{"id":6607,"date":"2026-02-22T14:06:34","date_gmt":"2026-02-22T10:36:34","guid":{"rendered":"https:\/\/academy.arbr.ir\/?p=6607"},"modified":"2026-02-22T14:06:34","modified_gmt":"2026-02-22T10:36:34","slug":"risk-adjusted-return","status":"publish","type":"post","link":"https:\/\/academy.arbr.ir\/risk-adjusted-return\/","title":{"rendered":"\u0628\u0627\u0632\u062f\u0647 \u062a\u0639\u062f\u06cc\u0644 \u0634\u062f\u0647 \u0628\u0627 \u0631\u06cc\u0633\u06a9 \u0686\u06cc\u0633\u062a\u061f"},"content":{"rendered":"<p dir=\"rtl\" lang=\"fa\">\u0627\u06af\u0631 \u0628\u062e\u0648\u0627\u0647\u06cc\u0645 \u062e\u06cc\u0644\u06cc \u0633\u0627\u062f\u0647 \u0634\u0631\u0648\u0639 \u06a9\u0646\u06cc\u0645\u060c \u0628\u0627\u0632\u062f\u0647 \u062a\u0639\u062f\u06cc\u0644 \u0634\u062f\u0647 \u0628\u0627 \u0631\u06cc\u0633\u06a9 \u06cc\u0639\u0646\u06cc \u0627\u06cc\u0646 \u0633\u0624\u0627\u0644 \u06a9\u0644\u06cc\u062f\u06cc:<\/p>\n<p dir=\"rtl\" lang=\"fa\">\u00ab\u0627\u06cc\u0646 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dir=\"rtl\" lang=\"fa\">\u0631\u06cc\u0633\u06a9 \u0648 \u0628\u0627\u0632\u062f\u0647 \u0633\u0631\u0645\u0627\u06cc\u0647 \u06af\u0630\u0627\u0631\u06cc\u00a0 \u0628\u062f\u0648\u0646 \u0627\u06cc\u0646\u06a9\u0647 \u06cc\u06a9\u06cc \u0631\u0627 \u0642\u0631\u0628\u0627\u0646\u06cc \u062f\u06cc\u06af\u0631\u06cc \u06a9\u0646\u06cc\u0645.<\/p>\n<h1 dir=\"rtl\" lang=\"fa\">\u0686\u0631\u0627 \u00ab\u0628\u0627\u0632\u062f\u0647 \u062e\u0627\u0645\u00bb \u0628\u0631\u0627\u06cc \u0645\u0642\u0627\u06cc\u0633\u0647 \u06a9\u0627\u0641\u06cc \u0646\u06cc\u0633\u062a\u061f<\/h1>\n<p dir=\"rtl\" lang=\"fa\">\u0628\u0627\u0632\u062f\u0647 \u062e\u0627\u0645 (\u0645\u062b\u0644\u0627\u064b \u06f4\u06f0\u066a \u062f\u0631 \u06cc\u06a9 \u0633\u0627\u0644) \u062c\u0630\u0627\u0628 \u0627\u0633\u062a\u060c \u0627\u0645\u0627 \u0628\u0647\u200c\u062a\u0646\u0647\u0627\u06cc\u06cc \u0645\u06cc\u200c\u062a\u0648\u0627\u0646\u062f \u06af\u0645\u0631\u0627\u0647\u200c\u06a9\u0646\u0646\u062f\u0647 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lang=\"fa\">\u0628\u0631\u0627\u06cc \u0631\u0648\u0634\u0646\u200c\u062a\u0631 \u0634\u062f\u0646 \u0645\u0648\u0636\u0648\u0639\u060c \u0645\u0642\u0627\u06cc\u0633\u0647 \u0632\u06cc\u0631 \u0631\u0627 \u0628\u0628\u06cc\u0646:<\/p>\n<div class=\"table-container\">\n<table>\n<thead>\n<tr>\n<th>\u0633\u0631\u0645\u0627\u06cc\u0647\u200c\u06af\u0630\u0627\u0631\u06cc<\/th>\n<th>\u0628\u0627\u0632\u062f\u0647 \u0633\u0627\u0644\u0627\u0646\u0647<\/th>\n<th>\u0646\u0648\u0633\u0627\u0646 (\u0631\u06cc\u0633\u06a9)<\/th>\n<th>\u0646\u062a\u06cc\u062c\u0647 \u0645\u0646\u0637\u0642\u06cc<\/th>\n<\/tr>\n<\/thead>\n<tbody>\n<tr>\n<td dir=\"rtl\" lang=\"fa\">\u06af\u0632\u06cc\u0646\u0647 A<\/td>\n<td dir=\"rtl\" lang=\"fa\">35\u066a<\/td>\n<td dir=\"rtl\" lang=\"fa\">\u0628\u0633\u06cc\u0627\u0631 \u0628\u0627\u0644\u0627<\/td>\n<td dir=\"rtl\" lang=\"fa\">\u0633\u0648\u062f \u0632\u06cc\u0627\u062f\u060c \u0631\u06cc\u0633\u06a9 \u0641\u0631\u0633\u0627\u06cc\u0646\u062f\u0647<\/td>\n<\/tr>\n<tr>\n<td dir=\"rtl\" lang=\"fa\">\u06af\u0632\u06cc\u0646\u0647 B<\/td>\n<td