KR102230070B1 - Apparatus, method and computer program for selecting stok items and calculating stock index - Google Patents

Abstract

The device that selects constituent stocks and derives stock price index is a selection unit that selects at least one constituent stock from a plurality of constituent stocks, and derives the floating stock ratio according to the ratio of non-current stocks to the total share of each of the selected constituent stocks. And, based on the derived floating stock ratio, a market capitalization derivation unit that derives the comparative market cap and reference market cap for the selected constituent stocks, and a stock price index based on the derived comparative market cap and reference market cap. It includes a stock price index derivation unit.

Description

Device, method and computer program for selecting constituent stocks and deriving stock price index {APPARATUS, METHOD AND COMPUTER PROGRAM FOR SELECTING STOK ITEMS AND CALCULATING STOCK INDEX}

The present invention relates to an apparatus, a method, and a computer program for selecting constituent stocks and deriving a stock price index.

The stock price index is an index created to understand the movement of the stock market, and it is an index that allows the overall judgment of the economic situation. Conventionally, there are several stock price indices. Representative stock price indices include Korea's KOSPI, KOSPI 200, KOSDAQ Composite Index, NASDAQ Composite Index, and S&P500. Such as Standard & Poor's 500 Index. For example, the KOSPI 200 index is an index of the market cap to indicate how much the market cap of 200 stocks representing Korea has changed as of January 3, 1990.

Each stock price index not only represents the situation of the corresponding stock market, but also represents the economic situation of a country. The stock price index plays a role in allowing you to easily and accurately grasp the flow of the stock market, and is the basis for developing financial products, index funds, ETFs, ELS, OTC options, swaps, warrants, other derivatives, and insurance products. .

An object of the present invention is to provide an apparatus, a method, and a computer program for selecting constituent stocks and deriving a stock price index in order to provide stable investment information for domestic and foreign stock investors.

In addition, the present invention is intended to provide an apparatus, a method, and a computer program for selecting constituent stocks and deriving a stock price index in order to be applied to various financial investment products for domestic and foreign investors.

However, the technical problem to be achieved by the present embodiment is not limited to the technical problems as described above, and other technical problems may exist.

As a means for achieving the above-described technical problem, an embodiment of the present invention provides a selection unit that selects at least one constituent stock from a plurality of constituent stocks, and the ratio of non-current stocks to the total share of each of the selected constituent stocks. Based on the derived floating stock ratio, a market capitalization derivation unit that derives the comparative market capitalization and the reference market capitalization for the selected constituent stocks, and the derived comparative market capitalization and reference market capitalization A device for selecting a constituent stock including a stock price index derivation unit that derives a stock price index based on and deriving a stock price index may be provided.

Another embodiment of the present invention is the step of selecting at least one constituent stock from a plurality of constituent stocks, deriving a floating stock ratio according to the non-current stock ratio to the total share of each of the selected constituent stocks, the derivation Deriving a comparative market capitalization for the selected constituent stocks based on the calculated floating stock ratio, deriving a reference market capitalization for the selected constituent stocks, and based on the derived comparative market capitalization and reference market capitalization. It is possible to provide a method of selecting a constituent stock including the step of deriving a stock price index and deriving a stock price index.

In another embodiment of the present invention, when a computer program is executed by a computing device, at least one constituent stock is selected from a plurality of constituent stocks, and the non-current stock ratio to the total share of each of the selected constituent stocks is selected. The floating stock ratio is derived, the comparative market capitalization and the reference market capitalization for the selected constituent stocks are derived based on the derived floating stock ratio, and the stock price index is calculated based on the derived comparative market capitalization and the reference market capitalization. It is possible to provide a computer program stored on a medium that contains a sequence of instructions to derive.

The above-described problem solving means are merely exemplary and should not be construed as limiting the present invention. In addition to the above-described exemplary embodiments, there may be additional embodiments described in the drawings and detailed description of the invention.

