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It is fairly common practice to take this set of data and fit a line to it using linear regression. Lets say we got a line something like that. And to look at the statistics of that linear fit. One property is the slope. When we fit a line, whats the slope of that line? Lets assume it turns out to be 1 for this particular stock and its relationship to the SP 500. This slope, in financial terminology, is usually referred to as beta with this symbol, or just the word beta. And what beta means is how reactive is the stock to the market. So if beta is 1, and we have a slope here of 1, it means, on average, when the market goes up 1%, that particular stock also goes up 1%. If we have, say, a higher number, say, 2, that would mean that if the market were to go up 1%, wed expect on average for that stock to go up 2%. Theres another factor you can see here when you look at where that line intercepts the vertical axis. That is called alpha. And youve probably heard about alpha in invest
