Generalising universal performance measures
Performance and risk measurement are fundamental quantitative activities in finance, andnew ways of measuring them are always of interest. A recently proposed procedure is theuniversal performance measure. Theofanis Darsinos and Stephen Satchell show that, in fact, it is a special case of a class of measures and not necessarily the best measure in this class.Consultants and fund managers may find these methods appealing, however, as they do provide a succinct summary of financial performance/risk
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