Question: Use the from step b) to compute the monthly excess outperformance (or underperformance in case the number is negative) of Fund X. The formula is:

Use the from step b) to compute the monthly excess outperformance (or underperformance in case the number is negative) of Fund X. The formula is: RX - RVG (as a reminder Rx and Rvg are excess returns and not absolute returns). What is the average excess outperformance (or net alpha) for this fund over this time period? BETA IS 1.0497,

Enter value to 5 decimal places.

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