NVDA—● CONNECTING
● market beta & sensitivity — vs SPY, real returns
How much does it move with the market?
The name's beta (cov ÷ var) against SPY from real daily returns — how much it amplifies or dampens the market's moves — plus the return correlation, R² (the share of the move the market explains) and the annualized alpha. Beta is a sensitivity, not a direction.
NVDAvs SPY · 500 real daily returns
Beta · 2y
1.99×
vs SPY
Beta · 3m
2.05×
recent 63-day window
Correlation
0.71
R² 50% explained by market
Alpha · ann.
-3.79%
excess vs market-explained
NVDA has a beta of 1.99× vs SPY — it moves more than the market (amplifies). The market explains about 50% of its day-to-day moves; the rest is name-specific. Drift: recent beta in line with the 2-year beta.
2-year1.99×
3-month2.05×
Beta = cov(name, market) ÷ var(market) on 500 real daily log-returns vs SPY. Annualized alpha = the daily excess the market doesn't explain × 252. Your decisions, your risk.