Comparison of Risk vs. Return Metrics

What are Risk vs. Return Metrics?

Risk vs. Return Metrics are analytical tools used in finance to assess the relationship between the level of risk taken by an investment and the potential return generated from that investment.

M-squared vs. Sharpe ratio

	M-squared	Sharpe ratio
description	also known as the Modigliani risk-adjusted performance measure, is a method for evaluating the performance of a portfolio or investment strategy. It was developed by Franco Modigliani and Merton Miller, who were awarded the Nobel Prize in Economics for their work in this area.	widely used measure of risk-adjusted return that is used to evaluate the performance of an investment portfolio or financial instrument. It compares the return of an investment to its volatility, which is measured by the standard deviation of returns.
numerator	excess return (above the risk-free rate)	excess return (above the risk-free rate)
denominator		standard deviation of return
formula		https://www.investopedia.com/terms/s/sharperatio.asp#:~:text=The%20Sharpe%20ratio%20is%20calculated,of%20the%20portfolio's%20excess%20return.
SPY range