Portfolio Evaluation Archives - ARFA Markets

<img loading="lazy" data-src="http://arfa.markets/wp-content/uploads/2024/11/brandmark-design-140x30-1.png" alt="ARFA Markets" width="75" height="20" src="data:image/gif;base64,R0lGODlhAQABAAAAACH5BAEKAAEALAAAAAABAAEAAAICTAEAOw==" class="lazyload" style="--smush-placeholder-width: 75px; --smush-placeholder-aspect-ratio: 75/20;"><noscript><img loading="lazy" data-src="http://arfa.markets/wp-content/uploads/2024/11/brandmark-design-140x30-1.png" alt="ARFA Markets" width="75" height="20" src="data:image/gif;base64,R0lGODlhAQABAAAAACH5BAEKAAEALAAAAAABAAEAAAICTAEAOw==" class="lazyload" style="--smush-placeholder-width: 75px; --smush-placeholder-aspect-ratio: 75/20;"><noscript><img loading="lazy" data-src="http://arfa.markets/wp-content/uploads/2024/11/brandmark-design-140x30-1.png" alt="ARFA Markets" width="75" height="20" src="data:image/gif;base64,R0lGODlhAQABAAAAACH5BAEKAAEALAAAAAABAAEAAAICTAEAOw==" class="lazyload" style="--smush-placeholder-width: 75px; --smush-placeholder-aspect-ratio: 75/20;"><noscript><img loading="lazy" data-src="http://arfa.markets/wp-content/uploads/2024/11/brandmark-design-140x30-1.png" alt="ARFA Markets" width="75" height="20" src="data:image/gif;base64,R0lGODlhAQABAAAAACH5BAEKAAEALAAAAAABAAEAAAICTAEAOw==" class="lazyload" style="--smush-placeholder-width: 75px; --smush-placeholder-aspect-ratio: 75/20;"><noscript><img loading="lazy" data-src="http://arfa.markets/wp-content/uploads/2024/11/brandmark-design-140x30-1.png" alt="ARFA Markets" width="75" height="20" src="data:image/gif;base64,R0lGODlhAQABAAAAACH5BAEKAAEALAAAAAABAAEAAAICTAEAOw==" class="lazyload" style="--smush-placeholder-width: 75px; --smush-placeholder-aspect-ratio: 75/20;"><noscript><img loading="lazy" data-src="http://arfa.markets/wp-content/uploads/2024/11/brandmark-design-140x30-1.png" alt="ARFA Markets" width="75" height="20" src="data:image/gif;base64,R0lGODlhAQABAAAAACH5BAEKAAEALAAAAAABAAEAAAICTAEAOw==" class="lazyload" style="--smush-placeholder-width: 75px; --smush-placeholder-aspect-ratio: 75/20;"><noscript><img loading="lazy" data-src="http://arfa.markets/wp-content/uploads/2024/11/brandmark-design-140x30-1.png" alt="ARFA Markets" width="75" height="20" src="data:image/gif;base64,R0lGODlhAQABAAAAACH5BAEKAAEALAAAAAABAAEAAAICTAEAOw==" class="lazyload" style="--smush-placeholder-width: 75px; --smush-placeholder-aspect-ratio: 75/20;"><noscript><img loading="lazy" data-src="http://arfa.markets/wp-content/uploads/2024/11/brandmark-design-140x30-1.png" alt="ARFA Markets" width="75" height="20" src="data:image/gif;base64,R0lGODlhAQABAAAAACH5BAEKAAEALAAAAAABAAEAAAICTAEAOw==" class="lazyload" style="--smush-placeholder-width: 75px; --smush-placeholder-aspect-ratio: 75/20;"><noscript><img loading="lazy" src="http://arfa.markets/wp-content/uploads/2024/11/brandmark-design-140x30-1.png" alt="ARFA Markets" width="75" height="20" >