According to any one of the above-described problem solving means of the present invention, by providing stable investment information for domestic and foreign stock investors, selecting a constituent item to provide investors with more objective judgment indicators on market conditions and investment items. And a stock price index derivation apparatus, method, and computer program. In addition, the present invention can provide an apparatus, a method, and a computer program for selecting constituent stocks and deriving stock price indexes that can be applied to various financial investment products through an independent industry classification and stock selection algorithm.

1 is a block diagram of an apparatus for selecting a constituent stock and deriving a stock price index according to an embodiment of the present invention.
FIG. 2 is a flowchart of a method of selecting a constituent stock and deriving a stock price index in the apparatus for selecting a constituent stock and deriving a stock price index according to an embodiment of the present invention.
3 is an exemplary diagram for explaining a change in market capitalization when a constituent stock changes according to an embodiment of the present invention.

Hereinafter, embodiments of the present invention will be described in detail with reference to the accompanying drawings so that those of ordinary skill in the art can easily implement the present invention. However, the present invention may be implemented in various different forms and is not limited to the embodiments described herein. In the drawings, parts irrelevant to the description are omitted in order to clearly describe the present invention, and similar reference numerals are attached to similar parts throughout the specification.

Throughout the specification, when a part is said to be "connected" with another part, this includes not only "directly connected" but also "electrically connected" with another element interposed therebetween. . In addition, when a part "includes" a certain component, it means that other components may be further included, and one or more other features, not excluding other components, unless specifically stated to the contrary. It is to be understood that it does not preclude the presence or addition of any number, step, action, component, part, or combination thereof.

In the present specification, the term "unit" includes a unit realized by hardware, a unit realized by software, and a unit realized using both. Further, one unit may be realized by using two or more hardware, or two or more units may be realized by one piece of hardware.

In this specification, some of the operations or functions described as being performed by the terminal or device may be performed instead in a server connected to the terminal or device. Likewise, some of the operations or functions described as being performed by the server may also be performed by a terminal or device connected to the server.

Hereinafter, an embodiment of the present invention will be described in detail with reference to the accompanying drawings.

1 is a block diagram of an apparatus for selecting a constituent stock and deriving a stock price index according to an embodiment of the present invention. Referring to FIG. 1, an apparatus 100 for selecting a constituent stock and deriving a stock price index may include a selection unit 110, a market cap derivation unit 120, and a stock price index derivation unit 130.

The apparatus 100 for selecting a constituent stock and deriving a stock price index proposed by the present invention may derive a stock price index differentiated from the existing one through a unique algorithm. The stock price index that can be derived by the present invention is distinguished from the conventional stock price index in that it can provide an independent industry classification code, detailed conditions for stock item evaluation, application of an evaluation algorithm, and a portfolio composition method.

In addition, the stock price index that can be derived by the present invention provides investment-related information for domestic and foreign investors, and can be applied to various financial investment products such as ETFs.

The selection unit 110 aims to select constituents for each core industry consisting of sustainable companies with world-class technology or excellent potential in the blue ocean business field according to global technological innovation. As a result, at least one constituent item may be selected from a plurality of constituent items. The plurality of constituent items may be, for example, domestic and foreign listed companies.

The selection unit 110 may configure a constituent universe by selecting at least one constituent item from the plurality of constituent items based on, for example, a preset universe selection criterion and a universe exclusion criterion.

The preset universe selection criterion may include at least one of, for example, whether it is listed on a preset trading market and whether the market capitalization is higher than or equal to a preset ranking. The preset trading market in which constituent stocks are listed may be, for example, a securities market or a KOSDAQ market. Whether the market capitalization is higher than or equal to a preset ranking may be, for example, when the market capitalization of a stock is within the top 500.

The preset universe exclusion criterion may include whether an average transaction price corresponding to a preset period is less than a threshold value. For example, stocks with an average transaction value of less than 1 billion won over 60 days can be excluded from the constituent stock universe.

