Nicox Sa EUR has a beta of -0.1481. Let's try to break down what Nicox's beta means in this case. Nicox Sa returns are very sensitive to returns on the market. As the market goes up or down, Nicox Sa is expected to follow. The beta indicator helps investors understand whether Nicox Sa moves in the same direction as the rest of the market, and how volatile (i.e., risky) it is compared to the market (i.e., selected benchmark). In other words, if Nicox deviates very little from the market, it does not add much risk to the portfolio, but it also doesn't increase the expected returns.