Security characteristic line (SCL) is a
regression line,[1] plotting performance of a particular security or portfolio against that of the
market portfolio at every point in time. The SCL is plotted on a graph where the Y-axis is the excess return on a security over the
risk-free return and the X-axis is the excess return of the market in general. The slope of the SCL is the security's
beta, and the intercept is its
alpha.[2]