Sharpe Ratio Study 3

	A	B	D	E	F	H	I	J	L	M	N
1	Sharpe Ratio Study. Assumptions: Each fund starts with beginning balance of $1000. Benchmark fund has 1% return per period.
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4		Benchmark		Fund A			Fund B			Fund C
5	Benchmark Fund		Fund A			Fund B			Fund C
6	Rate of return (per period)	Balance	Rate of return (per period)	Balance	difference in return from benchmark	Rate of return (per period)	Balance	difference in return from benchmark	Rate of return (per period)	Balance	difference in return from benchmark
7		$1,000.00		$1,000.00			$1,000.00			$1,000.00
8	1.00%	$1,010.00	1.10%	$1,011.00	0.1%	1.00%	$1,010.00	0.00%	1.50%	$1,015.00	0.50%
9	1.00%	$1,020.10	1.10%	$1,022.12	0.1%	1.05%	$1,020.61	0.05%	1.48%	$1,030.04	0.48%
10	1.00%	$1,030.30	1.10%	$1,033.36	0.1%	1.10%	$1,031.83	0.10%	1.46%	$1,045.13	0.46%
11	1.00%	$1,040.60	1.10%	$1,044.73	0.1%	1.15%	$1,043.70	0.15%	1.45%	$1,060.24	0.45%
12	1.00%	$1,051.01	1.10%	$1,056.22	0.1%	1.20%	$1,056.22	0.20%	1.43%	$1,075.39	0.43%
13	1.00%	$1,061.52	1.10%	$1,067.84	0.1%	1.25%	$1,069.42	0.25%	1.41%	$1,090.56	0.41%
14	1.00%	$1,072.14	1.10%	$1,079.59	0.1%	1.30%	$1,083.33	0.30%	1.39%	$1,105.75	0.39%
15	1.00%	$1,082.86	1.10%	$1,091.46	0.1%	1.35%	$1,097.95	0.35%	1.38%	$1,120.95	0.38%
16	1.00%	$1,093.69	1.10%	$1,103.47	0.1%	1.40%	$1,113.32	0.40%	1.36%	$1,136.17	0.36%
17	1.00%	$1,104.62	1.10%	$1,115.61	0.1%	1.45%	$1,129.47	0.45%	1.34%	$1,151.38	0.34%
18	1.00%	$1,115.67	1.10%	$1,127.88	0.1%	1.50%	$1,146.41	0.50%	1.32%	$1,166.60	0.32%
19	1.00%	$1,126.83	1.10%	$1,140.29	0.1%	1.55%	$1,164.18	0.55%	1.30%	$1,181.81	0.30%
20	1.00%	$1,138.09	1.10%	$1,152.83	0.1%	1.60%	$1,182.81	0.60%	1.29%	$1,197.00	0.29%
21	1.00%	$1,149.47	1.10%	$1,165.51	0.1%	1.65%	$1,202.32	0.65%	1.27%	$1,212.18	0.27%
22	1.00%	$1,160.97	1.10%	$1,178.33	0.1%	1.70%	$1,222.76	0.70%	1.25%	$1,227.33	0.25%
23	1.00%	$1,172.58	1.10%	$1,191.29	0.1%	1.75%	$1,244.16	0.75%	1.23%	$1,242.45	0.23%
24	1.00%	$1,184.30	1.10%	$1,204.40	0.1%	1.80%	$1,266.55	0.80%	1.21%	$1,257.54	0.21%
25	1.00%	$1,196.15	1.10%	$1,217.65	0.1%	1.85%	$1,289.99	0.85%	1.20%	$1,272.58	0.20%
26	1.00%	$1,208.11	1.10%	$1,231.04	0.1%	1.90%	$1,314.49	0.90%	1.18%	$1,287.58	0.18%
27	1.00%	$1,220.19	1.10%	$1,244.58	0.1%	1.95%	$1,340.13	0.95%	1.16%	$1,302.53	0.16%
28	1.00%	$1,232.39	1.10%	$1,258.27	0.1%	2.00%	$1,366.93	1.00%	1.14%	$1,317.41	0.14%
29	1.00%	$1,244.72	1.10%	$1,272.11	0.1%	2.05%	$1,394.95	1.05%	1.13%	$1,332.24	0.13%
30	1.00%	$1,257.16	1.10%	$1,286.11	0.1%	2.10%	$1,424.25	1.10%	1.11%	$1,346.98	0.11%
31	1.00%	$1,269.73	1.10%	$1,300.25	0.1%	2.15%	$1,454.87	1.15%	1.09%	$1,361.66	0.09%
32	1.00%	$1,282.43	1.10%	$1,314.56	0.1%	2.20%	$1,486.87	1.20%	1.07%	$1,376.25	0.07%
33	1.00%	$1,295.26	1.10%	$1,329.02	0.1%	2.25%	$1,520.33	1.25%	1.05%	$1,390.75	0.05%
34	1.00%	$1,308.21	1.10%	$1,343.63	0.1%	2.30%	$1,555.30	1.30%	1.04%	$1,405.15	0.04%
35	1.00%	$1,321.29	1.10%	$1,358.41	0.1%	2.35%	$1,591.85	1.35%	1.02%	$1,419.45	0.02%
36	1.00%	$1,334.50	1.11%	$1,373.49	0.11%	2.40%	$1,630.05	1.40%	1.00%	$1,433.65	0.00%
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38				mean (of differences)	0.10%		mean (of differences)	0.70%		mean (of differences)	0.25%
39				std deviation (of differences)	0.00%		std deviation (of differences)	0.43%		std deviation (of differences)	0.15%
40				Sharpe Ratio	54.0373		Sharpe Ratio	1.6442		Sharpe Ratio	1.6442
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