The compare function tool is used to compare the market movements of two or more different symbols simultaneously. Comparing multiple symbols simultaneously is done for a couple of reasons. For example, it is an easy way to visualize market health as a whole. This can be accomplished by pulling up a SPY (which tracks the S&P 500) and adding the DIA (Tracks Dow) and QQQ (Tracks Nasdaq) symbols. The result is one single chart containing easy to read, pertinent information spanning the entire market.
The example below shows a chart containing the SPY, DIA and QQQ.
Another popular use for a comparison chart is comparing two companies within the same sector. For example, in the chart below, there is a comparison between two automobile companies; General Motors and Ford. This demonstrates the same theory as in the above example, but it narrows the snapshot down to a single sector instead of the entire market as a whole.
It is important to note that when you add a symbol to a chart, the vertical axis will change from price to percentage. The percentage shown is the price movement for whatever period is currently visible on the chart. This is absolutely necessary. If you switch it back to price, the chart will collapse unless the price values of the symbols are very close to each other. Below is an example of a Google and Apple comparison chart when switched back to price. Their prices are about $500 apart. Therefore when you switch to price, both data series flatten out and the chart loses its effectiveness
How to use in TradingView
To add a comparison to your current data series/chart, simply click on theCompare or Add symbolbutton(displayed as plus sign)on the toolbar along the top of the chart.
Several popular symbols are already listed, which can beselectedin order to be added to the chart. However any symbol can be added.If you would like a symbol that is not on the default list, you can type the symbol into the search box, hover on search result and click onSame % scaleoption.
Several popular symbols are already listed, which can beselectedin order to be added to the chart. However any symbol can be added.If you would like a symbol that is not on the default list, you can type the symbol into the search box, hover on search result and click onSame % scaleoption.
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FAQs
The compare tool enables the comparative analysis of multiple entities on a single metric. This tool helps you to see the big picture - by enabling you to compare all of your companies, clients, or franchisees in a benchmark group.
What is the compare tool for files? ›
WinMerge is an Open Source differencing and merging tool for Windows. WinMerge can compare both folders and files, presenting differences in a visual text format that is easy to understand and handle.
How do I use Microsoft compare tool? ›
Compare two versions of a document
On the Review menu, select Compare Documents. In the Original document list, select the original document. In the Revised document list, browse to the other version of the document, and then select OK.
What is the benefit of comparison tool? ›
Product comparison tools not only help consumers make informed decisions by providing detailed information on features, prices, and reviews, but they also offer numerous advantages for businesses. They enhance the overall customer experience, which in turn builds trust and loyalty.
What is compare used for? ›
The comparative form is used to compare two people, ideas, or things. The superlative form with the word "the" is used to compare three or more. Comparatives and superlatives are often used in writing to hedge or boost language.
How do you use the compare function? ›
Use the COMPARE function to compare two strings and return a numeric value indicating the result. string1, string2 specify the strings to be compared. justification is either L for left-justified comparison or R for right-justified comparison. (Any other value causes a run-time warning, and 0 is returned.)
Can I compare two Word documents and highlight differences? ›
“Compare” is an option under the “Review” tab in Word. It makes comparing two documents simple. This shows the revisions between the original and revised document.
Can ChatGPT compare two documents? ›
You can upload two documents into ChatGPT-4 and request a comparison. However, with a very generic prompt, you will get back very generic information.
How to check the difference between two files? ›
To use this diffchecker online, follow the below easy steps:
- Write or paste the content in the above input boxes.
- Or, upload files from the local device in different formats.
- Click the Check Diff button.
Importance of Using Comparison in Your Essay
Because comparisons highlight similarities and proportions in things, they are great for making a point.
According to Festinger, people rely on social comparisons to accurately assess their abilities, traits, and attitudes. In cases where your comparisons are not effective or lead to inaccuracies in your self-judgment, you might find yourself in situations that are too difficult or complex for your current skill level.
What is the use of compare method? ›
The compare() method is a static method of the Objects class. This method takes in two objects and a Comparator that compares the input objects. The method returns zero if the objects are identical. If the objects are not identical, the method uses the comparator to compare them.
What does compare () do? ›
compare() is a public member function of string class. It compares the value of the string object (or a substring) to the sequence of characters specified by its arguments. The compare() can process more than one argument for each string so that one can specify a substring by its index and by its length.
How do you use the compare command? ›
Compares a specified drawing file with the current drawing file, highlighting the differences with color within revision clouds. Displays the Select a Drawing to Compare dialog box. After you specify a comparison drawing, the DWG Compare toolbar is displayed and docked at the top of the drawing area.
How do you use the database compare tool? ›
- Open Database Compare. ...
- On the Setup tab, next to the Compare box, use the Browse. ...
- Next to the To box, select the Browse. ...
- In the Report Options section, choose the database objects (tables, queries, macros, modules, reports, forms, or pages) you want compared by checking the boxes next to them.
![What is the Compare Tool for? (3)](https://i0.wp.com/www.tradingview.com/\"s3.amazonaws.com/cdn.freshdesk.com/data/helpdesk/attachments/production/43304847814/original/45qb2PAVYJuJ6PQhsroM5NJof3vHsn6XvA.png?1647260749\" "What is the Compare Tool for? (3)")
