Insider buying clusters: market beta in a costume
Separate a raw return from the excess return over the market.
Module 26 of 26, Strategy case files: what Tickfloor tested. Lesson 2 of 6, about 16 minutes.
The takeaway
A raw return looks big until you subtract what the market did for free. Excess over the index is the test that matters.
This page is a public summary. The full lesson has the worked examples, an interactive exercise and a short quiz, and sits in the course. Lessons 1 and 2 of Module 1 are free and the rest need a pass.
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