In addition to the universe exclusion criteria described above, there may be preset universe exclusion criteria. For example, stocks related to preferred stocks, ships, real estate investment companies, Exchange Traded Funds (ETFs), Real Estate Investment Trusts (REITs), or Special Purpose Acquistion Companies (SPACs) may be excluded from the constituent universe. Stocks designated as management stocks, stocks designated as investment-sponsored stocks, or stocks that have been delisted can be excluded from the constituent stock universe. Stocks with a floating stock ratio of less than 10% can be excluded from the constituent stock universe. Stocks that have not passed 3 months since new listing or stocks that have not passed 3 months since bypass listing may be excluded from the constituent stock universe. However, even if the stock has not passed 3 months since the new listing or the stock has not passed 3 months since the bypass listing, if the market capitalization is within the top 50, it may not be excluded from the constituent stock universe. Stocks with an average sales of less than 20 billion won in the last three fiscal years and net profit in the two recent fiscal years may be excluded from the constituent stock universe. Other stocks that are judged to be unsuitable as constituent stocks may be excluded from the constituent stock universe.

The selection unit 110 may finally select at least one constituent item from the configured constituent item universe, for example, based on a predetermined final selection criterion. The final selected constituent items may be 50.

The preset final selection criterion may include, for example, at least one of a preset category classification criterion, a market capitalization, and a score converted by a preset score conversion method.

The preset classification criteria for stocks may follow the Global Industry Classification Standard (GICS) and the industry classification criteria of an independent system. According to GICS, constituents can be classified into any one of the sectors: IT, healthcare, consumer economy, consumer staples, materials, industrial goods, finance, telecommunications services, utilities, energy or real estate. After classifying the stocks that make up the constituent stock universe according to the preset stock classification criteria, the stocks with the highest market cap for each industry can be selected as constituent stocks with priority.

The preset point conversion method is based on the month in which the constituents were selected or the previous month of the month in which constituents were reselected, the annual average sales growth rate for the last three years, the annual average expected sales growth rate for the next two years, and the total assets average for the last three years. It may be based on at least one of the growth rate and the trading value of the last 60 trading days. As a pre-set point conversion method, based on the month in which the constituents were selected or the previous month of the month when constituents were reselected, the annual average sales growth rate for the last three years, the annual average expected sales growth rate for the next two years, and the total assets average for the last three years. The overall score can be calculated by reflecting the increase rate and the transaction value of the last 60 trading days as the same weight. The preset score conversion method may be, for example, to give a score differently according to which quintile the annual average sales growth rate for the last three years of each constituent item belongs. For example, if constituent A's annual average sales growth rate over the last three years is 0-20% in the top, 5 points are given, 4 in the top 20-40%, or 3 points in the top 40-60%. Points can be given by giving, or by giving 2 points for the top 60 to 80%, or 1 point for the top 80 to 100%. The constituent items may be finally selected in the order of the highest score based on the score converted by the preset score conversion method.

The market capitalization derivation unit 120 may derive the floating stock ratio according to the non-current stock ratio with respect to the total stock ratio of each of the selected constituent stocks. The market capitalization derivation unit 120 may derive the floating stock ratio according to the non-current stock ratio to the total stock ratio of each of the selected constituent stocks, for example, through Equation 1 below. When deriving the floating stock ratio, the decimal point can be rounded off.

Here, the calculation of the ratio of non-current stocks to the proportion of total stocks may include stocks of shares held by the largest shareholder and related persons. However, stocks held for investment purposes such as funds may be excluded from the shares held by the largest shareholder and related persons. Calculation of the ratio of non-current stocks to the total share of stocks may include treasury stocks, shares held in treasury stock trusts, and shares in employee stock ownership associations. Calculation of the ratio of non-current stocks to the total share of stocks may include stocks held in financial periods that are substantially restricted for sale, such as protection deposits, held through investment conversion. The calculation of the ratio of non-current stocks to the total share of stocks may include stocks of shares held by individuals or corporations other than the largest shareholders and related parties for the purpose of participation in management. The calculation of the ratio of non-current stocks to the share of total stocks may include stocks of shares held by the government, government-invested institutions, or local governments for purposes other than investment.

