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Is there an indicator that measures movement with respect to the market?
Not Beta; that's volatility. I'm looking for something that would vary
in value from a negative number to a positive one; a value of 1 would
indicate the security rises in price when the market rises in price, and
about the same amount. A value of -2 would indicate the security drops
in price when the market rises (and vice versa), and about double the
amount.
Does such an indicator exist?
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