<img loading="lazy" data-src="http://arfa.markets/wp-content/uploads/2024/11/brandmark-design-140x30-1.png" alt="ARFA Markets" width="75" height="20" src="data:image/gif;base64,R0lGODlhAQABAAAAACH5BAEKAAEALAAAAAABAAEAAAICTAEAOw==" class="lazyload" style="--smush-placeholder-width: 75px; --smush-placeholder-aspect-ratio: 75/20;"><noscript><img loading="lazy" data-src="http://arfa.markets/wp-content/uploads/2024/11/brandmark-design-140x30-1.png" alt="ARFA Markets" width="75" height="20" src="data:image/gif;base64,R0lGODlhAQABAAAAACH5BAEKAAEALAAAAAABAAEAAAICTAEAOw==" class="lazyload" style="--smush-placeholder-width: 75px; --smush-placeholder-aspect-ratio: 75/20;"><noscript><img loading="lazy" data-src="http://arfa.markets/wp-content/uploads/2024/11/brandmark-design-140x30-1.png" alt="ARFA Markets" width="75" height="20" src="data:image/gif;base64,R0lGODlhAQABAAAAACH5BAEKAAEALAAAAAABAAEAAAICTAEAOw==" class="lazyload" style="--smush-placeholder-width: 75px; --smush-placeholder-aspect-ratio: 75/20;"><noscript><img loading="lazy" data-src="http://arfa.markets/wp-content/uploads/2024/11/brandmark-design-140x30-1.png" alt="ARFA Markets" width="75" height="20" src="data:image/gif;base64,R0lGODlhAQABAAAAACH5BAEKAAEALAAAAAABAAEAAAICTAEAOw==" class="lazyload" style="--smush-placeholder-width: 75px; --smush-placeholder-aspect-ratio: 75/20;"><noscript><img loading="lazy" data-src="http://arfa.markets/wp-content/uploads/2024/11/brandmark-design-140x30-1.png" alt="ARFA Markets" width="75" height="20" src="data:image/gif;base64,R0lGODlhAQABAAAAACH5BAEKAAEALAAAAAABAAEAAAICTAEAOw==" class="lazyload" style="--smush-placeholder-width: 75px; --smush-placeholder-aspect-ratio: 75/20;"><noscript><img loading="lazy" data-src="http://arfa.markets/wp-content/uploads/2024/11/brandmark-design-140x30-1.png" alt="ARFA Markets" width="75" height="20" src="data:image/gif;base64,R0lGODlhAQABAAAAACH5BAEKAAEALAAAAAABAAEAAAICTAEAOw==" class="lazyload" style="--smush-placeholder-width: 75px; --smush-placeholder-aspect-ratio: 75/20;"><noscript><img loading="lazy" data-src="http://arfa.markets/wp-content/uploads/2024/11/brandmark-design-140x30-1.png" alt="ARFA Markets" width="75" height="20" src="data:image/gif;base64,R0lGODlhAQABAAAAACH5BAEKAAEALAAAAAABAAEAAAICTAEAOw==" class="lazyload" style="--smush-placeholder-width: 75px; --smush-placeholder-aspect-ratio: 75/20;"><noscript><img loading="lazy" data-src="http://arfa.markets/wp-content/uploads/2024/11/brandmark-design-140x30-1.png" alt="ARFA Markets" width="75" height="20" src="data:image/gif;base64,R0lGODlhAQABAAAAACH5BAEKAAEALAAAAAABAAEAAAICTAEAOw==" class="lazyload" style="--smush-placeholder-width: 75px; --smush-placeholder-aspect-ratio: 75/20;"><noscript><img loading="lazy" src="http://arfa.markets/wp-content/uploads/2024/11/brandmark-design-140x30-1.png" alt="ARFA Markets" width="75" height="20" >

