问题如下:
Which of the following statements about the capital asset pricing model is correct?
选项:
A.An individual asset's expected return's primary determinant is the asset’s beta.
B.An individual asset's expected return's primary determinant is the market risk premium.
C.An individual asset's expected return's primary determinant is the asset’s standard deviation.
解释:
A is correct.
Under the CAPM theory, an individual asset's expected return's primary determinant is the asset’s beta, or the degree of correlation between the asset and the market.
老师,有个疑问:beta is the sensitivity of an asset's return to the return on the market index in the market model. 而且在题目的解答中,也明确说beta是敏感度而不是correlation。
但是在选项C里面,说beta是the degree of correlation between the asset and the market。请问两个叙述之间没有矛盾吗?