| AMFEX Fund | | | USD 17.55 0.03 0.17% |
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Aama Equity Fund has current Jensen Alpha of 0.0253. Jensen alpha is a measure of the returns that are attributable to the managers' ability to select security and time the market. In other words, it is the returns remaining after deducting what would have been attributable to beta returns (which do not require skill) and the risk-freerate.
Jensen Alpha | = | ER[a] - RFR * (1-BETA) | - | BETA * ER[b]) |
| = | 0.0253 | |
| ER[a] | = | Expected return on investing in Aama Equity |
| ER[b] | = | Expected return on market index or selected benchmark |
| BETA | = | Beta coefficient between Aama Equity and the market |
| RFR | = | Risk Free Rate of return. Typically T-Bill Rate |
Aama Equity Jensen Alpha Peers Comparison
Aama Jensen Alpha Relative To Other Indicators
Aama Equity Fund is
second largest fund in jensen alpha among similar funds. It is currently under evaluation in downside variance among similar funds reporting about
16.06 of Downside Variance per Jensen Alpha. The ratio of Downside Variance to Jensen Alpha for Aama Equity Fund is roughly
16.06 Jensen alpha is the difference between the return of the portfolio, and what the portfolio should theoretically have earned. Any portfolio can be expected to earn the risk-free rate (RF), plus the market risk premium (which is given by [Beta x (Market Portfolio Return - Risk-Free Rate)]. Anything remaining over and above is alpha.
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