Hi themaccabee,
The relation bw Reflection coefficient and return loss is that Reflection coefficient is in terms of incident/reflected voltage whereas R.L is simply in terms of Incident/reflected power,that is the reason for R.L we take square of reflection coefficient to go into power and get the relation -20*log(reflection coefficient).
Here is a bit more explanation about Reflection coefficient:
|Reflection coefficient|= zL-Z0/ZL+Zo
There are always three cases:
1- Open circuit: In this case ZL=infinity and when you will put it in above expression and solve it you will get 1 or 0dB which means everything is reflected with no phase shift and nothing is being passed through.
2- Short circuit:In this case ZL= 0 and after putting it in above expression again and solving it you will get -1 which means again everything is reflected but with phase shift of 180 degrees.
3-Perfectly matched case: In this case ZL=Z0 and putting it in above expreassion and solving you will get 0 which means that nothing is reflected back and you will get maximum transmission.
So by negative reflection coefficient you cant say that very less power being reflected.
Hope it clears out your doubt.
/SC