Price-Earnings Relative A price-earnings ratio of a stock divided by the price-earnings ratio of a market measure, or index, such as the S&P 500 or Wilshire 5000.
Investopedia Says: This is a method for judging whether a price-earnings ratio is reasonable in relation to market conditions and historical P/Es.
Related Terms: Price-Earnings Ratio S&P 500 Wilshire 5000 Index