ABS ( Alpha , Beta , Smart Beta )
When Alpha Becomes Beta What is Alpha? The concept explains: ( From Investopedia ) As a measure of performance on a risk-adjusted basis. Alpha, often considered the active return on an investment, gauges the performance of an investment against a market index used as a benchmark since they are often considered to represent the market’s movement as a whole. The excess returns of a fund relative to the return of a benchmark index are the fund's alpha.
