--- title: "Benchmark line and vs figure | RupeeCase" description: "The grey line and the "vs NIFTY 50" figure: the benchmark index over the same window, rebased to the same start, with no costs." source_url: "https://www.rupeecase.com/learn/terminal/benchmark-line" --- ## Watch: Benchmark line Each card names its benchmark: here NIFTY 50.The benchmark line: what is the strategy compared with? 5 chapters, 0:57, with voice and music 1. [Chapter 1Where it is0:17](/instiv2/media/tut3/benchmark-line-where-phone-dark-v3-va2.mp4) 2. [Chapter 2What it means0:19](/instiv2/media/tut3/benchmark-line-meaning-phone-dark-v3-va2.mp4) 3. [Chapter 3Worked example0:06](/instiv2/media/tut3/benchmark-line-example-phone-dark-v3-va2.mp4) 4. [Chapter 4How to read it0:06](/instiv2/media/tut3/benchmark-line-reading-phone-dark-v3-va2.mp4) 5. [Chapter 5Watch out0:10](/instiv2/media/tut3/benchmark-line-watch-phone-dark-v3-va2.mp4) Screens from the RupeeCase app on sample data. Strategy figures are model, back tested, as of the date on screen. Formula and example numbers are illustrative. Mark as watched 4In this screen ## Every button the video points at. A still from each chapter with its buttons and fields numbered. Pick a number to zoom in on it; hover the still for a close up; Esc shows the whole screen again. Sample data, no order is placed. **1**Where it is**2**What it means ### Chapter 1: Where it is 1 Show the whole screen 1 Show the whole screen 1. 1**The benchmark**Each card names its benchmark: here NIFTY 50. Shown in the video, not on this still 2. 2**Same window** The hero shows the benchmark over the same window. Shown in the video, not on this still ### Chapter 2: What it means 12 Show the whole screen 12 Show the whole screen 1. 1**The chart**Both lines start together on the window's first week. Shown in the video, not on this still 2. 2**Each line's return**The legend gives each line's return at the end. Shown in the video, not on this still ## Where it is ScreenMarketplace and StrategyBasic The "vs NIFTY 50" figure on each card, the benchmark line under the hero and the second line in the chart and legend. Basic and Advanced. Index in this video: [Allcap](/strategies/allcap) (strategy page). ## What it means Each strategy is drawn against a benchmark index, NIFTY 50 by default. On the strategy page the benchmark starts at the same value on the same day as the model, so the gap between the lines is the difference in growth. The benchmark is an index level with no costs. ## The formula Both lines start at the same value on the window's first week. The vs figure is the benchmark's own return or growth per year over the same span. As computed in the RupeeCase app`Benchmark line = index level / index level at the window start x 100 (index level, no costs) Card vs figure = benchmark growth per year over the full history Hero vs figure = benchmark return over the chosen window` ## Worked example Example only * Window start: model 100, NIFTY 50 100 * Window end: model 150, NIFTY 50 125 * Model +50%, NIFTY 50 +25%: a gap of 25 points ## How to read it * The space between the lines is how far ahead or behind the model is. * Read growth per year beside the benchmark's figure for the same span. * The legend shows each line's return at the window end or the hovered week. ## Watch out * NIFTY 50 here is the price index: dividends are not added. * The model is after estimated charges; the index has no costs. * Changing the chart benchmark changes it on every strategy page. ## Transcript Tap Sound on for voice and music. These are the captions of the video, chapter by chapter. 1. 0:00**Where it is.** Each card names its benchmark: here NIFTY 50. 2. 0:17**What it means.** Both lines start together on the window's first week. 3. 0:36**Worked example.** Worked example, example only: Window start: model 100, NIFTY 50 100. Window end: model 150, NIFTY 50 125. Model +50%, NIFTY 50 +25%: a gap of 25 points. 4. 0:41**How to read it.** How to read it: The space between the lines is how far ahead or behind the model is. Read growth per year beside the benchmark's figure for the same span. The legend shows each line's return at the window end or the hovered week. 5. 0:47**Watch out.** Watch out: NIFTY 50 here is the price index: dividends are not added. The model is after estimated charges; the index has no costs. Changing the chart benchmark changes it on every strategy page. ## Terms in this tutorial * [Nifty 50](/learn/glossary#nifty-50)Index of 50 large-cap Indian stocks representing about 65 percent of NSE free-float market cap. * [Nifty 500](/learn/glossary#nifty-500)Broader index of 500 Indian stocks covering roughly 95 percent of free-float market cap. * [index fund](/learn/glossary#index-fund)Mutual fund that replicates an index. ## Learn it in depth * [Module 1.3: Indices & Benchmarks13 min read, free](/learn/path-1/module-1-3-indices-and-benchmarks) * [Module 4.4: Performance Measurement9 min read, free](/learn/path-4/module-4-4-performance-measurement) TKeep watching ## Next tutorial. [1:08Next tutorial, Read a strategyAlpha: which of the two alphas is this?The app shows two alphas: total return points on a Marketplace card, and the difference in growth per year in the key figures of a strategy or a portfolio.Watch next](/learn/terminal/which-alpha) ### Related tutorials * [1:08Read a strategy, BasicRs 10,00,000 became: what do the hero figure and periods show?1:08 video, BasicWatched](/learn/terminal/hero-figure-and-periods) * [1:06Read a strategy, BasicGrowth per year: how fast did the model grow?1:06 video, BasicWatched](/learn/terminal/growth-per-year) * [0:56Read a strategy, BasicMax drawdown: how bad did it get?0:56 video, BasicWatched](/learn/terminal/max-drawdown) [All 67 terminal tutorials](/learn/terminal/) Try it in Practice ## See it on your own screen. Practice mode runs the whole terminal without real orders, so you can open any strategy and find every screen from this tutorial for yourself. [Sign up for RupeeCase](https://invest.rupeecase.com/signup)[Glossary](/learn/glossary) Explore next ## Keep learning the terminal. * [TutorialThe riskometer: what sets Low to Very High?0:45 video, Basic](/learn/terminal/riskometer) * [TutorialMinimum investment: why does each strategy have one?0:51 video, Basic](/learn/terminal/minimum-investment) * [TutorialRebalance cadence: how often does the strategy trade?0:56 video, Basic](/learn/terminal/rebalance-cadence) * [TutorialSharpe and volatility: how bumpy was the ride?0:54 video, Advanced](/learn/terminal/sharpe-and-volatility) * [TutorialNet return and charges: what do estimated costs take?0:47 video, Basic](/learn/terminal/net-return-and-charges) * [TutorialThe key figures card: what are the four lead figures?0:58 video, Basic](/learn/terminal/key-figures-card) Community ## Join my WhatsApp group. Scan the code, fillFill one short form, and join my WhatsApp group. Slides, sources, factsheets and the rebalance logs live there, and members join a daily Google Meet with me. [Sign up for RupeeCase](https://invest.rupeecase.com/signup) [Join the WhatsApp group](https://forms.gle/C6HMtM1Z2GfeocQV7) [One form, one group](https://forms.gle/C6HMtM1Z2GfeocQV7)Scan with your phone camera Education only, not investment advice. Screens are recordings of the RupeeCase app on sample data. Strategy figures are model, back tested and after estimated charges, as of the date on screen; they are not client returns and not a promise of future returns. Formula and worked example numbers are illustrative. RupeeCase is a technology platform operated by QC Alpha Technologies Pvt Ltd; it is not a mutual fund, a PMS, an AIF or a SEBI registered investment adviser. Trades execute through your own SEBI registered broker and the shares sit in your own demat. Investments in securities markets are subject to market risks.