That is, if the market is is completely bullish the value would return something like '1.0' whereas if the market where sideways we'd get a '0.0' and if the market where in a straight plumet you would get a return of '-1.0'.
Does such a thing, or comparable, exist?
Hi Jackson,
There is no library function that directly gives you but take a look at Seong's post in this thread. You might find the strategy he implements helpful and similar to what you are trying to do.
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In addition, the material offers no opinion with respect to the suitability of any security or specific investment. No information contained herein should be regarded as a suggestion to engage in or refrain from any investment-related course of action as none of Quantopian nor any of its affiliates is undertaking to provide investment advice, act as an adviser to any plan or entity subject to the Employee Retirement Income Security Act of 1974, as amended, individual retirement account or individual retirement annuity, or give advice in a fiduciary capacity with respect to the materials presented herein. If you are an individual retirement or other investor, contact your financial advisor or other fiduciary unrelated to Quantopian about whether any given investment idea, strategy, product or service described herein may be appropriate for your circumstances. All investments involve risk, including loss of principal. Quantopian makes no guarantees as to the accuracy or completeness of the views expressed in the website. The views are subject to change, and may have become unreliable for various reasons, including changes in market conditions or economic circumstances.
