MCTR Question - Please help me Bill Campbell III!

CFA Level III Equities
#1

The formula for MCTR is stated as Beta of asset i * st. dev portfolio

Wouldn’t Beta of asset i with respect to the portfolio be: Cov(Ri, Rp)/st. dev portfolio

Thus, MCTR = Bi *st. dev p = Cov(Ri,Rp)/st. dev p * st. dev p = Cov(Ri,Rp)??? How is the MCTR just the covariance. does this make sense?

#2

Beta is calculated by dividing the covariance of the asset’s returns and the portfolio’s returns by the variance of the portfolio’s returns not the standard deviation.