Beta
163.32
0.82
(0.50%)
07/10/2026
Salesforce, Inc. (CRM)
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Beta Analysis
CRM vs. SPY · 499 trading days · 13 Jul 2024 – 13 Jul 2026
Beta
0.91
Slope vs SPY
Adjusted Beta
0.94
Blume, toward 1.0
Alpha
-31.3%
Annualized, mkt-adj
R²
0.19
Explained by SPY
Correlation
0.43
Daily returns
Vol CRM
36.0%
Annualized
Vol SPY
17.0%
Annualized
Key Observations
- Market-like (β = 0.91): CRM moves roughly in step with SPY — a 1% benchmark move maps to ~0.91%.
- Benchmark explains only 19% of CRM's daily variance (R² = 0.19): SPY is a poor fit — beta is statistically weak and driven mostly by idiosyncratic moves.
- Forward-looking adjusted beta ≈ 0.94 (Blume: pulls the raw β one-third of the way toward the market's 1.0).
- α ≈ -31.3%/yr: after stripping out market exposure, CRM underperformed SPY over the window (extrapolated from the daily intercept; not a forecast).
- Annualized volatility: CRM 36.0% vs SPY 17.0% — 2.11× as volatile (more than the benchmark).
Derived from the values above · point-in-time over the selected window · not investment advice.