I need to see real growth in metrics like customer acquisition and trading volume before making a deeper commitment. From what I can tell, the news about EDXM will only be positive for Coinbase if it helps to expand the pie for the crypto industry as a whole. That's right -- they think these 10 stocks are even better buys. Independent nature of EDXM would also restrain the firm from the possibility of conflicts of interest. EDXM needed to prove its utility to stay relevant within the crypto space though. For now, I'm taking a wait-and-see **backed crypto exchange** with Coinbase. Meanwhile, the EDX exchange would work to accommodate both private and institutional investors.

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Definition and Example of R-Squared R-squared is one of the most basic measuring tools for mutual fund analysis. It is a metric you can use to assess the degree to which a given fund matches its benchmark. Alternate name: Coefficient of determination Acronym: R2 R-squared does not measure how well a mutual fund or your portfolio performs.

Instead, it compares your portfolio's returns to a benchmark and expresses that as a percentage between 1 and The higher the figure, the more your portfolio mirrors the index or benchmark. On May 24, , the fund had an R-squared of Note Some funds do not attempt to track an index but rather invest in companies in a sector without a comparative index. How Does R-Squared Work? As a statistical measurement, R-squared expresses the relationship between two data sets generally used in a simple linear regression model.

By Marios Alexandrou. Whether you're investing in individual stocks or baskets of them via mutual funds and exchange traded funds ETFs , it's important to understand the terminology used in the investing world. This knowledge can help you decipher the jargon you're likely to encounter from investment-related news in newspapers, blogs, and on TV. Two common terms that I see used a lot are Alpha and Beta.

Their definitions are below. Alpha A mathematical estimate of the amount of return expected from an investment's inherent values. It measures the difference between a stock's actual performance and the performance anticipated in light of the stock's risk and the behavior of the market.

Alpha measure's a stock's risk adjusted performance. That is, it measures a stock's performance taking into account its beta, or sensitivity to the index, and the risk-free rate of return of a three-month Treasury Bill.

The higher the figure, the more your portfolio mirrors the index or benchmark. On May 24, , the fund had an R-squared of Note Some funds do not attempt to track an index but rather invest in companies in a sector without a comparative index. How Does R-Squared Work? As a statistical measurement, R-squared expresses the relationship between two data sets generally used in a simple linear regression model.

When used to evaluate mutual funds, returns from the fund and the index it tracks are the data sets. Several steps are necessary to calculate a fund's R-squared, so it's best to view your fund's performance information where the value is generally published.

Put simply, variances—the spread between numbers in a data set—are used to determine R-squared. Brokerages generally show a fund's R-squared on its page, so you're not required to run a regression yourself to find the value. From there, divide the first sum of errors unexplained variance by the second sum total variance , subtract the result from one, and you have the R-squared.

What R-Squared Can Tell You In investing, R-squared is generally interpreted as the percentage of a fund or security's movements that can be explained by movements in a benchmark index. For example, an R-squared for a fixed-income security versus a bond index identifies the security's proportion of price movement that is predictable based on a price movement of the index.

It may also be known as the coefficient of determination. A higher R-squared value will indicate a more useful beta figure. R-Squared vs. Adjusted R-Squared R-Squared only works as intended in a simple linear regression model with one explanatory variable. With a multiple regression made up of several independent variables, the R-Squared must be adjusted.

The adjusted R-squared compares the descriptive power of regression models that include diverse numbers of predictors. Every predictor added to a model increases R-squared and never decreases it. Thus, a model with more terms may seem to have a better fit just for the fact that it has more terms, while the adjusted R-squared compensates for the addition of variables and only increases if the new term enhances the model above what would be obtained by probability and decreases when a predictor enhances the model less than what is predicted by chance.

In an overfitting condition, an incorrectly high value of R-squared is obtained, even when the model actually has a decreased ability to predict. This is not the case with the adjusted R-squared. Beta Beta and R-squared are two related, but different, measures of correlation but the beta is a measure of relative riskiness. A mutual fund with a high R-squared correlates highly with a benchmark. If the beta is also high, it may produce higher returns than the benchmark, particularly in bull markets.

R-squared measures how closely each change in the price of an asset is correlated to a benchmark. Beta measures how large those price changes are relative to a benchmark. Used together, R-squared and beta give investors a thorough picture of the performance of asset managers.

A beta of exactly 1.