I have a problem to understand and especially working with the Beta tool and function.
Using the Beta tool is straightforward, very easy. Using the Beta function (BETA()) is quiet tricky.
The script looks like this and is working fine.
I than have created a chart for Apple with the Beta function, using Show View, and the Beta toll, see chart below.
As you can see both beta calculations are the same.
Now I have change the Beta tool to weekly time frame. The chart look like the one below.
This chart correct, too. All is fine until now. Now I have tried to make the beta function also working on a weekly time frame and have tried to change the script accordingly. See my edited script for the weekly beta function below.
Then I have of course update the script in the chart and got a big problem, the beta function using the show view tool is displaying a straight line a zero! What happened?
I want create a beta function using weekly data with of course the same values as the Beta tool on weekly basis in the chart. This beta script I want use in a watch list. Of course the values in the watch list should be the same as in the chart using the beta tool.
Another question: Why are the beta values on a weekly time frame so different than on a monthly time frame although the time frame to calculate the beta is the same, 2 years? See chart above with the monthly beta using the script function and the weekly beta using the beta tool.