This calculates the annualised growth rate between two dates, using a trend line (T) between the first value and the last value.
GRFL#(Expression,Start date,End date)
Actual dates are typed using either the standard format DD/MM/YY or the displacement date format, for example -NY.
As a date parameter one can also use YRE, HFE, QTE, MTE, WKE, LYE, BDATE, BDATEXXF
GRFL#(Expression)
If you do not specify start and end dates, the defaults are the start and end dates for the display period.
GRFL#(Expression,Period)
The rolling growth time period is entered next to the series.
GRFL#(MKS,31/12/95,31/12/98)
This calculates the annualised growth in the Marks &Spencer share price over the three year period, 31/12/95 to 31/12/98.
GRFL#(MKS)
This default format calculates the annualised growth rate in the Marks &Spencer share price between the start and end dates for the display period.
GRFL#(MKS,-1Q,)
This calculates the annualised growth rate in the Marks &Spencer share price for the previous quarter. When no end date is specified, the end date for the display period is used.
GRFL#(FTALLSH(RI)~U$,10Y)
This displays the ten-year annualised rolling growth rate of the total return of the FT All-Share equity index in dollar terms.
GRFL# calculates the annualised growth rate between two dates using the logarithmic change between the dates as defined below. The calculated value is written throughout each year between the start and end dates. The first stage is to calculate the logarithmic growth of the series between start and end dates at the input frequency:
a = ln(Vn-1/V0)
VN = the value at date N
ln is the natural log
b = a / Na
Where: Na = Total number of observations divided by the average number of observations per year - 261 for daily frequency, 52 for weekly frequency, etc.
To then calculate the annualised compound growth -
100 * (exp(b)-1)
This calculates the annualised growth rate between start and end dates.