Direxion Daily S&P 500® Hi Bt Br 3X ETF (HIBS)
HIBS Alpha (5Y)
Alpha (5Y) Chart
Historical Alpha (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.