{"id":"W4406104778","doi":"10.54254/2754-1169/2024.19316","title":"Beyond CAPM: The Rise and Relevance of Arbitrage Pricing Theory in Modern Investment Strategies","year":2025,"lang":"en","type":"article","venue":"Advances in Economics Management and Political Sciences","topic":"Financial Markets and Investment Strategies","field":"Economics, Econometrics and Finance","cited_by":1,"is_retracted":false,"has_abstract":true,"ca_institutions":"McMaster University","funders":"","keywords":"Capital asset pricing model; Investment theory; Arbitrage pricing theory; Diversification (marketing strategy); Consumption-based capital asset pricing model; Economics; Financial economics; Arbitrage; Portfolio; Market portfolio; Business; Marketing","routes":{"ca_aff":true,"ca_fund":false,"ca_venue":false,"about_ca":false,"invisible_to_affiliation_only":false},"retraction":null,"screen":null,"direct_labels":[],"prediction":{"model_version":"metacan-v3-hybrid-931329e0061c","candidate_categories":[],"consensus_categories":[],"category_scores_codex":[0.006937774,0.000913656,0.001473822,0.002255068,0.0008390949,0.005895033,0.001398498,0.002961281,0.002534766],"category_scores_gemma":[0.01703841,0.0004447364,0.001168848,0.002854674,0.006384632,0.0116484,0.002096176,0.00502105,0.0005015078],"about_ca_system_candidate":false,"about_ca_system_consensus":false,"about_ca_system_score_codex":0.002122286,"about_ca_system_score_gemma":0.001849711,"about_ca_topic_candidate":false,"about_ca_topic_consensus":false,"about_ca_topic_score_codex":0.001279868,"about_ca_topic_score_gemma":0.0005859374,"domain_scores_codex":[0.9970313,0.001496248,0.00012703,0.0003302817,0.0008918695,0.0001231714],"domain_scores_gemma":[0.9910286,0.006735738,0.0005989433,0.0007303417,0.0007276526,0.0001787083],"domain_codex":null,"domain_gemma":null,"domain_candidate":null,"domain_consensus":null,"study_design_codex":"theoretical_or_conceptual","study_design_gemma":"theoretical_or_conceptual","study_design_scores_codex":[0.000009971058,0.00001690966,0.0005684817,0.0001403438,0.00002044838,0.00009038714,0.0002427663,0.006803336,0.0001292703,0.9668141,0.0005494531,0.02461455],"study_design_scores_gemma":[0.000004031801,0.00002955734,0.0004098277,0.0001461357,0.000009121001,0.0000908089,0.00008926115,0.03135148,0.00009509143,0.9601949,0.007562113,0.0000177071],"study_design_candidate":"theoretical_or_conceptual","study_design_consensus":"theoretical_or_conceptual","genre_codex":"methods","genre_gemma":"empirical","genre_scores_codex":[0.05191444,0.08740526,0.7466658,0.02496233,0.0009033207,0.0001176144,0.00012471,0.000157045,0.0877495],"genre_scores_gemma":[0.8925102,0.03029928,0.06802776,0.001715482,0.001955525,0.000142555,0.00006382273,0.00006123378,0.005223989],"genre_candidate":"empirical","genre_consensus":null,"teacher_disagreement_score":0.006937774,"threshold_uncertainty_score":0.03669089,"prediction_status":"machine_predicted_unvalidated"},"machine_scores":{"provisional":true,"baseline":true,"maturity_gate_passed":false,"score_opus":0.01162530998372447,"score_gpt":0.2390721221482694,"score_spread":0.227446812164545,"validation_status":"score_only:v0-immature-baseline","note":"Baseline scores from an immature model (maturity gate not passed). Scores rank; they never assert a category."}}