r_sqr

Function Name: r_sqr

Tags: None

Category: Trend

The R-Squared indicator is a statistical measure that represents the percentage of a fund's or security's movements that are explained by movements in a benchmark index. For fixed-income securities the benchmark is the T-bill, and for equities the benchmark is the S&P 500.

R-Squared values range from 0 to 100. An R-Squared of 100 means that all movements of a security are completely explained by movements in the index.

A higher R-Squared value will indicate a more useful beta figure. For example, if a fund has an R-Squared value of close to 100, yet has a beta below 1, it is most likely offering higher risk-adjusted returns. A low R-Squared value means you should ignore the beta.

 

Link: http://www.investopedia.com/terms/r/r-squared.asp

 

Source1	Choose any symbol as the first base. By default, the first symbol that is shown on the chart is used.
Source2	Choose any symbol as the second base. By default, the second symbol that is shown on the chart is used. If only one symbol is visible on the chart, you can choose a second symbol with Symbol Search by clicking on Other.

period
	Default Value: 14  |  Minimum: 1  |  Maximum: 9999
	Type: Numeric