SYS_EXTRACTION_INIT
DOWNLINKING VECTOR PARAMETERS
DECRYPTING CORE ALGORITHMS...
DECRYPTING CORE ALGORITHMS...
Audit the skill. Calculate Jensen's Alpha to determine the excess return of a portfolio over what is predicted by CAPM.
A positive alpha of 3.40% suggests that the manager (or strategy) has added value through superior selection or timing, exceeding the return of 10.60% that would be expected purely from the portfolio's market exposure (Beta).