Beta is the sensitivity of the expected excess asset returns to the expected excess market returns. As of today (2024-05-15), New America Highome Fund's Beta is 0.84.
* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD. * For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.
Competitive Comparison of New America Highome Fund's Beta
For the Asset Management subindustry, New America Highome Fund's Beta, along with its competitors' market caps and Beta data, can be viewed below:
* Competitive companies are chosen from companies within the same industry, with headquarter located in same country, with closest market capitalization; x-axis shows the market cap, and y-axis shows the term value; the bigger the dot, the larger the market cap. Note that "N/A" values will not show up in the chart.
New America Highome Fund's Beta Distribution in the Asset Management Industry
For the Asset Management industry and Financial Services sector, New America Highome Fund's Beta distribution charts can be found below:
* The bar in red indicates where New America Highome Fund's Beta falls into.
New America Highome Fund Beta Calculation
Beta is the sensitivity of the expected excess asset returns to the expected excess market returns. A stock's beta can be calculated by dividing the product of the covariance of the individual stock's returns and the market's returns by the variance of the market's returns over a specified period. Basically, GuruFocus uses the returns calculated over three-year period.
New America Highome Fund (NYSE:HYB) Beta Explanation
Beta is a measure of the volatility, or systematic risk, of a security or a portfolio in comparison to the market as a whole. We usually compare beta to 1. A beta of 1 indicates that the security's price will move with the market. A beta of less than 1 means that the security will be less volatile than the market. A beta of greater than 1 indicates that the security's price will be more volatile than the market.
Beta is primarily used in the Capital Asset Pricing Model (CAPM) to calculate the Cost of Equity, which can be used in the calculation of WACC %. The formula of Cost of Equity is:
Cost of Equity = Risk-Free Rate of Return + Beta of Asset * (Expected Return of the Market - Risk-Free Rate of Return)
New America Highome Fund Beta Related Terms
Thank you for viewing the detailed overview of New America Highome Fund's Beta provided by GuruFocus.com. Please click on the following links to see related term pages.
New America Highome Fund (New America Highome Fund) Business Description
New America High Income Fund Inc is a diversified, closed?end management investment company. Its investment objective is to provide high current income while seeking to preserve stockholder capital by investing in a diversified portfolio of high-yield fixed-income securities. The fund invests primarily in fixed-maturity corporate debt securities that are rated less than the investment grade. Its portfolio of investment consists of investments in different sectors such as energy, financial, cable operators, healthcare, and others.
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