EODHD Academy

Measuring Performance

Judging results honestly — fair benchmarks, risk-adjusted return, drawdown and time under water, alpha versus beta, your return versus the headline, and how much of any record is simply luck.

4 units · 16 lessons · 59 min read · plus hands-on practice, at your pace

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What is a benchmark actually for?

Benchmarks · 4 min read · practitioner

Start the first lesson

Unit 1 Benchmarks

  1. What is a benchmark actually for? 4 min
  2. How do you choose a benchmark that can't be gamed? 4 min
  3. How does the wrong benchmark flatter a record? 3 min
  4. How far from the benchmark are you actually straying? 3 min
Practice Check · Unit 1 A short check · cannot be failed Start

Unit 2 Risk-Adjusted Return

  1. Why is a return meaningless without its risk? 3 min
  2. How do you compute a Sharpe ratio without fooling yourself? 4 min
  3. Should upside volatility count as risk? 5 min
  4. How much active return per unit of active risk? 3 min
Practice Check · Unit 2 A short check · cannot be failed Start

Unit 3 Drawdown and the Investor's Experience

  1. What does a drawdown actually measure? 4 min
  2. How long were you under water? 3 min
  3. Can you put return per unit of pain into one number? 3 min
  4. Why is your return different from the fund's headline? 4 min
Practice Check · Unit 3 A short check · cannot be failed Start

Unit 4 Skill, Luck and Attribution

  1. Was that skill, or just a rising market? 4 min
  2. Where did the outperformance actually come from? 4 min
  3. How many years before a track record means anything? 4 min
  4. Measuring performance — course checkpoint 4 min
Practice Check · Unit 4 A short check · cannot be failed Start

Last Course exam

One exam, the whole course Unlocks when you have read all 16 lessons

Passing it earns the course certificate.