Beta is one of the most important measures of equity market volatility. Beta can be thought of as asset elasticity or sensitivity to market. In other words, it is a number that shows the relationship of financial instrument to the financial market in which this instrument is traded. For example if Beta of equity is 2, it will be expected to significantly outperform market when market is going up and significantly underperform when market is going down. Similarly, Beta of 1 indicates that an asset and market will generate similar returns during over time.
Royal
Beta
=
Covariance
Variance
=
1.16
In a nutshell, Beta is a measure of individual stock risk relative to the overall volatility of the stock market. and is calculated based on very sound finance theory - Capital Assets Pricing Model (CAPM).However, since Beta is calculated based on historical price movements it may not predict how a firm's stock is going to perform in the future.
In accordance with recently published financial statements Royal Bank of Canada has Beta of 1.16. This is 90.16% higher than that of Financial sector, and 17.73% lower than that of Foreign Regional Banks industry, The Beta for all stocks is 274.19% lower than the firm.
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Royal is rated below average in beta category among related companies.
As market goes up, the company is expected to significantly outperform it. However, if the market returns are negative, Royal will likely underperform.
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NYSE Royal Bank of Canada
-1.39% 
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