<img loading="lazy" data-src="http://arfa.markets/wp-content/uploads/2024/11/brandmark-design-140x30-1.png" alt="ARFA Markets" width="75" height="20" src="data:image/gif;base64,R0lGODlhAQABAAAAACH5BAEKAAEALAAAAAABAAEAAAICTAEAOw==" class="lazyload" style="--smush-placeholder-width: 75px; --smush-placeholder-aspect-ratio: 75/20;"><noscript><img loading="lazy" data-src="http://arfa.markets/wp-content/uploads/2024/11/brandmark-design-140x30-1.png" alt="ARFA Markets" width="75" height="20" src="data:image/gif;base64,R0lGODlhAQABAAAAACH5BAEKAAEALAAAAAABAAEAAAICTAEAOw==" class="lazyload" style="--smush-placeholder-width: 75px; --smush-placeholder-aspect-ratio: 75/20;"><noscript><img loading="lazy" data-src="http://arfa.markets/wp-content/uploads/2024/11/brandmark-design-140x30-1.png" alt="ARFA Markets" width="75" height="20" src="data:image/gif;base64,R0lGODlhAQABAAAAACH5BAEKAAEALAAAAAABAAEAAAICTAEAOw==" class="lazyload" style="--smush-placeholder-width: 75px; --smush-placeholder-aspect-ratio: 75/20;"><noscript><img loading="lazy" data-src="http://arfa.markets/wp-content/uploads/2024/11/brandmark-design-140x30-1.png" alt="ARFA Markets" width="75" height="20" src="data:image/gif;base64,R0lGODlhAQABAAAAACH5BAEKAAEALAAAAAABAAEAAAICTAEAOw==" class="lazyload" style="--smush-placeholder-width: 75px; --smush-placeholder-aspect-ratio: 75/20;"><noscript><img loading="lazy" data-src="http://arfa.markets/wp-content/uploads/2024/11/brandmark-design-140x30-1.png" alt="ARFA Markets" width="75" height="20" src="data:image/gif;base64,R0lGODlhAQABAAAAACH5BAEKAAEALAAAAAABAAEAAAICTAEAOw==" class="lazyload" style="--smush-placeholder-width: 75px; --smush-placeholder-aspect-ratio: 75/20;"><noscript><img loading="lazy" data-src="http://arfa.markets/wp-content/uploads/2024/11/brandmark-design-140x30-1.png" alt="ARFA Markets" width="75" height="20" src="data:image/gif;base64,R0lGODlhAQABAAAAACH5BAEKAAEALAAAAAABAAEAAAICTAEAOw==" class="lazyload" style="--smush-placeholder-width: 75px; --smush-placeholder-aspect-ratio: 75/20;"><noscript><img loading="lazy" data-src="http://arfa.markets/wp-content/uploads/2024/11/brandmark-design-140x30-1.png" alt="ARFA Markets" width="75" height="20" src="data:image/gif;base64,R0lGODlhAQABAAAAACH5BAEKAAEALAAAAAABAAEAAAICTAEAOw==" class="lazyload" style="--smush-placeholder-width: 75px; --smush-placeholder-aspect-ratio: 75/20;"><noscript><img loading="lazy" data-src="http://arfa.markets/wp-content/uploads/2024/11/brandmark-design-140x30-1.png" alt="ARFA Markets" width="75" height="20" src="data:image/gif;base64,R0lGODlhAQABAAAAACH5BAEKAAEALAAAAAABAAEAAAICTAEAOw==" class="lazyload" style="--smush-placeholder-width: 75px; --smush-placeholder-aspect-ratio: 75/20;"><noscript><img loading="lazy" src="http://arfa.markets/wp-content/uploads/2024/11/brandmark-design-140x30-1.png" alt="ARFA Markets" width="75" height="20" >

<img loading="lazy" data-src="http://arfa.markets/wp-content/uploads/2024/11/brandmark-design-140x30-1.png" alt="ARFA Markets" width="75" height="20" src="data:image/gif;base64,R0lGODlhAQABAAAAACH5BAEKAAEALAAAAAABAAEAAAICTAEAOw==" class="lazyload" style="--smush-placeholder-width: 75px; --smush-placeholder-aspect-ratio: 75/20;"><noscript><img loading="lazy" data-src="http://arfa.markets/wp-content/uploads/2024/11/brandmark-design-140x30-1.png" alt="ARFA Markets" width="75" height="20" src="data:image/gif;base64,R0lGODlhAQABAAAAACH5BAEKAAEALAAAAAABAAEAAAICTAEAOw==" class="lazyload" style="--smush-placeholder-width: 75px; --smush-placeholder-aspect-ratio: 75/20;"><noscript><img loading="lazy" data-src="http://arfa.markets/wp-content/uploads/2024/11/brandmark-design-140x30-1.png" alt="ARFA Markets" width="75" height="20" src="data:image/gif;base64,R0lGODlhAQABAAAAACH5BAEKAAEALAAAAAABAAEAAAICTAEAOw==" class="lazyload" style="--smush-placeholder-width: 75px; --smush-placeholder-aspect-ratio: 75/20;"><noscript><img loading="lazy" data-src="http://arfa.markets/wp-content/uploads/2024/11/brandmark-design-140x30-1.png" alt="ARFA Markets" width="75" height="20" src="data:image/gif;base64,R0lGODlhAQABAAAAACH5BAEKAAEALAAAAAABAAEAAAICTAEAOw==" class="lazyload" style="--smush-placeholder-width: 75px; --smush-placeholder-aspect-ratio: 75/20;"><noscript><img loading="lazy" data-src="http://arfa.markets/wp-content/uploads/2024/11/brandmark-design-140x30-1.png" alt="ARFA Markets" width="75" height="20" src="data:image/gif;base64,R0lGODlhAQABAAAAACH5BAEKAAEALAAAAAABAAEAAAICTAEAOw==" class="lazyload" style="--smush-placeholder-width: 75px; --smush-placeholder-aspect-ratio: 75/20;"><noscript><img loading="lazy" data-src="http://arfa.markets/wp-content/uploads/2024/11/brandmark-design-140x30-1.png" alt="ARFA Markets" width="75" height="20" src="data:image/gif;base64,R0lGODlhAQABAAAAACH5BAEKAAEALAAAAAABAAEAAAICTAEAOw==" class="lazyload" style="--smush-placeholder-width: 75px; --smush-placeholder-aspect-ratio: 75/20;"><noscript><img loading="lazy" data-src="http://arfa.markets/wp-content/uploads/2024/11/brandmark-design-140x30-1.png" alt="ARFA Markets" width="75" height="20" src="data:image/gif;base64,R0lGODlhAQABAAAAACH5BAEKAAEALAAAAAABAAEAAAICTAEAOw==" class="lazyload" style="--smush-placeholder-width: 75px; --smush-placeholder-aspect-ratio: 75/20;"><noscript><img loading="lazy" data-src="http://arfa.markets/wp-content/uploads/2024/11/brandmark-design-140x30-1.png" alt="ARFA Markets" width="75" height="20" src="data:image/gif;base64,R0lGODlhAQABAAAAACH5BAEKAAEALAAAAAABAAEAAAICTAEAOw==" class="lazyload" style="--smush-placeholder-width: 75px; --smush-placeholder-aspect-ratio: 75/20;"><noscript><img loading="lazy" src="http://arfa.markets/wp-content/uploads/2024/11/brandmark-design-140x30-1.png" alt="ARFA Markets" width="75" height="20" >

