Calmar Ratio Calculator

Annual return divided by the worst peak-to-trough loss. It asks the question investors actually feel: was the return worth the worst day of holding it?

Annualized return (CAGR)

Max drawdown

Results (live)

Calmar ratio0.67

ReadingWorst drawdown exceeded annual return

Estimates only, not financial advice. All math runs in your browser; nothing you type leaves this page.

How it works

Calmar = CAGR ÷ |max drawdown|

Worked example

30% CAGR with a 45% max drawdown scores 0.67: every unit of return cost 1.5 units of worst-case pain. Above 1 is where sleep improves.

FAQ

What is a good Calmar ratio?

Above 1 means annual return exceeded the worst drawdown, respectable anywhere. Long-run BTC sits well below 1 because 80% drawdowns happened.

Calmar vs Sharpe?

Sharpe measures everyday choppiness, Calmar the catastrophe. A strategy can ace one and flunk the other; check both.

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Estimates only, not financial, tax or investment advice. Verify numbers against your exchange or a professional before acting.