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Security characteristic line (SCL) is a regression line,〔(Characteristic Line )〕 plotting performance of a particular security or portfolio against that of the market portfolio at every point in time. The SCL is plotted on a graph where the Y-axis is the excess return on a security over the risk-free return and the X-axis is the excess return of the market in general. The slope of the SCL is the security's beta, and the intercept is its alpha.〔(Security Characteristic Line )〕 ==Formula== : where: :''α''i'''' is called the asset's alpha (abnormal return) :''βi(RM,t – Rf)'' is a nondiversifiable or systematic risk :''εi,t'' is the non-systematic or diversifiable, non-market or idiosyncratic risk :''RM,t'' is a market risk :''Rf'' is a risk-free rate 抄文引用元・出典: フリー百科事典『 ウィキペディア（Wikipedia）』 ■ウィキペディアで「security characteristic line」の詳細全文を読む スポンサード リンク
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