Anhui Tongguan Jensen Alpha

301217 Stock   10.53  0.02  0.19%   
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Anhui Tongguan Copper has current Jensen Alpha of 0.3051. Jensen alpha is a measure of the returns that are attributable to the managers' ability to select security and time the market. In other words, it is the returns remaining after deducting what would have been attributable to beta returns (which do not require skill) and the risk-freerate.

Jensen Alpha

 = 

ER[a] - RFR * (1-BETA)

-

BETA * ER[b])

 = 
0.3051
ER[a] = Expected return on investing in Anhui Tongguan
ER[b] = Expected return on market index or selected benchmark
BETA = Beta coefficient between Anhui Tongguan and the market
RFR = Risk Free Rate of return. Typically T-Bill Rate

Anhui Tongguan Jensen Alpha Peers Comparison

Anhui Jensen Alpha Relative To Other Indicators

Anhui Tongguan Copper is rated below average in jensen alpha category among its peers. It is currently under evaluation in maximum drawdown category among its peers reporting about  77.39  of Maximum Drawdown per Jensen Alpha. The ratio of Maximum Drawdown to Jensen Alpha for Anhui Tongguan Copper is roughly  77.39 
Jensen alpha is the difference between the return of the portfolio, and what the portfolio should theoretically have earned. Any portfolio can be expected to earn the risk-free rate (RF), plus the market risk premium (which is given by [Beta x (Market Portfolio Return - Risk-Free Rate)]. Anything remaining over and above is alpha.
Compare Anhui Tongguan to Peers

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