_______ gives the excess return of a hypothetical portfolio over the market portfolio while they carry the same risk. A) The Treynor ratio B) The Tobin's q C) The Jensen's alpha D) The Sharpe ratio E) The M² measure

Question

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The M² measure, or Modigliani-Modigliani measure, adjusts a portfolio's return to match the risk level of the market portfolio, allowing for a direct comparison of excess returns.

_______ Gives the Excess Return of a Hypothetical Portfolio Over