The market cap derivation unit 120 may derive a comparative market cap and a reference market cap for the selected constituent stock based on the derived floating stock ratio.

The market cap derivation unit 120 may further derive an index inclusion ratio for the selected constituent stock based on the derived floating stock ratio, the market capitalization of the selected constituent stock, and the number of the selected constituent stocks. The Index Inclusion Factor allows each of the final selected constituent stocks to be incorporated with the same weight in deriving the stock price index.

The exponential inclusion ratio (IIF _i ) for the selected constituent stock i may be derived using, for example, Equation 2 below.

Here, FF _i may be the floating stock ratio at time t of the stock i. MC _i may be the market capitalization based on the closing price on the day before the regular change date for stock i. N may be the number of constituent stocks.

The market capitalization derivation unit 120 calculates the comparative market capitalization in the same weighted method based on the derived index inclusion ratio, the derived floating stock ratio, the number of listed common stocks for each of the selected constituent stocks, and the closing price for each of the selected constituent stocks. Can be derived.

The comparative market capitalization (M _t ) for the selected constituent stock may be derived, for example, using Equation 3 below.

Here, IIF _i may be the index inclusion ratio (eg, index inclusion weight) of the stock i. FF _i may be the current share ratio of stock i at time t. S _i,t may be the number of shares listed in common stock of stock i. S _i,t may include the number of shares to be listed in common stock of the item i and the number of shares scheduled to be listed according to the event. P _i,t may be the closing price of stock i at time t.

The market capitalization derivation unit 120 is based on the comparative market capitalization at the first time point, the change in the comparative market capitalization for the period between the first and second time points, and the reference market capitalization at the first time point at a second time point. The standard market capitalization of can be derived.

In order to prevent price distortion due to fluctuations in the number of shares, the base market capitalization may be continuously modified to reflect changes in the number of shares used to derive the stock price index, for example, changes in the number of listed shares, changes in the current ratio, etc. .

If there is no change in the closing price of the constituent stocks, the stock price index at time t and the stock price index at time t+1 may be the same. Accordingly, the following Equation 4 may be established between the comparative market capitalization and the reference market capitalization at the time point t and the time point t+1.

M_t+1은 t+1 시점에서의 비교시가총액의 변동액일 수 있다. 비교시가총액의 변동액은

또는

로 계산될 수 있다. B_t+1은 t+1 시점에서의 기준시가총액일 수 있다.Here, M _t may be the comparative market capitalization at time t. B _t may be the reference market capitalization at time t.

M _t+1 may be a change in the comparative market capitalization at the time t+1. The change in the comparative market capitalization is

or

Can be calculated as B _t+1 may be the reference market capitalization at the time t+1.

_{Accordingly, the reference market capitalization (B t + 1} ) at the time t+1 for the selected constituent stock may be derived, for example, using Equation 5 below.

M_t+1)은 10,000(원)*5,000(주)=50,000,000(원)으로 도출될 수 있다. 수학식 5에 따라 도출된 기준시가총액(B_{t + 1})은 100,000,000*(100,000,000+50,000,000)/(100,000,000)=150,000,000(원)으로 도출될 수 있다.For example, consider a stock price index consisting only of A stocks with 10,000 stocks with a closing price of 10,000 won on the previous day. In this case, both the comparative market cap (M _t ) and the reference market cap (B _t ) can be derived as 10,000 (won) * 10,000 (shares) = 100,000,000 (won). After the market closes, an additional 5,000 stocks are listed, resulting in a total of 15,000 stocks in stock A, and the closing price is maintained at KRW 10,000. In this case, since the comparative market capitalization (M _t+1 ) can be derived as 10,000 (won) * 15,000 (shares) = 150,000,000 (won), the change in the comparative market capitalization (

M _t+1 ) can be derived as 10,000 (won) * 5,000 (shares) = 50,000,000 (won). _{The reference market capitalization (B t + 1} ) derived according to Equation 5 may be derived as 100,000,000*(100,000,000+50,000,000)/(100,000,000)=150,000,000 (won).

