Relative Performance against a Group of Stocks

The equity symbols function returns the relative value of a group of securities. It gets a list of securities separated by semi-colons.

This indicator (EquitySymbols) can be used for example to calculate the relative performance of a stock against a group of other stocks.

Formula: (Right click on a chart then "Edit Formula")

symbols = "AA;AAPL;GOOG;C;X";
a = EquitySymbols(symbols); // Gets the combined evolution of the above symbols
perf1 = perf(a, 50); // Calculates the 50-bar performance

b = close; // Gets the close time series of the analyzed symbol
perf2 = perf(b, 50);

rp = perf2 - perf1; // Calculates the relative performance

plot(rp, "Relative performance of ".name()."/".symbols, colorGreen, ChartLine, StyleSymbolNone);


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When applied to Agilent Technologies Inc. company (Ticker: A) for example, the above formula calculates and plots the relative performance (50-bar) of A compared to a group of stocks: AA, AAPL, GOOG, C and X.

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