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PureBytes Links
Trading Reference Links
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!XVG - VALUE LINE COMPOSITE INDEX GEOMETRIC
!VAY - VALUE LINE ARITHMETIC COMPOSIT
Interesting to see the two overlaid on same chart.
For a description of the differences between the two:
http://www.valueline.com/news/vlv030328x.html
a snippet from the above web page:
"Differentiating the VLA and VLG
The VLA provides an estimate of how an equal-dollar weighted portfolio
of stocks will perform. Or, put another way, it tracks the performance
of the average, rather than the median, stock in the index. It can be
proven mathematically that the maximum daily ratio attainable by the
VLG is equal to the daily ratio of the VLA. However, this special case
can only occur when every single stock in the index has the exact same
percentage price change on a given day—a highly unlikely scenario. For
all practical purposes, then, the daily percentage price change of the
VLA will always be higher than the VLG. The systematic understatement
of returns of VLG is a major reason that the VLA was developed. "
Phsst
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