Derby 1 Day & 5 Day Calculation Process
The 1 day Derby and 5 day Derby winners are not calculated correctly (in my opinion). The 1 day Derby winner should be based on the current day, e.g. buy at the open of that day and sell at the close of that day.
As it is now the end of the previous day is used to calculate the 1 day (and I expect as well the 5 day) Derby winners. This is not accurate as it is 1 day of trading plus aftermarket. There can be an enormous difference in the performance because gapping between the close of the previous day and the open of the current day that the 1 day Derby winner is calculated on. This wouldn't mean as much to the 5 day Derby winner but would give a logical starting point at the open of day 1.
This is of little to no use to users because they would typically run a search based on the close of the day and then buy at the open the next day. This would also be a representative way of calculating the 1 day Derby winner and 5 day Derby Winner.
I posted this in the VectorVest Online Users Group and can be found by searching for #Derbywinners.
An example based on the March 13 1 day Derby winner calculation is attached to demonstrate how significant price change after the market closes and reopens can skew the results, that would not normally be attainable.