Beta is a coefficient that serves as a gauge of an asset’s volatility relative to a designated market benchmark. 

A market benchmark typically carries a beta of 1. In simple terms, if an asset has a beta of 1.5, it implies that the asset is 50% more volatile than the market itself. In the case of U.S. stocks, the market benchmark is represented by the S&P 500.

However, when it comes to Indian markets, there are two prominent market benchmarks to consider: NSE and SENSEX. 

This tool offers you the option to select from a list of FNO stocks, and it will provide you with the beta value of the chosen stock in relation to both of these benchmarks. There were no website which was calculating the beta with both the benchmark, That’s why this tool!