THREE THINGS WORTH REMEMBERING
The sort order is not neutral.
It is the question you are asking.
01
A 17% fall needs 21% to recover. A 39% fall needs 65%. The ladder out of a drawdown is always steeper than the fall in. Deeper pain costs more than the number suggests.
02
Calmar = CAGR divided by max drawdown. It answers: how much return did each unit of worst-case pain buy? A Calmar of 2.1 means 2.1 rupees of annual return for every rupee of the deepest fall.
03
The best strategy is the one you can hold. A 48% CAGR means nothing if you exit during the 26% drawdown. The strategy that fits your sleep threshold is the one that compounds.
"The factsheet ranks strategies by return. Your portfolio ranks them by the ones you did not quit."