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Beta measures security volatility relative to market: β > 1 more volatile than market, β < 1 less volatile, β = 1 matches market.

ステップバイステップガイド

  1. 1Calculate historical returns vs. market index
  2. 2Compute covariance of returns
  3. 3Divide by market variance

解いた例

入力
Tech stock β = 1.5
結果
50% more volatile than market
Higher risk/reward potential

避けるべきよくある間違い

  • Assuming high β always risky (opportunity matters)
  • Using short lookback periods

よくある質問

Should beta guide investment?

No alone; consider alpha (excess return), fundamentals, diversification.

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