What beta should you use for CAPM?

When it comes to selecting the appropriate beta for the Capital Asset Pricing Model (CAPM), there are several factors to consider. Are you looking to use a historical beta, which is based on past performance and can be calculated using regression analysis? Or perhaps you're interested in a forward-looking beta, which aims to predict future volatility? Additionally, should you use a specific beta for your industry, or one that is tailored to your individual company? The answer to these questions will depend on your investment objectives and risk tolerance. Can you explain your reasoning for choosing a particular beta, and how it aligns with your overall investment strategy?