random walk
noun[S]
ukusFINANCE,STOCK MARKET
behaviourofshares,interestrates, afinancialmarket, etc. that israndom, so that it is notpossibleto say whatfuturebehaviourwill bebasedon pastactivity:
Thereportsuggeststheexchangerateis on arandomwalkand it is toodifficulttopredictwhere it willsettle.
therandomwalkhypothesis/theory/model