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In stock analysis the baseline for alpha is 0, however for beta it's 1. Why is that so, if they are both comparisons to the market at a large?

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I believe that you are working with the CAPM there. Alpha is a measure of how much excess return e.g. a stock generates, while Beta is a measure of how volatile its price is relative to the market. So the "baseline" or market does obviously have a beta of one with an Alpha of zero (no excess return since you are looking at the market/"baseline" as you called it), according to the CAPM.

I hope this answers your question.

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    $\begingroup$ Good answer. You can also think of it like this: the market excess return is MULTIPLIED by Beta and then Alpha is ADDED. To get the same result you started with you need Beta of 1 and Alpha of 0; after all 1 is the identity for Multiplication and 0 is the identity for Addition. $\endgroup$ – noob2 Jun 7 '17 at 12:42

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