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Nifty 5024,2520.08%H 24,284.05 · L 24,206.8|Sensex77,540.830%H 77,725.67 · L 77,445.86|Bank Nifty57,761.950.46%H 57,772.45 · L 57,481.55|USD / INR₹95.710.02%H ₹95.71 · L ₹95.71|Gold Intl (10g)₹1,44,028.882.39%H ₹1,44,327.36 · L ₹1,40,487.09|Silver Intl (1kg)₹2,13,953.942.09%H ₹2,15,646.37 · L ₹2,09,122.82|Crude WTI₹8,332.510.26%H ₹8,375.58 · L ₹8,211.92|Bitcoin₹73,84,9310.65%H ₹74,08,914.66 · L ₹73,60,947.34|Ethereum₹2,32,2572.19%H ₹2,34,800.4 · L ₹2,29,713.6|Nifty 5024,2520.08%H 24,284.05 · L 24,206.8|Sensex77,540.830%H 77,725.67 · L 77,445.86|Bank Nifty57,761.950.46%H 57,772.45 · L 57,481.55|USD / INR₹95.710.02%H ₹95.71 · L ₹95.71|Gold Intl (10g)₹1,44,028.882.39%H ₹1,44,327.36 · L ₹1,40,487.09|Silver Intl (1kg)₹2,13,953.942.09%H ₹2,15,646.37 · L ₹2,09,122.82|Crude WTI₹8,332.510.26%H ₹8,375.58 · L ₹8,211.92|Bitcoin₹73,84,9310.65%H ₹74,08,914.66 · L ₹73,60,947.34|Ethereum₹2,32,2572.19%H ₹2,34,800.4 · L ₹2,29,713.6|
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Alpha

The excess return a fund earns over its benchmark.

Definition

Alpha measures how much a fund or portfolio has outperformed (positive alpha) or underperformed (negative alpha) its benchmark index, after adjusting for risk. It reflects the value added by the fund manager's decisions.

Example

If a fund returns 15% while its benchmark returns 12%, it has generated roughly 3% of alpha.

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