金融学习中的疑惑：关于beta

咸蛋超人~

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AZERT_FR

其实lz已经给出答案了，beta就是cov/var，是用来衡量两个量的相互关系的，hedge的时候体现在数量上，capm中则体现在收益率上

ericdong

cov(st,ft)/var(ft)

Ft could be a linked index future contract. To hedge a portfolio in pan european, you can short selling the eurostoxx 50 . Other European ETF index could be an alternative hedge vehicle.

ericdong

PS: Beta( A,B) give us the correlation between asset A and asset B.
High correlation (high beta) shows us a hedging tool , an index, an alternative invest or hedging vehicle. The two assets always move in the same direction up-up or down-down...

Low beta shows us a diversification tool. Good diversification portfolio mag. benefit from the low or negative betas...