贝塔相关指数达到1以上的资产，较之身处牛市涨势还快，或者是比身处熊市下跌的还快。若此时相关指数不到1的话，资产波动幅度就没有这么剧烈了。
An asset with a beta of more than 1 rises more than the market in bull phases (or falls more when the market drops); an asset with a beta of less than 1 moves less violently.
随着市场的扩大，整个市场的交易量与股价指数波动变化的幅度也随之扩大。
As the market developing, the trading volume has expanded greatly and the volatility of stock index become highly.
深圳市场股价指数本身的波动幅度要大于上海市场，而股价指数月度超额收益率的波动情况则相反； 只有一部分投机者的投机收益为正；
The index of Shenzhen market is more volatile than Shanghai, monthly excessive return rate is opposite between two markets Only a part of speculator could gain positive retum.
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