> For the complete documentation index, see [llms.txt](https://docs.atraderlife.com/llms.txt). Markdown versions of documentation pages are available by appending `.md` to page URLs; this page is available as [Markdown](https://docs.atraderlife.com/courses/excel-tips/spread-trade.md).

# How to combine a spread trade with PMI

In this post I am going to show an example on how you can combine data from same industry/ different industries and compare it with ISM report to see if we can find some entries. We can apply this to any equities, indices, commodities and so on.

In this case I am going to use JP Morgan and Goldman

First we acquire the data ( from yahoo finances for ex) by month

We get only the Adj Close data.

Then we divide the bigger one to the lower one and we apply the formula to all our rows.

![](/files/-MbCjOsIwege1FUnzdwV)

We can apply some trends line, moving averages or other TA indicators.

Then we take the PMI data from the ISM, and we put it together with our spread trade

![](/files/-MbCjRHQcs8pPkTtswUA)

I uploaded the excel file as well in case you want to use it as an example 

{% file src="/files/-MbCjK\_XaukxTvHiD3nZ" %}
Download - Spread trade example
{% endfile %}


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