Justin Thomas ran a regression of Tesla monthly excess stock returns (in %) on the...

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Finance

Justin Thomas ran a regression of Tesla monthly excess stock returns (in %) on the market excess returns (also in %). Part of the single-factor regression output is shown below.

Regression Statistics
Multiple R 0.294544
R Square 0.086756
Adjusted R Square 0.07371
Standard Error 15.28772
Observations 72

How much of the variation in Tesla monthly excess returns is explained by the variation in the market excess returns?

0.294544

0.086756

0.07371

72

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