I ran a linear regression with one dependent and one explanatory variable. The data covers log returns of an index and log returns of a stock (natural logarithm). log return of stock = Alpha + Beta + log return of index + error
The p value for the Beta estimate is <2e-16. I googled the meaning of this number, which means that the p value is extremely close to zero, but it does not equal to zero.
Now I am confused, since values below 0.01 show significant results, but what if the p value is practically zero? Does it mean that the regression provides a perfect fit?