% Generated by roxygen2: do not edit by hand
% Please edit documentation in R/methods.R
\name{plot.SCREENING}
\alias{plot.SCREENING}
\title{Peer performance screening plot}
\usage{
\method{plot}{SCREENING}(
  x,
  nblock = NULL,
  reference = NULL,
  band = 27.5,
  colorset = c(grDevices::gray(0), grDevices::gray(0.8), grDevices::gray(0.5)),
  ...
)
}
\arguments{
\item{x}{A \code{SCREENING} object.}

\item{nblock}{Optional number of equally-sized blocks into which the funds
(sorted by performance) are aggregated by averaging, as in Ardia and Boudt
(2018). Default: \code{nblock = NULL}, i.e. one bar per fund.}

\item{reference}{A logical value indicating whether the dashed
percentile-rank reference lines should be drawn. Default:
\code{reference = NULL}, i.e. drawn for within-group screening and omitted
for cross-group (\code{Y}-based) screening, where the within-group
percentile-rank benchmark does not apply. A single focal fund (cross-group
with one fund in \code{X}) is shown as a single stacked bar.}

\item{band}{Half-width (in percentage points) of the reference band drawn
around the central diagonal. Default: \code{band = 27.5}.}

\item{colorset}{Vector of three colors for the \eqn{\hat\pi^+},
\eqn{\hat\pi^0} and \eqn{\hat\pi^-} areas. Default:
\code{c(gray(0), gray(0.8), gray(0.5))}.}

\item{...}{Further graphical arguments passed to \code{\link[graphics]{barplot}}.}
}
\value{
Invisibly returns the (sorted, possibly aggregated) matrix of
ratios that is plotted.
}
\description{
Plot method for the \code{SCREENING} object returned by
\code{\link{alphaScreening}}, \code{\link{sharpeScreening}} and
\code{\link{msharpeScreening}}. It reproduces the peer performance
screening plot of Ardia and Boudt (2018): funds are sorted by their
performance measure and, for each fund, the estimated outperformance
(\eqn{\hat\pi^+}), equal-performance (\eqn{\hat\pi^0}) and underperformance
(\eqn{\hat\pi^-}) ratios are displayed as a horizontal stacked bar. The
dashed diagonal lines depict the naive percentile-rank benchmark
(\eqn{\hat\pi^0 = 0}); the gap between the black \eqn{\hat\pi^+} area and the
diagonal visualizes the luck correction.
}
\details{
If the screening was run with \code{screen_beta = TRUE}, the alpha
(first) coefficient is used.
}
\examples{
\donttest{
data("hfdata")
set.seed(1234)
sc <- alphaScreening(hfdata[, 1:30], control = list(nCore = 1))
plot(sc)
}
}
\references{
Ardia, D., Boudt, K. (2018).
The peer performance ratios of hedge funds.
\emph{Journal of Banking and Finance} \bold{87}, pp.351--368.
\doi{10.1016/j.jbankfin.2017.10.014}
}
\seealso{
\code{\link{alphaScreening}}, \code{\link{sharpeScreening}} and
\code{\link{msharpeScreening}}.
}
\author{
David Ardia and Kris Boudt.
}
\keyword{hplot}
