ShareOn

Logo
Users enter the amount they can invest...
... and we calculate their risk tolerance based on market factors.
We display a unique selection of stocks based on a user's risk tolerance.
We show the profits of safe investing by showing how much their money could make in the S&P 500

Inspiration

Our previous difficulties in entering the world of investing allowed us to come up with the idea of making an application that made entering the world of investing much easier.

What it does

It asks the user for how much money they are willing to spend on investing. Using this information, as well as macro-economic variables, we will guide and educate new investors.

Guide: Show unique selection of stocks that align with their current risk tolerance.

Educate: Demonstrates to users the benefits of safe investing by showing how their money would fare in a long-term investment in the S&P 500 using a dynamic graph.

How we built it

We used React native using the expo framework. We utilized multiple APIs about the US Department of Commerce's yearly budget and 3 month Treasury Bills Interest Rates to determine the state of the market. We also utilized data tables compiled from Yahoo Finance, which were processed in R to calculate the volatility of each stock. 5 years of historic S&P 500 data was also utilized to show users the values of safe investing.

Challenges we ran into

Developing a mobile application using an Android emulator on the PC would cause issues due to them freezing, crashing, and running slowly. Incorporating multiple APIs and data frames, each with their own formatting, took a lot of time as well. We were also less experienced with front-end development, meaning that a lot of time was being wasted on researching simple functions and using the process of trial and error until the product looked good- something that wouldn't be an issue if we were experienced.

Accomplishments that we're proud of

Processing thousands of data points to a concise and clear output is something that is a point of pride. However, the biggest point of pride is the algorithm we developed for risk analysis which utilizes conceptual knowledge of finance and practical knowledge of statistics.

What we learned

There will be points in a project where you believe that everything is over, but you should never give up because all it takes is one lucky break after more perseverance to be successful.

What's next for ShareOn

User Authentication

Fine-tuning the risk analysis algorithm by adding more data sources and tweaks to the formula.

API Development so our algorithm can help more people join the world of finance

Built With

Submitted to

HackUTD IX

Created by

I worked on setting up the development environment for the application and creating the front-end template.

Rishi Bhojwani
I worked front-end designing the growth projection page.

Hyrum Moses
I worked as a backend developer and implemented the APIs and Risk Tolerance Algorithm

Houston Holman
I was a back-end developer on this project. I was responsible for compiling data of the daily performance of 31 stocks over the course of the past year from Yahoo Finance. Using R, I aggregated the data, cleaned the variables, and performed standard deviation operations for each stock ticker to give each stock a volatility index. The volatility index would then be normalized, and this data would then be factored, labeled, and exported. This new dataset would be imported into the ShareOn software and compared with the risk tolerance of the user. Since both data sets are normalized, direct comparison is possible. The 3 stocks with the closest volatility index to the risk tolerance would then be shown to the user as the best stocks for their current financial situation.

Ritvik Chilakamarthy

Updates

Ritvik Chilakamarthy started this project — Nov 13, 2022 11:45 AM EST

Leave feedback in the comments!

Log in or sign up for Devpost to join the conversation.