Blog
Educational articles on dividends, performance, risk, and portfolio composition.
Fund managers and commentators often sound like they're contradicting each other. Usually they're not — they're just answering a question you didn't ask.
The most intuitive risk number on the dashboard, and the one most likely to have crept up on you by accident. Here's what your Top 5 and Top 10 figures actually mean.
4 min readRiskBeta measures how much your portfolio moves with the market — but it's not the same thing as 'risky.' Here's what it actually tells you, and what it doesn't.
4 min readRiskA higher return doesn't always mean you did something clever — sometimes it just means you took on more risk. Jensen's Alpha is the number that tells the two apart.
4 min readRiskSharpe, Sortino, and Calmar are all just return divided by risk — the difference is which risk number they use. Here's what those two numbers actually mean.
5 min readPerformanceWhat building the actual calculation taught me that the theory never did.
10 min readRiskSharpe and Sortino measure smoothness. Calmar asks a blunter question — how bad was the single worst stretch, and was it worth it?
3 min read