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Name the benchmark proxy
The calculator treats the entered benchmark return as X. A sector index, broad market index or another portfolio can give different fitted slopes against the same asset returns. A generic beta label does not establish which proxy was used.
Retain the estimation context
| Field | Question |
|---|---|
| Benchmark | Which return series or proxy? |
| Window | Which paired observations? |
| Frequency | Which common period? |
| Basis | Raw, excess, total or price return? |
| Currency/costs | Which conventions? |
Keep the descriptive estimate limited
In the original record, slope 2.1 describes the fitted relation to the hypothetical benchmark. It is not a permanent property of an asset and does not guarantee the next return moves by 2.1 times a future benchmark move.
Use compatible records for comparisons
Before comparing published betas, check the underlying definitions and windows. Different proxies or samples may answer different questions even when both calculations are internally correct.