R*********r
发帖数: 38 | 1 seekingalpha用来当网站的名字，这个seeking alpha这个短语是个什么意思？r |
m*****i
发帖数: 1829 | 2 alpha indicate the risk level. higher risk --> higher return
it is the basic term in stock pricing in any finance books.
【在 R*********r 的大作中提到】
: seekingalpha用来当网站的名字，这个seeking alpha这个短语是个什么意思？r
|
s*******d
发帖数: 3786 | 3 From Wiki: Alpha is a financial term referring to a stock's performance,
relative to the market indexes used by fund managers. So, fund managers "
seek alpha". |
g******n
发帖数: 53185 | 4 错了，beta是risk。alpha是multi-factor model 里面不带beta的第一项。
代表控制了risk以后的return，越大越好
【在 m*****i 的大作中提到】
: alpha indicate the risk level. higher risk --> higher return
: it is the basic term in stock pricing in any finance books.
|
s*****e
发帖数: 16824 | 5 alpha是资产定价理论里用来代表资产价格扣除了风险补偿以后和无风险利率之间的差
异.对于大多数资产而言，alpha应该接近于0，如果alpha大于0或小于0，那么就意味着
可以做hedge,无风险的获得回报，所以seeking alpha就是在寻找这样的机会。
【在 R*********r 的大作中提到】
: seekingalpha用来当网站的名字，这个seeking alpha这个短语是个什么意思？r
|
v**********m
发帖数: 5516 | 6 http://www.investopedia.com/terms/a/alpha.asp#axzz1XqFSnhhy
Alpha
What Does It Mean?
What Does Alpha Mean?
1. A measure of performance on a risk-adjusted basis. Alpha takes the
volatility (price risk) of a mutual fund and compares its risk-adjusted
performance to a benchmark index. The excess return of the fund relative to
the return of the benchmark index is a fund's alpha.
2. The abnormal rate of return on a security or portfolio in excess of what
would be predicted by an equilibrium model like the capital asset pricing
model (CAPM).
Investopedia Says
Investopedia explains Alpha
1. Alpha is one of five technical risk ratios; the others are beta, standard
deviation, R-squared, and the Sharpe ratio. These are all statistical
measurements used in modern portfolio theory (MPT). All of these indicators
are intended to help investors determine the risk-reward profile of a mutual
fund. Simply stated, alpha is often considered to represent the value that
a portfolio manager adds to or subtracts from a fund's return.
A positive alpha of 1.0 means the fund has outperformed its benchmark index
by 1%. Correspondingly, a similar negative alpha would indicate an
underperformance of 1%.
2. If a CAPM analysis estimates that a portfolio should earn 10% based on
the risk of the portfolio but the portfolio actually earns 15%, the
portfolio's alpha would be 5%. This 5% is the excess return over what was
predicted in the CAPM model.
Read more: http://www.investopedia.com/terms/a/alpha.asp#ixzz1XqFbe0PC |
