You run a regression of a stock's excess return on the market excess return and obtain the following results Multiple R R Square Adjusted R Square Standard Error Observations 0.35 0.12 0.02 38.45 12 Coefficients 4.05 1.32 Intercept Market Standard Error 15.44 0.97 Stat 0.26 1.36 P-value .80 .10 The alpha of the stock is O 0.12 0.35 1.32 4.05 so