kuv paub li koj xav. Tsaug ntau thiab saib xyuas.
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Sílim go bhfuil an bronntanas is mó de Dan Bricklin (“athair” de scarbhileog leictreonach) agus Bill Gates go Infheistíochta Is Baincéireachta Mankind an Bogearraí scarbhileog Excel ligeann anailísí a chruthú, ní hamháin múnlaí réalta carraig airgeadais agus luacháil ach freisin cabhrú n-anailís i láthair i roinnt bhformáid pictiúrtha uamhnach (graif). Leis, Shíl mé cén fáth nach teagaisc ar an chuid is mó tóir Infheistíochta Baincéireachta Graif agus cairteacha. San Airteagal seo, beidh mé ag plé a dhéanamh ar an tsraith seo a leanas de ghraif – Íoslódáil na teimpléid Scarbhileog do na graif anseo # 1 – PE Cairt Tá an cóimheas PE go bunúsach a ríomh payback: Deir sé blianta cé mhéad’ tuilleamh a thógfaidh sé air infheisteoir a ghnóthú an praghas a íocadh ar na scaireanna. PE (praghas a thuilleamh) charts help us to understand the valuation multiple over time. Other things being equal, nuair a dhéantar comparáid ar an praghas de dhá stoic san earnáil chéanna ba chóir an infheisteoir fearr an ceann a bhfuil an PE is ísle. Má tá tú nua chun na cóimheasa PE, is féidir leat tagairt a dhéanamh don airteagal primer luachála ar Luachálacha choibhneasta Cad is Cairt PE Cuidíonn chairt PE an infheisteoirí visualize an iliomad luacháil Stoc nó Innéacs thar thréimhse ama. Mar shampla, tá an graf Corpoideachais thíos de chuid cuideachta ainmnithe Foodland Farsi léirítear thar thréimhse Márta’02 go dtí Márta’07. Léirmhíniú Charts PE - Go stairiúil Foodland Farsi Tá trádáil iolrú ar PE ar an meán de 8.6x - An diall caighdeánach an iliomad PE signifies an luaineacht an il PE. - Tugaimid faoi deara go bhfuil Foodland Farsi thrádáil laistigh den raon déanta ag an Uachtarach (a shainmhínítear Meán PE + 1 Std Dev = 12.2x) agus an Íochtarach (Meán PE – 1 Std Dev = 4.9x) - Tugaimid faoi deara go PE mutiple don tréimhse i ndiaidh Meitheamh’06 Tá thrasnaigh an líne diall caighdeánach uachtair signifying il luachála níos airde. Cén fáth go bhfuil sé úsáideach? - Tá an chairt seo cothrom úsáideach mar go dtugann an sonraí luachála stairiúil i bhformáid tapaidh agus éasca. - Is féidir leat níos mó ná 30 soicind den sórt sin a graf a léirmhíniú. Sonraí CCD do PE Cairt Lig dúinn a ullmhú anois an chairt PE mar a fhoráiltear thuas. Le do thoil íoslódáil an PE Chart dataset here. Áirítear ar an tacar sonraí seo a leanas - - Dáta - Praghsanna Stoc Stairiúil - Meastachán EPS (ar aghaidh) – Tabhair faoi deara nach féidir na sonraí seo a bheith ar fáil sa bhfóram poiblí. Is féidir leat úsáid a bhaint Bloomberg, Factset, Factiva (gach leagan atá íoctha) chun rochtain ar shonraí den sórt sin a fháil Tógáil Cairt PE Céim 1 – Ríomh an Cóimheas PE Ó tá a fhios againn cheana féin ar an Praghas an Stoc agus an Aghaidh EPS, ríomh an cóimheas Corpoideachais an stoc gach dáta. Céim 2 – Ríomh Diall Caighdeánach PE Ríomh Diall Caighdeánach atá éasca go leor i Excel. Is féidir leat úsáid an STDDEV fhoirmle a ríomh an diall caighdeánach an stoic. Ná déan dearmad a úsáid a bhaint as tagairtí iomlán ionas a thaispeáint ar an diallais céanna caighdeánach ar fud na dátaí. Céim 3 – Ríomh PE Meán Ríomh Meán Corpoideachais an stoc ag baint úsáide as an MEÁN fhoirmle agus a úsáid chomh maith tagairtí iomlán mar mheán na sonraí ba chóir fanacht seasmhach ar fud na na dátaí. Céim 4 – Ríomh UPPER agus an raon LOWER Ríomh UPPER agus an raon LOWER trí úsáid a bhaint as