Making Sense Out of Upside/Downside Capture Metrics
January 22, 2018 at 12:57 PM EST
By Marc Odo, Swan Global Investments It can be discouraging when an active manager’s short-term up capture isn’t on par with their long-term up capture. But this is a side effect of the measuring and using averages for risk/return metrics, returns, and the like. Averages naturally mask individual...