Thats a good point Stocks..,there really must be a sampling period and that needs to be IMO at least a qtr of trading to be a meaningful sample....but beta may change radically after and into the following qtr(s).Given a very long period on GZ it would indeed be high beta IMO but if near term conditions or recent trading is considered as the period then the beta is obviously low or should be.Where there is no swing to speak of there is no volatility.