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Beta - The measure of a funds or stocks risk in relation to the market, or an alternative benchmark. A beta of 1.5 means that a stocks excess return is expected to move 1.5 times the market excess returns. E.g. if market excess return is 10% then we expect, on average, the stock return to be 15%. Beta is referred to as an index of the systematic risk due to general market conditions that cannot be diversified away.
A measure of volatility, or systematic risk, of a security or portfolio in comparison to the market as a whole. Also known as beta coefficient.