Phrase guide
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noun
A metric used to determine the abnormal return of a security or portfolio over the theoretical expected return.
Definition source: English Wiktionary via Wiktextract
Topics: business, finance
No example sentence was provided for this meaning.
Synonyms: none provided
Antonyms: none provided
History
First used as a measure in the evaluation of mutual fund managers by Michael C. Jensen in 1968.
