Rt = return of subject for time period t
Rbm,t = return of benchmark for time period t
T = number of periods, and there are n such periods in a year
Monthly,
Annualized,
This measures only deviations above a specified benchmark.
Rt = return of subject for time period t
Rbm,t = return of benchmark for time period t
T = number of periods, and there are n such periods in a year
Monthly,
Annualized,