After that, if the closing price rises 30% to 13,000 won, the comparative market capitalization (M _t+1 ) can be derived as 13,000 (won) * 5,000 (shares) = 195,000,000 (won). Using the revised base market capitalization (B _t+1 ) of 150,000,000 won, the stock price index (I _t ) can be derived as 1,300. In this case, it can be seen as reflecting the increase in the closing price of stock A. On the other hand, using the unmodified initial standard market capitalization (B _t ) of 100,000,000 won, the stock price index (I _t ) is derived as 1,950, indicating a distorted price. Therefore, by deriving the reference market capitalization according to Equation 5, it is possible to prevent distortion of the price due to the change in the number of shares.

The stock price index derivation unit 130 may derive a stock price index based on the derived comparative market capitalization and the reference market capitalization. The stock price index proposed by the present invention may consider the free float rate in consideration of the possibility of investment in the constituent stock.

The stock price index derivation unit 130 may derive a stock price index based on a ratio between the derived comparative market cap and the derived reference market cap. The stock price index (I _t ) of day t may be derived using, for example, Equation 6 below.

Here, M _t may be the comparative market capitalization of the day t, and may be the market capitalization calculated by reflecting the closing price of the day t. B _t may be the base market capitalization on day t. _{The stock price index (I t} ) can be calculated using the stock price index of January 4, 2016 as the base index of 1,000.

The selection unit 110 may reselect the constituent items at predetermined period intervals. The preset period interval may be 6 months. The constituent stock may be reselected on the last business day of the week, including the expiration date of KOSPI200 futures options in June, based on the last business day of May. The constituent stocks are reselected from the last business day of November, and may be the last business day of the week including the expiration date of KOSPI200 futures options in December.

The floating stock ratio can be re-derived based on the contents of the business report, semi-annual report, quarterly report, etc. reported by the end of May or November. The ratio of re-derived floating stocks can be reflected when reselecting constituent stocks. The re-derived floating stock ratio can be reflected only when the floating stock ratio is changed by more than 5% from the initially set ratio or the ratio applied immediately before (Buffer Rule).

The market capitalization derivation unit 120 may further derive a change in the number of shares for the reselected constituent stocks.

The market cap derivation unit 120 may re-derive the comparative market cap and the reference market cap based on the derived change in the number of shares.

The apparatus 100 for selecting a constituent stock and deriving a stock price index may be executed by a computer program stored in a medium including a sequence of instructions for deriving a stock price index. When the computer program is executed by a computing device, at least one constituent stock is selected from a plurality of constituent stocks, the floating stock ratio is derived according to the non-current stock ratio to the total share of each of the selected constituent stocks, and the derivation It includes a sequence of instructions to derive the comparative market capitalization and the reference market capitalization for the selected constituent stocks based on the floating stock ratio, and to derive a stock price index based on the derived comparative market capitalization and reference market capitalization. I can.

2 is a flowchart of a method of selecting a constituent stock and deriving a stock price index in the apparatus for selecting a constituent stock and deriving a stock price index according to an embodiment of the present invention. The method of selecting a constituent stock and deriving a stock price index in the constituent stock selection and stock price index derivation apparatus 100 shown in FIG. 2 is performed in the apparatus 100 for selecting a constituent stock and deriving a stock price index according to the embodiment shown in FIG. 1. It includes steps that are processed in a time series. Therefore, even if omitted below, it is also applied to a method of deriving a stock price index performed by the device 100 for selecting a constituent stock and deriving a stock price index according to the embodiment illustrated in FIG. 1.

In step S210, the constituent stock selection and stock price index derivation apparatus 100 may select a constituent stock.

