Sharpe ratio

Return per unit of risk: the average return divided by its standard deviation, annualised, without a risk-free rate. Here from 30 days of Hyperliquid portfolio history, a short history, so values are noisy and often far above those of funds measured over years.

• Per-interval returns of Hyperliquid’s portfolio history (PnL change ÷ account value at the interval start), mean ÷ sample standard deviation × √(intervals per year), without a risk-free rate.
• Needs at least 30 returns covering at least 21 days, and the same usability rules as the drawdown.

• Compare Sharpe ratios of wallets measured over the same window only.

• Comparing it with the Sharpe ratio of a fund. Funds are measured over years; 30 days of history give noisy and often much higher values.