ALPS OShares Jensen Alpha
| OGIG ETF | | | USD 44.64 -0.06 -0.13% |
Jensen Alpha measures the return attributable to active skill rather than passive market exposure. It is the residual return after subtracting the risk-free rate and the beta-adjusted market premium — the return the asset should have earned based solely on its systematic risk. Below is ALPS OShares's current Jensen Alpha with peer comparisons and related risk metrics.
Current Jensen Alpha Value
The current Jensen Alpha of
-0.02 places ALPS OShares at slightly negative alpha — return marginally below the CAPM-predicted level. ALPS OShares has slightly underperformed relative to what its market beta would imply.
Jensen Alpha | = | ER[a] - RFR * (1-BETA) | - | BETA * ER[b]) |
| = | -0.02 | |
| ER[a] | = | Expected return on investing in ALPS OShares |
| ER[b] | = | Expected return on market index or selected benchmark |
| BETA | = | Beta coefficient between ALPS OShares and the market |
| RFR | = | Risk Free Rate of return. Typically T-Bill Rate |
Jensen Alpha Peers Comparison
ALPS OShares falls below the 0.09 peer average for Jensen Alpha. SPDR SAMPP Telecom leads at 0.5187 while Global X Video registers the lowest at -0.1517. ALPS OShares has generated less excess return relative to its market exposure than the peer group average.
Jensen Alpha Relative To Other Indicators
The chart below plots Jensen Alpha against Maximum Drawdown for ALPS OShares and its peers. Each point represents one equity — position along the horizontal axis shows Jensen Alpha while the vertical axis shows Maximum Drawdown. Equities that cluster in different quadrants carry distinct risk-return profiles. Use the dropdowns to swap in other indicators for either axis.
Compare ALPS OShares to PeersMethodology, Assumptions & Data Sources
ALPS OShares' Jensen Alpha currently stands at -0.02. Jensen Alpha for ALPS OShares is derived by applying a defined formula to historical price observations, producing a time-series of comparable readings. Data sources include daily closing prices from supported exchanges, with standard corporate action adjustments applied. The calculation assumes continuous price data across the selected period. All readings are presented as reference data.
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