Beta II Metastock Indicators Forex Trading Systems - XEATrade - Metatrader, Metastock, Tradestation, Amibroker

Description: This formula calculates Beta which is a measure of volatility of one securityagainst another. This is typically used to measure the volatility of a stock againstan index like the S&P 500. A value greater than one indicates the stock is more volatile thanthe index.

Beta II

(( 21 * Sum( ROC( CLOSE ,1 ,% ) * ROC( Security("WIG",C),1 ,% ) ,21 ) ) -
( Sum( ROC( CLOSE ,1 ,% ) ,21) * Sum( ROC( Security("WIG",C) ,1 ,% ) ,21 ) ) ) /
( (21 * Sum( Pwr( ROC( Security("WIG",C) ,1 ,% ) ,2 ) ,21 )) - 
Pwr( Sum( ROC( Security("WIG",C) ,1 ,% ) ,21 ) ,2 ))

Author/Source: http://www.equis.com

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