Alpha

Alpha factors in the volatility of an asset in determining its risk adjusted return in comparison with a certain benchmark. The extra return from the asset in comparison with the benchmark would be its alpha.

A positive whole number for alpha such as 2.0 means the fund itself has outperformed its benchmark by 2%. A negative alpha would equate to a -% return.

Other greek terms include Beta, Delta, Gamma, Rho, Theta, and Vega.