Different denominators
A Sharpe-style ratio compares mean excess return with return variability. A Sortino-style ratio uses downside deviation relative to a specified target. A Calmar-style ratio compares an annualised return measure with a maximum drawdown measure over a defined window.
Inputs change the interpretation
Sampling frequency, the return series, the risk-free or target rate, annualisation and the observation window affect the result. A list of trade profits without capital and timing information is not automatically a valid periodic return series.
What the showcase demonstrates
These were report modules, not ratings of a visitor or a forecast. Small samples, non-normal outcomes, serial dependence and missing cash-flow adjustments can limit interpretation. No ratio identifies a suitable investment or guarantees protection against losses.
These notes explain the original design. They are not personalised analysis or investment, trading or financial advice. The creator receives no monetary benefit; the project has no employer or organisation affiliation.