What is cryptocurrency excess market return (cmkt)?
Could you please elaborate on the concept of cryptocurrency excess market return (CMKT)? I'm curious to understand what it represents in the realm of cryptocurrency finance. Specifically, I'm interested in how it differs from traditional market returns and what factors influence its calculation. Is it a measure of how a particular cryptocurrency outperforms the overall market, or does it capture something else entirely? Also, how do investors typically utilize CMKT in their decision-making processes? Thank you for clarifying this intricate financial concept.