What is the average excess outperformance for this fund


Problem

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

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Finance Basics: What is the average excess outperformance for this fund
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