n. 1.  The second letter of the Greek alphabet. See Table at  alphabet. 2.  The second item in a series or system of classification. 3.  A mathematical measure of the sensitivity of rates of return on a portfolio or a given stock compared with rates of return on the market as a whole. A beta of 1.0 indicates that an asset closely follows the market; a beta greater than 1.0 indicates greater volatility than the market.  4.  Astronomy   The second brightest star in a constellation. 5.  Computers   The version of a software or hardware product used in a beta test. adj. 1.  Being the second-ranked individual of one's sex. Used of social animals: the beta male of the chimpanzee colony. 2.  Chemistry   a.  Being in the second position relative to a designated carbon atom in an organic molecule at which an atom or a group may be substituted. b.  Referring to the second of a group of isomers, or molecules of similar origin or properties, determined arbitrarily by those who discover or classify them. Used in combination: beta-estradiol 3.  Computers   Of or relating to a beta test or the software or hardware involved in a beta test.  | 
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