March 2005
Intermediate to advanced
264 pages
6h 55m
English
Content preview from Technical Analysis: Power Tools for Active Investors
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Drawdown: The Measure of Ultimate Risk
Chart 1.3. Closed Drawdowns by Volatility
Drawdown represents the maximum loss taken from a peak in portfolio value to a subsequent low before a new peak in value is achieved. The highest-volatility group, Group 9, incurred losses of as much as 68% during the 1983–2003 period, whereas the lowest-volatility group, Group 1, had a maximum drawdown of just 15%.
Drawdown, the amount by which your portfolio declines from a peak reading to its lowest value before attaining a new peak, is one of the truer measures of the risks you are taking in your investment program.
For example, let us ...
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