This script visualizes the relative performance of a primary asset against a benchmark composed of three reference assets. Here's how it works:
- User Inputs:
- Users specify ticker symbols for three reference assets (default: Platinum, Palladium, Rhodium).
- Data Retrieval:
- Fetches closing prices for the primary asset (the one the script is applied to) and the three reference assets.
- Normalization:
- Each asset's price is normalized by dividing its current price by its initial price at the start of the chart. This allows for performance comparison on a common scale.
- Benchmark Creation:
- The normalized prices of the three reference assets are combined to create a composite benchmark.
- Ratio Calculation:
- Computes the ratio of the normalized primary asset price to the combined normalized benchmark price, highlighting relative performance.
- Plotting:
- Plots this ratio as a blue line on the chart, showing the primary asset's performance relative to the benchmark over time.