Empirical results regarding betas estimated from historical data indicate that betas

A) are constant over time.
B) are always greater than one.
C) are always near zero.
D) appear to regress toward one over time.
E) are always positive.

Historical Data

Past information and records about an entity or market's performance, which are used for research, analysis, and planning.

Betas

A measure of the volatility, or systematic risk, of a security or portfolio in comparison to the market as a whole; it indicates how much the asset's price is expected to move relative to market movements.