an bhfoirmle seo a leanas - UPPER = Meán PE + Diall Caighdeánach - LOWER = Meán PE – Diall Caighdeánach Céim 5 – Breac an Graf ag baint úsáide as na sonraí seo a leanas - - Ar Aghaidh - Meán PE - UPPER - LOWER Céim 6 – Formáid an Graf Tá sé seo an-tábhachtach mar is féidir formáidiú a bhuachan i ndáiríre más féidir leat aird a tharraingt ar na réimsí tábhachtacha agus é a dhéanamh níos iomasach a thuiscint. Cosúil leis an cairteanna PE, is féidir leat a dhéanamh freisin Praghas Luach Leabhair Cairt (P / BV), Praghas do Díolacháin nó Praghas do Charts sreabhadh airgid. #2 – Cairt PE Band Cad é Cairt PE Band? Cosúil leis an Graf PE Cóimheas, PE Band is also computed from the historical PE ratios for each individual stock/Index.The line plotted from the average highest PE will form the upper PE Band, ach an meán Corpoideachais is ísle a bheidh mar ísle PE Band. Beidh an lár Corpoideachas Banna a dhíorthaítear ó na meán an Uachtarach agus Íochtarach Band. Léiriú ar Cairt PE Band Is féidir leis an chairt thuas a léiriú mar a leanas - Faoi láthair, an Líne Praghas (daite i GREEN) Tá teagmháil leis an Band Líne Uasmhéid PE de 20.2x. Ciallaíonn sé seo go bhfuil an stoc trádála ar a Corpoideachais uasta agus féadfar é a dtugann siad! - Léiríonn an banna uachtarach an Uasmhéid Stairiúil Praghas ar an stoc dá mbeadh an stoc a bheith thrádáil ag a Corpoideachais uasta. Mar shampla, Má leanfaimid ar gcúl an Líne Uasmhéid PE Band till March'02, feicimid go mbeadh an stoc a bheith thrádáil ar Rs600 /- más rud é go mbeadh go raibh an PE linn na tréimhse sin 20.2x - Chomh maith leis sin, tugaimid faoi deara go bhfuil an stoc i dteagmháil léi an PE Banna is ísle de 5.0x mhéad uair sa deireanach 5 bliain tréimhse. Seasann sé deis iontach a cheannach ar an stoc. Cén fáth go bhfuil Cairt PE Band Úsáideacha? - Is é an buntáiste a bhaint as Banna PE a bhreithniú do na fachtóir bunúsacha (I.E. brabúsacht) agus an patrún trádála stairiúil ar stoic. - Tá brí háirithe do chuideachtaí atá liostaithe ar an úsáid a bhaint as PE Band, a bhfuil taifid rian brabúsach. - Le haghaidh stoc le tuilleamh cobhsaí, Is nós le a praghas a bhogadh laistigh den Band PE. I bhfocail eile,, bíonn an stoc praghas i bhfíor amháin bogadh chuig an-mhór eile laistigh den Band - Chomh maith leis sin faoi deara go bhfuil Cairt PE Band difriúil ó PE cóimheas graf a tugaimid faoi deara gur ionann an ais Y an praghas ar an stoc seachas an il PE. - Is é seo an Cairt PE Band éifeachtach toisc go bhfuil an graf in ann a thagairt dá an Bandaí PE (luacháil) agus na Praghsanna comhfhreagracha. Chomh maith leis na graif cóimheas PE, a dhéanann an cás as glaoch luacháil ar stoic. PE Band leagtha Cairt Sonraí Is é an Cairt PE Band Set sonraí aon éagsúla ó an ceann a úsáid againn níos luaithe. Is Infact an gcéanna! Táimid ag teastáil ar an méid seo a leanas - - Praghsanna Stoc Stairiúil - Dátaí - EPS ar aghaidh Tógáil Cairt PE Band Céim 1 – Calculate the Forward PE Ratio for the Historical Dataset Céim 2 – Calculate the average, uasta agus an t-íosmhéid de na cóimheasa PE Céim 3 – Find the Implied Prices using the following formula Ríomh na praghsanna intuigthe ag baint úsáide as an bhfoirmle thíos - Price (a fhreagraíonn do Meán) = Meán PE x (EPS Stairiúil) - Price (a fhreagraíonn do uasmhéid) = Uasmhéid PE x (EPS Stairiúil) - Price (a fhreagraíonn do íosta) = Íosta PE x (EPS Stairiúil) Céim 4 – Plot the graph using the following - Stoc Praghas - Intuigthe Meánphraghas - Intuigthe