Let's Calculate Portfolio Percentages with SUMIF Function!
How can we calculate the sum of portfolio percentages by investment type?
Can you provide the steps to use SUMIF function for this calculation?
Calculation of Portfolio Percentages by Investment Type
To calculate the sum of portfolio percentages by investment type, we can use the SUMIF function in Excel. This function helps us to add up values based on a specified criteria. In this case, each investment type has a corresponding portfolio percentage that needs to be added up.
When using the SUMIF function, we specify the range where the criteria will be checked, the criteria itself, and the range from which values will be summed up. In our scenario, we want to sum the 'Current Percent of Portfolio' column entries from the Investment Detail worksheet that match the 'Investment Type' specified on the Summary worksheet.
The formula to be entered in cell C3 on the Summary worksheet will look like this:
=SUMIF(InvestmentDetail!B2:B25, A3, InvestmentDetail!C2:C25)Here's a breakdown of the formula:
- InvestmentDetail!B2:B25: This range represents the 'Investment Type' column on the Investment Detail worksheet.
- A3: This cell contains the specified 'Investment Type' on the Summary worksheet.
- InvestmentDetail!C2:C25: This range includes the 'Current Percent of Portfolio' values that we want to sum up.
By using the SUMIF function with the correct cell references and worksheet names, we can accurately calculate the sum of portfolio percentages by investment type in Excel!