SmallCap Value II Inst Fund (PPVIX) |
Alpha- The difference between an investment's actual returns and its expected performance, given its level of risk (as measured by beta). |
Beta- An investment's sensitivity to market movements. |
R-Squared- Ranges from 0 to 100 and reveals how closely an investment's returns track those of a benchmark index. |
Standard Deviation- Measures how much an investment's returns are likely to fluctuate. |
Mean- Represents the annualized total return for a fund over 3 years. |
Sharpe Ratio- Measures how an investment balances risks and rewards. The higher the Sharpe ratio, the better the investment's historical risk-adjusted performance. |
Excess Return- The difference between an investment option's return and the return of an external standard such as a passive index. |
Tracking Error- Also known as "excess risk", is defined as the standard deviation or volatility of excess returns. |
Information Ratio- A risk-adjusted measure commonly used to evaluate an active manager's involvement skill. It's defined as the manager's excess return divided by the variability or standard deviation of the excess return. |
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