PT  - JOURNAL ARTICLE
AU  - Martin L. Leibowitz
TI  - The β-Plus Measure in Asset Allocation
AID  - 10.3905/jpm.2004.412316
DP  - 2004 Apr 30
TA  - The Journal of Portfolio Management
PG  - 26--36
VI  - 30
IP  - 3
4099  - https://pm-research.com/content/30/3/26.short
4100  - https://pm-research.com/content/30/3/26.full
AB  - The explicit covariance matrix employed in the standard asset allocation process can also be used to develop an analytic beta measure of the portfolio?s exposure to the equity market. While these allocation-level beta measures are typically not an element in the routine performance reports of U.S. pension and endowment funds, they would be an informative addition. There are powerful arguments for routine incorporation of beta measures in asset allocation studies as a separate component of risk specification.