Growth Fund Jensen Alpha

CGFEX -- USA Fund  

USD 50.49  0.18  0.36%

Growth Fund jensen-alpha technical analysis lookup allows you to check this and other technical indicators for The Growth Fund Of America Clas or any other equities. You can select from a set of available technical indicators by clicking on the link to the right. Please note, not all equities are covered by this module due to inconsistencies in global equity categorizations and data normalization technicques. Please check also Equity Screeners to view more equity screening tools
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The Growth Fund Of America Clas has current Jensen Alpha of (0.019185). 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 free rate.
Jensen Alpha 
 = 
ER[a] - RFR * (1-BETA) 
BETA * ER[b]) 
 = 
(0.019185)
ER[a] =   Expected return on investing in Growth Fund
ER[b] =   Expected return on market index or selected benchmark
BETA =   Beta coefficient between Growth Fund and the market
RFR =   Risk Free Rate of return. Typically T-Bill Rate

Jensen Alpha Comparison

The Growth Fund Of America Clas is fourth largest fund in jensen alpha among similar funds. It is fourth largest fund in maximum drawdown among similar funds .
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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