A tool to create create your own passive indexes with auto rebalancing
Create your own passive index for sophisticated investing. Since I couldn’t find passive funds, i created an app which has following functionalities:
– all the NSE/BSE existing indices are available to invest in.
– Passive strategies are independent entities. For example, to evaluate volatility of X numbers of stocks from give list of stocks (e.g. Nifty 100).
– Can clone the existing index and edit it (weights, stocks as well as strategies) and create unique combinations by mixing strategies, stocks and stock weights.
– It also shows the past performance of the created index using the selected strategy. Metrics like 1Y, 3Y, 5Y, 10Y returns, rolling returns for these duration, risk assessments (std deviation), etc. and user can select the benchmark as well if he/she wants compensation. Shows in graphical format.
– Create your own passive index with custom as well as existing strategies and publish it openly or keep them private.
– Auto rebalancing based on passive strategies. For example, if we have Nifty 100 low volatility 30 index, at certain intervals, it will automatically rebalance based on the volatility assessment of Nifty 100 stocks.
– Can set the auto rebalancing interval (weekly, monthly, quarterly, etc).
– With this, the main problem is the lot size. For example a single lot of Nifty 100 low volatility 30 index currently costs 1.1L as of now. Which is expensive to start with.
I am using Zerodha APIs. I am planning to make this public, so Any suggestions on the features? Would you use this? Thanks.