Practical analysis for investment professionals

Performance Measurement & Evaluation


Do Sentiment Metrics Matter to the Markets?

How much correlation is there between consumer and business sentiment metrics and market returns?

Rethinking Retirement Planning Outcome Metrics

Retirement, like life, is fundamentally uncertain. That's why we need to provide clients with more context about what missing their retirement-income goals might look like.

Equity and Bond Correlations: Higher Than Assumed?

What correlations should we trust? Those based on daily or monthly return data?

Valuing Digital Assets with TradFi Tools: Three Methods

Not all traditional investment management techniques are applicable to digital assets, but sector breakdowns, DCF models, and risk factor modeling are solid starting points.

COVID-19 Correlations: Local Cases, Local Returns?

Do local COVID-19 case counts have any correlation with local stock returns?

Economic Value of Equity (EVE): Protection from Rising Interest Rates

Economic value of equity (EVE) can help determine how well a company can weather interest rate hikes.

Not All NAVs Are Created Equal

How can investors price NAV valuations and efficiently transfer their eventual risk?

How Sharp Is the Sharpe Ratio? An Analysis of Global Stock Indices

To test the Sharpe Ratio’s effectiveness, we constructed monthly return distributions for global stock market indices to see if any had too much skewness.

Extremely Successful? Extremely Lucky!

What's more critical to investing success: luck or skill?

Tell Me a Story: Aswath Damodaran on Valuing Young Companies

When valuing companies, "You don't have to be right to make money," Aswath Damodaran says. "You just have to be less wrong than everybody else.”