Paul, Thank you very much for this simple way to get TLS ratios. Do you have any examples of a multiple-leg TLS ratio calculation? -- View this message in context: http://r.789695.n4.nabble.com/Better-Hedge-Ratios-for-Spread-Trading-tp4120156p4638960.html Sent from the Rmetrics mailing list archive at Nabble.com.