Definitions for "Relative Performance"
A school's relative performance is the distance between their performance on a particular exam and the average performance of demographically similar schools on the same exam. When the data are available, the measure of performance for schools will be their average scale score on a particular exam (i.e. 4th grade Reading in 2005.) When these data are not available, performance rates indicating the percent of students who passed the test at a particular level will be substituted as the measure of performance. For every campus, relative performance is calculated for each tested subject, grade, and year. Relative performance is also referred to as the residual.
Performance measured in correlation to a benchmark indicator -- the most common indicator is the S&P 500.
The performance of an investment relative to its Benchmark Index