Every defensible way of running the classic CAPM cross-sectional test,
on one curve (CRSP, July 1926–December 2024). Toggle the research choices on the left,
or click a paper to stand where its authors stood. Hover any point to read that
specification's full recipe; click two points to compare them choice by choice.
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specifications
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median slope %/yr
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slope > 0
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significant & positive (Newey–West)
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reliably below premium
significant, positive
not significant
── median own-sample market premium
standard errors