Fidelity® Mid Cap Growth Index (FMDGX)
FMDGX Alpha (All)
Alpha (All) Chart
Historical Alpha (All) 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.