Sharpe Ratio Calculator
Paste the daily net P&L from your journal, one value per day you traded. The calculator returns the annualized and daily Sharpe ratio, the same ratio with a divisor of n as some spreadsheets calculate it, and the t-statistic that shows how much weight the days behind it can carry.
Takes daily results, not annual returns. The ratio describes past days; it does not predict the next session.
Calculate the Sharpe ratio
Use one unit for every day: currency, R multiples, or a percentage of the account. No risk-free rate is subtracted, which fits P&L in currency.
One value per line, or separated by spaces, semicolons, or a comma and a space. A pasted spreadsheet column works as it is.
Read the Sharpe ratio against the days behind it
A trading journal holds daily results, so this calculator starts from those and does the averaging, the standard deviation, and the annualization. The same days can still give different ratios depending on the divisor, the days counted, and the annualization, so the calculator shows those choices next to the result.
How the Sharpe ratio is calculated
The average day is the sum of the daily results divided by n, the number of days. The standard deviation is √(sum of squared differences from the average ÷ (n − 1)). Then:
Sharpe ratio = average day ÷ standard deviation × √(trading days per year)
William Sharpe's 1994 paper The Sharpe Ratio, read on 18 October 2026, gives the historic ratio as the average differential return divided by the standard deviation of those returns, with the spreadsheet formula AVERAGE ÷ STDEV, and states that the t-statistic equals that ratio times the square root of the number of returns.
Read Sharpe's paper, The Sharpe Ratio.Worked example: ten trading days
The calculator starts with ten hypothetical days of net P&L in USD, the same account the Sharpe ratio guide uses: +420, −310, +180, +260, −240, −90, +350, −380, +120, and −10.
- Average day: +300 ÷ 10 = +30 USD.
- Standard deviation: the squared differences from +30 add up to 710,600, and √(710,600 ÷ 9) = 280.99 USD.
- Sharpe ratio: 30 ÷ 280.99 = 0.1068 a day, and 0.1068 × √252 = 1.69 annualized. With a divisor of 10 it is 1.79, and at 156 trading days a year it is 1.33.
- t-statistic: 0.1068 × √10 = 0.34. Without day 1, the +420 USD day, the other nine days average −13.33 USD.
Why a spreadsheet can show a different figure
As of 18 October 2026, Excel's STDEV.S estimates a sample standard deviation with the n − 1 method, and STDEV.P treats the values as a whole population and divides by n. The calculator's main figure matches STDEV.S, and the divisor-n row matches STDEV.P. The gap shrinks as the number of days grows.
Excel's STDEV.S function.Excel's STDEV.P function.The risk-free rate
The calculator subtracts no risk-free rate. A risk-free rate is a percentage return, so it can only be subtracted from days measured as returns. With P&L in currency or R multiples, 0 is the consistent choice. If you enter daily returns as a percentage of the account, subtract the annual rate divided by your trading days per year from each day before you paste them.
What the calculator leaves out
An unusually good day widens the standard deviation as much as an unusually bad one, so the ratio penalizes both. The Sortino ratio divides by the losing days only. Neither ratio shows how deep the account fell between peaks, and annualizing assumes a year of days like the ones you entered. No threshold for a good ratio carries over to your own daily P&L: compare it with your earlier periods, calculated the same way.
In Tradeways, the Sharpe ratio widget calculates the same annualized figure at 252 trading days a year, with its default risk-free rate of 0, from the days with closed trades in the dashboard's scope, and shows the day count next to it. Use this calculator to check a figure from another tool or a period you have not imported.
Read the Sharpe ratio guide: tool differences, day counts, and Sharpe versus Sortino.Read the Sortino ratio guide.Baca pengungkapan risiko transaksi.Tradeways calculates the Sharpe ratio from your daily P&L in the dashboard's scope and shows how many days stand behind it.
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Kalkulator ini adalah alat perencanaan pendidikan. Mereka tidak memberikan saran investasi, sinyal perdagangan, atau rekomendasi untuk membeli atau menjual instrumen apapun.