In step S220, the device 100 for selecting a constituent stock and deriving a stock price index may derive a floating stock ratio according to the non-current stock ratio with respect to the proportion of the total stocks of each of the selected constituent stocks.

In step S230, the constituent stock selection and stock price index derivation apparatus 100 may derive a comparative market capitalization for the selected constituent stock based on the derived floating stock ratio.

In step S240, the constituent stock selection and stock price index derivation apparatus 100 may derive a reference market capitalization for the selected constituent stock.

In step S250, the constituent stock selection and stock price index derivation apparatus 100 may derive a stock price index based on the derived comparative market capitalization and the reference market capitalization.

In the above description, steps S210 to S250 may be further divided into additional steps or may be combined into fewer steps, according to an embodiment of the present invention. In addition, some steps may be omitted as necessary, or the order of steps may be switched.

3 is a diagram for explaining a change in market capitalization when a constituent stock changes according to an embodiment of the present invention. Referring to FIG. 3, the reference market cap may be modified by collectively reflecting the change in the market cap for each event.

The base market capitalization change 310 can be calculated by applying the floating stock ratio.

The comparative market capitalization can be calculated by reflecting the change in the number of shares (320) for calculating the comparative market capitalization in the table to the number of listed shares of the constituent stocks and applying the floating share ratio.

The change 330 of the reference market capitalization at the time of the merger and division of a company may be derived, for example, using Equation 7 below.

M_t+1)을 반영한다. 기업 분할에 의한 신설기업도, 존속기업과 마찬가지로 상장일(s 일)에는 해당 종목에 의한 비교시가총액(M_t) 및 기준시가총액(B_t)의 변화를 주가 지수 도출시 반영하지 않는다. t+1 일에서의 기준시가총액(B_t+1)을 도출할 때에, 신설기업의 상장일(s 일)의 종가를 기준가격으로 삼아, 주가 지수를 도출한다. 기업 분할 후 존속기업의 재상장일(t 일)부터 신설기업의 상장일(s 일)까지의 기간 동안은 신설기업의 시가총액만큼을 주가 지수 도출에 반영할 수 있다.If the company is divided 340 and the listing date of the surviving company and the new company after the division is different, the market capitalization can be derived as follows. For companies surviving after spin-off, changes in the comparative market capitalization (M _t ) and the base market capitalization (B _t ) by the relevant stock are not reflected when deriving the stock price index on the relisting date (t day). When deriving the base market capitalization (B _t+1 ) on the day t+1, use the closing price on the relisting date of the surviving company (day t) as the base price, and the change in the comparative market capitalization by the relevant stock (

M _t+1 ) is reflected. Likewise for surviving companies, changes in the comparative market capitalization (M _t ) and base market capitalization (B _t ) by the relevant stock are not reflected when deriving the stock price index. When deriving the base market capitalization (B _t+1 ) on the day t+1, the stock price index is derived using the closing price on the listing date (s day) of the new company as the base price. During the period from the re-listing date of a surviving company (t day) to the listing date of a new company (s day) after the spin-off, the new company's market capitalization can be reflected in the stock price index derivation.

If a company is divided and a surviving company and a new company are listed at the same time after the division, the stock price index can be derived based on the date of simultaneous listing.

In the case where the division of the company and the merger occur at the same time, the stock price index can be derived by using the closing price of the latest trading day as the base price on the business day following the division date (t day) (t+1 day).

The method of deriving a stock price index in the device for selecting a constituent item and deriving a stock price index described with reference to FIGS. 1 to 3 is in the form of a computer program stored in a medium executed by a computer or a recording medium including instructions executable by a computer. Can also be implemented. In addition, the method of deriving a stock price index in the stock price index derivation apparatus described with reference to FIGS. 1 to 3 may be implemented in the form of a computer program stored in a medium executed by a computer.

