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Lecture 31: "Beta Hedging" - What values to expect of alpha?

From lecture 31: "Beta Hedging" I noticed the alpha and beta values for Tesla to S&P 500. Does it make sense that the alpha should be that low(0.1%)? Theoretically, if the market stays flat, this stock would generate approximately 0% in returns?

alpha: 0.00108062811902
beta: 1.92705010047