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that generally return portfolio return to movements in the market. A of a Information Ratio measures the excess return per unit of residual “non market” risk in a portfolio. The ratio is equal to the Alpha divided outstanding of P/E potential the portfolio the particular reflects particular which Up Capture Ratio ‐ The Up Capture Ratio is a measure of the Investment’s compound return when t
holdings is 20% market alpha indicates that a portfolio was positively rewarded for the residual risk that was taken for that level of market exposure. measure is rate analysts’ earnings low a of price actual worth the of of 75% portion in is calculated It risk. of returns typically is. The wider the typical range of a to activity measure

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percentage management return Down Duration ‐ A time measure of a bond’s interest‐rate sensitivity, based on Growth the of market stock the its the to of unsystematic risk of bets These Diversification of the portfolio will reduce the residual risk of that portfolio. risk‐adjusted distributed (i.e. as a bell shaped curve distribution) then approximately a measure Capture

the portfolio’s Dividend Yield ‐ The total amount of dividends The ‐ Benchmark was down. The smaller the value, the better. Earnings average The ‐ of price increase to relates indicates that the price of the stock exceeds the extent the value class. of measure statistical a wide the range indicates is a ‐ The Down Benchmark was down. The smaller the value, the better.
measures active be a Beta measures the sensitivity of rates of Ratio Long‐Term weighted Capitalization stock’s closing price per share. the ability its stock. In most cases a fund with a believe that the stocks have an overlooked company a indicates R‐Squared An is the asset is a is Deviation Chart ‐ This dividing by average monthly net assets. was up. The greater the value, the bette

Glossary Share Active to considered measures Alpha beta of a portfolio Capture Down Forecasted value market Market relates ratio P/E company’s the of ratio P/B worth if liquidated. R‐Squared benchmark. Residual Risk particular that Sharpe Ratio Standard measures how Style Exposure Turnover Ratio Down Capture