Computer-readable media can be any available media that can be accessed by a computer, and includes both volatile and nonvolatile media, removable and non-removable media. Further, the computer-readable medium may include a computer storage medium. Computer storage media includes both volatile and nonvolatile, removable and non-removable media implemented in any method or technology for storage of information such as computer readable instructions, data structures, program modules or other data.

The above description of the present invention is for illustrative purposes only, and those of ordinary skill in the art to which the present invention pertains will be able to understand that other specific forms can be easily modified without changing the technical spirit or essential features of the present invention. will be. Therefore, it should be understood that the embodiments described above are illustrative and non-limiting in all respects. For example, each component described as a single type may be implemented in a distributed manner, and similarly, components described as being distributed may also be implemented in a combined form.

The scope of the present invention is indicated by the claims to be described later rather than the detailed description, and all changes or modified forms derived from the meaning and scope of the claims and their equivalent concepts should be construed as being included in the scope of the present invention. do.

100: Device for selecting constituent stocks and deriving stock price index
110: selection
120: market capitalization derivation unit
130: Stock price index derivation unit

Claims (17)

In the device that selects constituent stocks and derives the stock price index,
A selection unit for selecting at least one constituent item from a plurality of constituent items;
To derive the floating stock ratio according to the non-current stock ratio to the total share of each of the selected constituent stocks, and derive the comparative market capitalization and the reference market capitalization for the selected constituent stocks based on the derived floating stock ratio. Market capitalization derivation unit; And
A stock price index derivation unit that derives a stock price index based on the derived comparative market capitalization and the reference market capitalization
Including,
The market capitalization derivation unit is a ratio between the comparison market capitalization at a first time point and the comparison market capitalization at the first time point by applying a change in the comparative market capitalization for a period between the first and second time points. To derive the reference market cap at the second time point by adjusting the reference market cap at the first time point based on,
The selection unit constructs a constituent universe by selecting at least one constituent item from the plurality of constituent items based on a preset universe selection criterion and a universe exclusion criterion, and finally selects at least one constituent item from the constituent stock universe. and,
The universe exclusion criterion includes whether the floating stock ratio of each of the plurality of constituent stocks is less than a preset threshold,
The selection unit reselects the constituent items based on the ratio of floating stocks re-derived for each of the plurality of constituent stocks at predetermined period intervals. The method of claim 1,
The universe selection criterion includes at least one of whether it is listed on a preset trading market and whether the market capitalization is higher than or equal to a preset ranking,
The universe exclusion criterion further comprises whether or not the average transaction price corresponding to a preset period is less than a threshold value. The method of claim 2,
The selection unit finally selects at least one constituent item from the constituent stock universe based on a predetermined final selection criterion,
The final selection criterion includes at least one of a preset category classification criterion, a market capitalization, and a score converted by a preset score conversion method. The method of claim 1,
The market capitalization derivation unit further derives an index inclusion ratio for the selected constituent stocks based on the derived floating stock ratio, the market capitalization of the selected constituent stocks, and the number of the selected constituent stocks,
Based on the derived index inclusion ratio, the floating stock ratio, the number of listed common stocks for each of the selected constituent stocks, and the closing price for each of the selected constituent stocks, each of the selected constituent stocks derives the stock price index. In the device, the comparative market capitalization is derived by the same weighting method so as to be incorporated with the same specific gravity. delete The method of claim 1,
The stock price index derivation unit is to derive the stock price index based on a ratio between the derived comparative market capitalization and the derived reference market capitalization. delete The method of claim 1,
The market capitalization derivation unit further derives a change in the number of stocks based on at least one of a change in the number of listed stocks, the number of stocks scheduled to be listed, and a floating stock ratio for the reselected constituent stocks,
To re-derive the comparative market capitalization and the reference market capitalization based on the derived change in the number of shares. In the method of selecting constituent stocks and deriving the stock price index,
Selecting at least one constituent item from a plurality of constituent items;
