Alpha & Beta Lab (CAPM)

A single beta for the whole history averages together how an asset behaves when the market rises and how it behaves when the market falls, and those are usually two different numbers. This splits them, adjusts the raw estimate, and checks whether Jensen alpha persists across sub-periods or came from one lucky stretch.

• Raw and adjusted beta against the benchmark of your choice
• Bull beta and bear beta reported separately, so the asymmetry stops being hidden by the average
• Jensen alpha with a persistence check, so a good number has to repeat before it counts