In the indicator we are introducing, Jensen’s alpha is applied to an individual security instead of an entire portfolio. The risk-free rate is identified as the 13-week Treasury bill rate ($IRX.X). The beta is calculated solely on the individual security. The average market return is calculated based on the movement of the S&P 500 ($SPX.X). You can choose to calculate the alpha based on the last monthly, quarterly, or yearly return by adjusting an input. The indicator has been formatted specifically for use in both RadarScreen and Chart Analysis, but can only be used on a daily interval.