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Alpha
Measures the difference between a fund's actual returns and its expected performance, given its level of risk (as measured by its beta). A positive alpha figure indicates that a fund has performed better than its beta would predict. Alternatively, a negative alpha figure indicates that a fund has under-performed, given the expectations established by the fund's beta. A high alpha is generally considered to be an indication of good, active management.
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- Part of Speech: noun
- Synonym(s):
- Blossary:
- Industry/Domain: Financial services
- Category: Funds
- Company: Merrill Lynch
- Product:
- Acronym-Abbreviation:
Other Languages:
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