Poly Real Estate's beta coefficient in 2020 is 0.8. The beta coefficient is a statistical concept. It reflects the performance of a certain investment object relative to the broader market.

The larger the absolute value, the greater the change in its income relative to the broader market; the smaller the absolute value, the smaller the change in its earnings relative to the broader market.

If it is a negative value, it means that its direction of change is opposite to that of the market; when the market goes up, it goes down, and when the market goes down, it goes up.

Since we invest in investment funds to obtain expert financial management services to achieve better performance than passive investment in the broader market, this indicator can be used to examine the fund manager's ability to reduce investment volatility risks.

When calculating the beta coefficient, in addition to the fund's performance data, there are also indicators that reflect the performance of the market.