What is the beta of a stock with the following?

Question

The standard deviation of a market index is 8%. What is the beta of a stock whose covariance with market index is 0.006. The answer is 0.94, but how do you get it?

Answer 1

According to wikipedia, the formula works like this.

.006/.08=.075

If the beta is really .94, then there's probably something wrong with your covariance figure, which I would imagine would be higher anyways.