Campbell Ramble

Campbell Ramble

Whatever happened to alpha - How much beta is in the alpha?

June 18th, 2018

Alexander Campbell's avatar
Alexander Campbell
Nov 09, 2021
∙ Paid

It would be great to have actual quality information on the alpha generated by funds, but in order to do that, you need to understand how much beta exposure they have.

Well, when you look at the data, in aggregate, hedge funds look like (moderately) higher Sharpe ratio stocks.

User's avatar

Continue reading this post for free, courtesy of Alexander Campbell.

Or purchase a paid subscription.
© 2026 Alexander Campbell · Privacy ∙ Terms ∙ Collection notice
Start your SubstackGet the app
Substack is the home for great culture