Dear,

I want to ask in the CPAM model, the beta which is a measure of security's return co-movement with the market portfolio. My questions are if the beta equal to 0, which the security is a risk free asset, so does that means the unsystematic risk is also 0? I know the systematic for beta=0 asset is 0 since the beta is a measure of systematic risk.

And second one is when beta=1, the security and market has the same risk, does the risk refers to systematic risk or total risk? And does the market has the unsystematic risk?

Thanks