Renaissance Technologies

5881.11 - 5907.296 Ben Gilbert

Exactly. So it's named after the economist William F. Sharp. It was pioneered in 1966. It is effectively the measure of a fund's performance relative to the risk-free rate. So if you performed at 15% that year and the risk-free rate was 3%, then your numerator is going to be 12%. And it is compared against the volatility or the standard deviation is technically what it is. But effectively...