Goldman Sachs Future Health Care Eq ETF (GDOC)
GDOC Alpha (vs YCharts Benchmark) (5Y)
Alpha (vs YCharts Benchmark) (5Y) Chart
Historical Alpha (vs YCharts Benchmark) (5Y) Data
Alpha measures the excess return that a security provides. Alpha can be measured by taking Risk Adjusted Security Return - Beta*(Risk Adjusted Market Return). This formula will return the outperformance that the security provides. Alpha is an important metric for active investing, where investors look for outperforming a particular benchmark.