Question: Alpha CAPM is 0.31 Beta CAPM is 1.27 3 factor moder alpha is 0.09 Mkt_RF SMB HML the alphas obtained across the two models are

Alpha CAPM is 0.31 Beta CAPM is 1.27 3 factor moder alpha is 0.09 Mkt_RF SMB HML the alphas obtained across the two models are different, explain why the type of stocks Fund 1 is invested in causes the alpha to change when the fund is evaluated in a 3-Factor Model instead of a CAPM

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