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<img loading="lazy" data-src="http://arfa.markets/wp-content/uploads/2024/11/brandmark-design-140x30-1.png" alt="ARFA Markets" width="75" height="20" src="data:image/gif;base64,R0lGODlhAQABAAAAACH5BAEKAAEALAAAAAABAAEAAAICTAEAOw==" class="lazyload" style="--smush-placeholder-width: 75px; --smush-placeholder-aspect-ratio: 75/20;"><noscript><img loading="lazy" data-src="http://arfa.markets/wp-content/uploads/2024/11/brandmark-design-140x30-1.png" alt="ARFA Markets" width="75" height="20" src="data:image/gif;base64,R0lGODlhAQABAAAAACH5BAEKAAEALAAAAAABAAEAAAICTAEAOw==" class="lazyload" style="--smush-placeholder-width: 75px; --smush-placeholder-aspect-ratio: 75/20;"><noscript><img loading="lazy" data-src="http://arfa.markets/wp-content/uploads/2024/11/brandmark-design-140x30-1.png" alt="ARFA Markets" width="75" height="20" src="data:image/gif;base64,R0lGODlhAQABAAAAACH5BAEKAAEALAAAAAABAAEAAAICTAEAOw==" class="lazyload" style="--smush-placeholder-width: 75px; --smush-placeholder-aspect-ratio: 75/20;"><noscript><img loading="lazy" data-src="http://arfa.markets/wp-content/uploads/2024/11/brandmark-design-140x30-1.png" alt="ARFA Markets" width="75" height="20" src="data:image/gif;base64,R0lGODlhAQABAAAAACH5BAEKAAEALAAAAAABAAEAAAICTAEAOw==" class="lazyload" style="--smush-placeholder-width: 75px; --smush-placeholder-aspect-ratio: 75/20;"><noscript><img loading="lazy" data-src="http://arfa.markets/wp-content/uploads/2024/11/brandmark-design-140x30-1.png" alt="ARFA Markets" width="75" height="20" src="data:image/gif;base64,R0lGODlhAQABAAAAACH5BAEKAAEALAAAAAABAAEAAAICTAEAOw==" class="lazyload" style="--smush-placeholder-width: 75px; --smush-placeholder-aspect-ratio: 75/20;"><noscript><img loading="lazy" data-src="http://arfa.markets/wp-content/uploads/2024/11/brandmark-design-140x30-1.png" alt="ARFA Markets" width="75" height="20" src="data:image/gif;base64,R0lGODlhAQABAAAAACH5BAEKAAEALAAAAAABAAEAAAICTAEAOw==" class="lazyload" style="--smush-placeholder-width: 75px; --smush-placeholder-aspect-ratio: 75/20;"><noscript><img loading="lazy" data-src="http://arfa.markets/wp-content/uploads/2024/11/brandmark-design-140x30-1.png" alt="ARFA Markets" width="75" height="20" src="data:image/gif;base64,R0lGODlhAQABAAAAACH5BAEKAAEALAAAAAABAAEAAAICTAEAOw==" class="lazyload" style="--smush-placeholder-width: 75px; --smush-placeholder-aspect-ratio: 75/20;"><noscript><img loading="lazy" data-src="http://arfa.markets/wp-content/uploads/2024/11/brandmark-design-140x30-1.png" alt="ARFA Markets" width="75" height="20" src="data:image/gif;base64,R0lGODlhAQABAAAAACH5BAEKAAEALAAAAAABAAEAAAICTAEAOw==" class="lazyload" style="--smush-placeholder-width: 75px; --smush-placeholder-aspect-ratio: 75/20;"><noscript><img loading="lazy" src="http://arfa.markets/wp-content/uploads/2024/11/brandmark-design-140x30-1.png" alt="ARFA Markets" width="75" height="20" >