Praghas uasta - Praghas Íosta Intuigthe Céim 5 – Formáid an Graf Is féidir leat a dhéanamh Charts Band chun sraith eile de iolraithe luachála mhaith EV / EBITDA (Enteprise Luach do EBITDA), P / CF srl #3 – Peil Field Graf Cad é Cairt Peile Field? Uaireanta, bíonn sé níos éasca dúinn chun ionadaíocht a dhéanamh ar na sonraí i gcolúin nó barraí snámh ina gcolúin (nó barraí) snámhphointe chuimsíonn réigiún ó ar a laghad leis na luachanna uasta. Anseo thíos tá sampla cairt colún Peile Field. Léiriú ar an Cairt Peile Field (thuas) - Is ionann na sonraí luachála cothrom (Praghas / Comhroinn) de chuid na cuideachta faoi thoimhdí éagsúla agus modhanna luachála. - Ag baint úsáide as DCF Tagann luacháil an ghnólachta amach a bheith $ 30 / sciar (cás Doirbh) agus $45 faoi (an chuid is mó cás dóchasach). - Is é an luach cóir is airde de chuid na cuideachta $ 50 / sciar nuair a úsáid modh Costas Athsholáthair luachála - Mar sin féin, Tagann an luacháil is ísle cóir amach a bheith $ 20 / sciar nuair a úsáid M&A Idirbheart Comp luacháil. Sonraí do Cairt Peile Field Lig dúinn glacadh leis go bhfuil tú ag fáil leis an tsraith sonraí seo a leanas. Ba mhaith leat chun ionadaíocht a dhéanamh ar na sonraí thíos sa bhformáid is fearr is féidir ghrafach. Tá Is féidir bealaí éagsúla graf a dhéanamh ar a leithéid de shonraí, áfach, Ní féidir leo a chur ar fáil léargais mór nuair a dhéanann muid líneghraf rialta nó na graif barra. Anseo thíos tá an ionadaíocht (bocht) de na graif rialta - Líne Graf Is é an fhadhb le hionadaíocht seo go bhfuil sé an-deacair a léirmhíniú na sonraí seo. Graf Colún Arís ar an bhfadhb chéanna go bhfuil sé an-deacair na sonraí sin a léirmhíniú. Leis seo, tá sé éasca anois a thuiscint go luíonn an réiteach a dhéanamh ar cholún ar snámh nó bharrachairt. Tógáil Cairt Peile Field Céim 1 – Cruthaigh an dhá shraith le Íosta agus Raon Is ionann an chéad sraith an t-íosmhéid agus is ionann an dara ceann an raon (uasmhéid – íosmhéid). Féach thíos an dá shraith ar a chruthú dúinn ár graf thoil. Céim 2 – Roghnaigh Cairt Colún Cruachta Is é an rún a dhéanamh ar an chairt snámh a bhaint as an cairt colún ar bhealach éifeachtach ag roghnú an “cairt colún cruachta” ag baint úsáide as dhá shraith. Beidh tú a fháil ar an chairt thíos Céim 3 – Déan an “íosmhéid” colúin Dofheicthe! Roghnaigh na barraí colún íosta (dath gorm) agus ón roghchlár barr a athrú ar an dath a “Níl Líon” Leis seo beidh tú a fháil ar an graf thíos Céim 4 – Formáid an graf agus a dhéanamh uamhnach é! - Athraigh an ais x chun an mhodheolaíocht luachála - Bain an Legends ar thaobh na láimhe deise (Raon agus Íosta) - Athraigh an dath na barraí a oireann do blas dath (le do thoil nach a dhéanamh ar na colúin mar bándearg, a Baincéireachta Infheistíochta a fhios agat!) # 4 – Cás Graif Cad iad Cás Graif? Uaireanta go bhfuil sé tábhachtach dúinn glacadh leis an bhfíric go bhfuil a thuiscint nach bhfuil an luacháil cur chuige an-eolaíochta. Braitheann sé ar bhoinn tuisceana agus cásanna. Cé luach againn ar stoic, Is féidir leat a dhéanamh a leagtar éagsúla de bhoinn tuisceana le linn múnla airgeadais a ullmhú – teilgean ráiteas ioncaim, bileog agus sreabhadh airgid cothromaíocht. Cé go bhfuil sé tábhachtach dúinn a chur ar an cás is súil linn a dhéanann muid ar an luacháil, tá sé chomh tábhachtach a thaispeáint ar an tionchar a cásanna éagsúla cosúil le cad má théann na rátaí cánach síos nó cad má bhogann an táirgeadh ar bun níos mó ná ag súil leis, srl. Is