Deriving a floating stock ratio according to the non-current stock ratio with respect to the total stock ratio of each of the selected constituent stocks;
Deriving a comparative market capitalization for the selected constituent stocks based on the derived floating stock ratio;
Deriving a reference market capitalization for the selected constituent stocks; And
Including the step of deriving a stock price index based on the derived comparative market capitalization and the reference market capitalization,
The step of deriving the reference market capitalization,
Based on the ratio between the comparison market capitalization at the first time point and the comparison market capitalization at the first time point by applying the variation of the comparison market capitalization for the period between the first time point and the second time point. The reference market cap at the second time point is derived by adjusting the reference market cap at the time point 1,
The selecting of the constituent items may include: configuring a constituent universe by selecting at least one constituent item from the plurality of constituent items based on a predetermined universe selection criterion and a universe exclusion criterion; And
And finally selecting at least one constituent item from the constituent stock universe,
The universe exclusion criterion includes whether the floating stock ratio of each of the plurality of constituent stocks is less than a preset threshold,
The method further comprising the step of reselecting the constituent stocks at predetermined period intervals based on the ratio of floating stocks re-derived for each of the plurality of constituent stocks. The method of claim 9,
The universe selection criterion includes at least one of whether it is listed on a preset trading market and whether the market capitalization is higher than or equal to a preset ranking,
The universe exclusion criterion further comprises whether the average transaction price corresponding to a preset period is less than a threshold value. The method of claim 10,
The step of selecting the constituent items,
Further comprising the step of finally selecting at least one constituent item from the constituent stock universe based on a predetermined final selection criterion,
The final selection criterion is to include at least one of a predetermined stock classification criterion, a market capitalization, and a score converted by a preset score conversion method. The method of claim 9,
The step of deriving the comparative market capitalization,
Deriving an index inclusion ratio for the selected constituent stock based on the derived floating stock ratio, the market capitalization of the selected constituent stock, and the number of the selected constituent stocks, and
Based on the derived index inclusion ratio, the floating stock ratio, the number of listed common stocks for each of the selected constituent stocks, and the closing price for each of the selected constituent stocks, each of the selected constituent stocks derives the stock price index. The step of deriving the comparative market capitalization by the same weighting method so that it is incorporated into the same weight.
The method comprising a. delete The method of claim 9,
The step of deriving the stock price index,
The method of deriving the stock price index based on the ratio between the derived comparative market capitalization and the derived reference market capitalization. delete The method of claim 9,
Deriving a change in the number of stocks based on at least one of a change in the number of listed stocks, the number of stocks scheduled to be listed, and a current stock ratio for the reselected constituent stocks; And
Re-deriving the comparative market capitalization and the reference market capitalization based on the derived change in the number of shares
The method further comprising. In a program stored in a computer-readable recording medium comprising a sequence of instructions for selecting a constituent stock and derive a stock price index,
When the program is executed by a computing device,
Selecting at least one constituent item from a plurality of constituent items,
The floating stock ratio is derived according to the non-current stock ratio to the total stock ratio of each of the selected constituent stocks,
Based on the derived floating stock ratio, the comparative market capitalization and the reference market capitalization for the selected constituent stocks are derived,
A sequence of instructions for deriving a stock price index based on the derived comparative market capitalization and the reference market capitalization,
Based on the ratio between the comparison market capitalization at the first time point and the comparison market capitalization at the first time point by applying the variation of the comparison market capitalization for the period between the first time point and the second time point. The reference market cap at the second time point is derived by adjusting the reference market cap at the time point 1,
Construct a constituent universe by selecting at least one constituent item from the plurality of constituent items based on a preset universe selection criterion and a universe exclusion criterion, and finally selecting at least one constituent item from the constituent item universe,
The universe exclusion criterion includes whether the floating stock ratio of each of the plurality of constituent stocks is less than a preset threshold,
The program stored in the computer-readable recording medium further comprising a sequence of instructions for reselecting the constituent items at predetermined period intervals based on the ratio of floating stocks re-derived for each of the plurality of constituent items.

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