<img loading="lazy" data-src="http://arfa.markets/wp-content/uploads/2024/11/brandmark-design-140x30-1.png" alt="ARFA Markets" width="75" height="20" src="data:image/gif;base64,R0lGODlhAQABAAAAACH5BAEKAAEALAAAAAABAAEAAAICTAEAOw==" class="lazyload" style="--smush-placeholder-width: 75px; --smush-placeholder-aspect-ratio: 75/20;"><noscript><img loading="lazy" data-src="http://arfa.markets/wp-content/uploads/2024/11/brandmark-design-140x30-1.png" alt="ARFA Markets" width="75" height="20" src="data:image/gif;base64,R0lGODlhAQABAAAAACH5BAEKAAEALAAAAAABAAEAAAICTAEAOw==" class="lazyload" style="--smush-placeholder-width: 75px; --smush-placeholder-aspect-ratio: 75/20;"><noscript><img loading="lazy" data-src="http://arfa.markets/wp-content/uploads/2024/11/brandmark-design-140x30-1.png" alt="ARFA Markets" width="75" height="20" src="data:image/gif;base64,R0lGODlhAQABAAAAACH5BAEKAAEALAAAAAABAAEAAAICTAEAOw==" class="lazyload" style="--smush-placeholder-width: 75px; --smush-placeholder-aspect-ratio: 75/20;"><noscript><img loading="lazy" data-src="http://arfa.markets/wp-content/uploads/2024/11/brandmark-design-140x30-1.png" alt="ARFA Markets" width="75" height="20" src="data:image/gif;base64,R0lGODlhAQABAAAAACH5BAEKAAEALAAAAAABAAEAAAICTAEAOw==" class="lazyload" style="--smush-placeholder-width: 75px; --smush-placeholder-aspect-ratio: 75/20;"><noscript><img loading="lazy" data-src="http://arfa.markets/wp-content/uploads/2024/11/brandmark-design-140x30-1.png" alt="ARFA Markets" width="75" height="20" src="data:image/gif;base64,R0lGODlhAQABAAAAACH5BAEKAAEALAAAAAABAAEAAAICTAEAOw==" class="lazyload" style="--smush-placeholder-width: 75px; --smush-placeholder-aspect-ratio: 75/20;"><noscript><img loading="lazy" data-src="http://arfa.markets/wp-content/uploads/2024/11/brandmark-design-140x30-1.png" alt="ARFA Markets" width="75" height="20" src="data:image/gif;base64,R0lGODlhAQABAAAAACH5BAEKAAEALAAAAAABAAEAAAICTAEAOw==" class="lazyload" style="--smush-placeholder-width: 75px; --smush-placeholder-aspect-ratio: 75/20;"><noscript><img loading="lazy" data-src="http://arfa.markets/wp-content/uploads/2024/11/brandmark-design-140x30-1.png" alt="ARFA Markets" width="75" height="20" src="data:image/gif;base64,R0lGODlhAQABAAAAACH5BAEKAAEALAAAAAABAAEAAAICTAEAOw==" class="lazyload" style="--smush-placeholder-width: 75px; --smush-placeholder-aspect-ratio: 75/20;"><noscript><img loading="lazy" data-src="http://arfa.markets/wp-content/uploads/2024/11/brandmark-design-140x30-1.png" alt="ARFA Markets" width="75" height="20" src="data:image/gif;base64,R0lGODlhAQABAAAAACH5BAEKAAEALAAAAAABAAEAAAICTAEAOw==" class="lazyload" style="--smush-placeholder-width: 75px; --smush-placeholder-aspect-ratio: 75/20;"><noscript><img loading="lazy" src="http://arfa.markets/wp-content/uploads/2024/11/brandmark-design-140x30-1.png" alt="ARFA Markets" width="75" height="20" >

Home Portfolio Evaluation

Portfolio Management

Fixed-Income Return Attribution: Understanding and Interpreting Results

21.11.2024

Portfolio Management

Factor-Based Return Attribution in Equity Portfolios: A Guide to the Carhart Model

byARFA Markets Team

21.11.2024

Portfolio Management

Understanding Arithmetic and Geometric Attribution in Portfolio Evaluation

byARFA Markets Team

21.11.2024