féidir na cásanna a thógáil go héasca ag baint úsáide as Múnlaí Airgeadais. Is féidir leat úsáid a bhaint na múnlaí airgeadais seo a leanas do do tagartha - Féach thíos le Graf Cás sampla le do thoil - Léiriú ar Chás Graph - Tugaimid faoi deara ó thuas go bhfuil an luacháil cás bonn le haghaidh an stoc XYZ $300 - Soláthraíonn na graif scéal dúinn ionchur breise ar downsides maidir leis seo a leanas - Má laghduithe praghas an táirge ansin bheadh an praghas cothrom an stoic dul síos $17. - Má tá cánacha corparáideacha níos airde, ansin bheadh an praghas cothrom an stoic bogadh a thuilleadh síos ag eile $28 - Má bhogann praghsanna amhábhar suas, ansin bheadh praghsanna cothrom an stoic bogadh síos fiú níos mó ag eile $25. - Má mheasann againn ar fad na cásanna Doirbh (ócáid nuair a tharlaíonn na trí imeachtaí diúltach le chéile), ansin bheadh an luacháil cothrom na stoic titim go $230 in aghaidh na scaire - Mar an gcéanna, Is féidir leat teacht ar na hionchuir breise ar an upsides – Má mheasann againn ar fad na cásanna dóchasach (Praghsanna níos airde, cánacha níos airde agus costais níos ísle amhábhar), Bheadh an praghas cothrom an stoic bogadh suas go dtí $410 in aghaidh na scaire Sonraí CCD don Graif Cás Is é an tacar sonraí is gá chun an graf a thaispeántar thíos. Tá an tábla thíos tháinig ar tar éis a ionchur toimhdí nua i do Samhail Airgeadais agus atháireamh ar an praghas a roinnt cothrom. Ag Tógáil Graf Cás Déanfaimid glacadh leis go bhfuil na sonraí ar nós an ceann thuas agat cheana. Leis an ligean dúinn breathnú ar na céimeanna atá i gceist a thógáil ar an Graif Cás - Céim 1 – Add two columns X and Y in the data-set (tricky agus is tábhachtaí) - Tógann an graf seo ar an Field Peile Graph (#3) níos luaithe déanta againn. - Sa linn a úsáid arís ar an Graf Cruachta Colún nuair a fhaigheann sonraí Y Céatadáin thar na sonraí X. - Chomh maith leis sin a dhéanamh linn ar an X sonraí CCD a dofheicthe ionas go bhfaigheann muid an snámh Y tacar sonraí. - Mar shampla, If you closely observe the scenario graph – scéal downside – Léiríonn laghdú Praghas sonraí ar snámh le feiceáil ar $17 (Agus sonraí) agus láithreach faoi bhun an tacar sonraí is dofheicthe $283 (X Sonraí). Céim 2 – Ba chóir an críochnaithe X agus Y sonraí CCD cuma rud éigin cosúil le thíos Céim 3 – Ullmhaigh an Colún Cruachta Graf ar an dá tacar sonraí X agus Y Tabhair faoi deara nach bhfuil muid ag ullmhú an chairt ar an tsraith bunaidh sonraí. Táimid ag ullmhú an chairt ar an tacar sonraí thiontú (X agus Y) Céim 4 – Déan an X sonraí CCD bhfolach Folaigh an X sonraí CCD ag roghnú na colúin agus a roghnú “Níl Líon” as na roghanna Formáidiú sa roghchlár Céim 5 – Formáid an Graf agus a bheith uamhnach! Conclúidí Mar tugaimid faoi deara thuas gur féidir a bheith ann léiriú grafach éagsúla luacháil stoic. Is é an chúis go príomha úsáidimid graif den sórt sin a chomhlíonadh, ach amháin am do na cliaint agus a chur ar an tuarascáil taighde nó leabhar pháirc am a shábháil agus doiciméad éifeachtach. Beidh tú teacht ar an ceithre chineál graif luachála i is mó de na sraith-1 tuarascálacha taighde gnólacht bróicéireachta. I had worked earlier at JPMorgan as an equity research analyst and found the Football field graph and Scenario graph to be most useful representation for clients. Cad Aghaidh? Má fhoghlaim tú rud éigin nua nó taitneamh as an bpost, please leave a comment below. Bíodh a fhios agam cad a cheapann tú. Raibh míle maith agaibh agus cúram a ghlacadh.