Learn
The methods behind every number on the dashboard, in plain words, with worked examples.
Spot the lucky one: can you tell skill from luck in two years of returns?
A game: four investors over the same two years, one with a real edge and three with none. Pick the one with the edge, then see how hard it was, by the same skill check Luck Filter runs on a real record.
ReadTime-weighted return vs Modified Dietz: which one is right?
Why two honest returns for the same account can disagree, how each one is worked out, and which to use for comparing with an index and which for what your money earned.
ReadSkill or luck? How alpha, the t-stat and the p-value test an investing record
How Luck Filter tests whether a record beat its benchmark by more than chance: the regression behind alpha and beta, what the t-stat and p-value mean, why short records rarely prove anything, and how leanings towards size, value and momentum are taken out.
ReadEvery number Luck Filter measures, and how
Plain definitions of the returns, risk figures and skill statistics on the dashboard: time-weighted return, CAGR, Modified Dietz, Sharpe, Sortino, maximum drawdown, capture ratios, alpha, beta, t-stat and p-value.
Read
Free tools: try the methods on your own numbers
Skill or luck from yearly returns, how long an edge takes to prove, what a fall takes to recover, and time-weighted return against Modified Dietz. Nothing you type is stored.
Open the tools