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The value of R square would not decrease when more variables are added to the model. As a result, there is always a temptation to add more variables in the model, because of which problem can arise therefore in that case Adjusted R2 is used as a measure.
R-squared measures how closely each change in the price of an asset is correlated to a benchmark. Beta measures how large those price changes are, in relation to a benchmark. Used together, R-squared and Beta give investors a thorough picture of the performance of asset managers. R=squared is a measure of the percentage of an asset or fund's performance as a result of a benchmark. R squared is reported as a number between 0 and 100. A hypothetical mutual fund with an R-squared of 0 has no correlation to its benchmark at all. A mutual fund with an R-squared of 100 matches the performance of its benchmark precisely.