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Which of the following statements are true regarding the beta measurement for an equity investment? A. The beta measurement is based on the ratio of

Which of the following statements are true regarding the beta measurement for an equity investment?

A. The beta measurement is based on the ratio of covariance between the stock and market and the market variance.
B. The beta measures the relative degree of risk that cannot be eliminated by diversification into a portfolio of investments.
C. The beta measurement can be positive, negative, or zero.
D. All of the above are true.

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