Beta (β)
Beta measures the sensitivity of a stock's returns to movements in the overall market. A beta of 1.0 means the stock moves in line with the market; above 1.0 means greater volatility; below 1.0 means less. In stock valuation, beta is a core input for calculating the cost of equity via CAPM.
공식
예시
A stock with a beta of 1.4 is expected to rise 14% when the market rises 10%, and fall 14% when the market falls 10%. Higher beta implies higher required return in stock valuation models.
왜 중요한가
Beta is central to stock valuation because it determines the cost of equity through the Capital Asset Pricing Model. Using an incorrect beta leads to a mispriced discount rate and ultimately an inaccurate intrinsic value estimate.
MiniValuator 에서 Beta (β) 사용법
MiniValuator does not use beta in its valuation engine. Rather than deriving a per-stock discount rate from CAPM (which is where beta would enter), the tool applies a single discount rate that defaults to 10% and can be edited directly. Beta appears here as a core valuation concept, not as a MiniValuator input.
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관련 용어
- Discounted Cash Flow (DCF) — Discounted Cash Flow (DCF) is a fundamental stock valuation methodology that estimates the present v...
- Weighted Average Cost of Capital (WACC) — WACC is the blended rate of return that a company must earn on its invested capital to satisfy all o...
- Capital Asset Pricing Model (CAPM) — CAPM is a financial model that defines the relationship between systematic risk and expected return ...
- Cost of Equity — Cost of equity is the return that equity investors require to compensate them for the risk of invest...
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