What is the beta β of the stock?

Excuse me, could you please elaborate on the beta β of the stock you mentioned? I understand that beta is a measure of a stock's volatility compared to the overall market, but I'm curious about how exactly it's calculated and what it signifies for potential investors. For instance, if a stock has a beta of 1.5, how would that impact its risk and potential returns compared to a stock with a beta of 0.5? Additionally, are there any factors that could influence the beta of a stock over time?