dir=\"rtl\" lang=\"fa\">28\u066a<\/td>\n<td dir=\"rtl\" lang=\"fa\">\u0645\u062a\u0648\u0633\u0637<\/td>\n<td dir=\"rtl\" lang=\"fa\">\u0633\u0648\u062f \u06a9\u0645\u062a\u0631\u060c \u0627\u0645\u0627 \u067e\u0627\u06cc\u062f\u0627\u0631\u062a\u0631<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<\/div>\n<p dir=\"rtl\" lang=\"fa\">\u062f\u0631 \u0627\u06cc\u0646 \u062d\u0627\u0644\u062a\u060c \u0628\u0627\u0632\u062f\u0647 \u062e\u0627\u0645 \u0645\u06cc\u200c\u06af\u0648\u06cc\u062f A \u0628\u0647\u062a\u0631 \u0627\u0633\u062a\u061b<\/p>\n<p dir=\"rtl\" lang=\"fa\">\u0627\u0645\u0627 \u0646\u06af\u0627\u0647 \u062a\u0639\u062f\u06cc\u0644\u200c\u0634\u062f\u0647 \u0628\u0627 \u0631\u06cc\u0633\u06a9 \u0645\u0645\u06a9\u0646 \u0627\u0633\u062a \u0646\u0634\u0627\u0646 \u062f\u0647\u062f B \u0627\u0646\u062a\u062e\u0627\u0628 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\u0628\u0627\u0632\u062f\u0647 \u0628\u062f\u0648\u0646 \u0631\u06cc\u0633\u06a9<\/h1>\n<p dir=\"rtl\" lang=\"fa\">\u0628\u0631\u0627\u06cc \u0627\u06cc\u0646\u06a9\u0647 \u0628\u0627\u0632\u062f\u0647 \u062a\u0639\u062f\u06cc\u0644\u200c\u0634\u062f\u0647 \u0628\u0627 \u0631\u06cc\u0633\u06a9 \u0645\u0639\u0646\u0627 \u067e\u06cc\u062f\u0627 \u06a9\u0646\u062f\u060c \u0628\u0627\u06cc\u062f \u0633\u0647 \u0642\u0637\u0639\u0647 \u0627\u0635\u0644\u06cc \u067e\u0627\u0632\u0644 \u0631\u0627 \u0628\u0634\u0646\u0627\u0633\u06cc\u0645. \u0627\u06cc\u0646 \u0627\u062c\u0632\u0627 \u062a\u0642\u0631\u06cc\u0628\u0627\u064b \u062f\u0631 \u062a\u0645\u0627\u0645 \u0645\u0639\u06cc\u0627\u0631\u0647\u0627\u06cc \u0627\u0633\u062a\u0627\u0646\u062f\u0627\u0631\u062f (\u0645\u062b\u0644 \u0634\u0627\u0631\u067e \u06cc\u0627 \u0633\u0648\u0631\u062a\u06cc\u0646\u0648) \u062d\u0636\u0648\u0631 \u062f\u0627\u0631\u0646\u062f\u060c \u0647\u0631\u0686\u0646\u062f \u0648\u0632\u0646 \u0648 \u062a\u0639\u0631\u06cc\u0641\u0634\u0627\u0646 \u0645\u062a\u0641\u0627\u0648\u062a \u0627\u0633\u062a.<\/p>\n<h3 dir=\"rtl\" lang=\"fa\">1) \u0628\u0627\u0632\u062f\u0647 (Return)<\/h3>\n<p dir=\"rtl\" lang=\"fa\">\u0628\u0627\u0632\u062f\u0647 \u0647\u0645\u0627\u0646 \u0633\u0648\u062f \u06cc\u0627 \u0632\u06cc\u0627\u0646 \u0633\u0631\u0645\u0627\u06cc\u0647\u200c\u06af\u0630\u0627\u0631\u06cc \u062f\u0631 \u06cc\u06a9 \u0628\u0627\u0632\u0647 \u0632\u0645\u0627\u0646\u06cc \u0645\u0634\u062e\u0635 \u0627\u0633\u062a\u061b \u0627\u0645\u0627 \u0646\u06a9\u062a\u0647 \u0645\u0647\u0645 \u0627\u06cc\u0646\u062c\u0627\u0633\u062a \u06a9\u0647 \u062f\u0631 \u0645\u062d\u0627\u0633\u0628\u0627\u062a \u062d\u0631\u0641\u0647\u200c\u0627\u06cc\u060c \u0628\u0627\u0632\u062f\u0647 \u0648\u0627\u0642\u0639\u06cc \u0648 \u0642\u0627\u0628\u0644 \u062a\u06a9\u0631\u0627\u0631 \u0627\u0647\u0645\u06cc\u062a \u062f\u0627\u0631\u062f\u060c \u0646\u0647 \u06cc\u06a9 \u0639\u062f\u062f \u0627\u062a\u0641\u0627\u0642\u06cc \u06cc\u0627 \u062d\u0627\u0635\u0644 \u0634\u0627\u0646\u0633 \u06a9\u0648\u062a\u0627\u0647\u200c\u0645\u062f\u062a.<\/p>\n<h3 dir=\"rtl\" lang=\"fa\">2) \u0631\u06cc\u0633\u06a9 (Risk)<\/h3>\n<p dir=\"rtl\" lang=\"fa\">\u0631\u06cc\u0633\u06a9 \u0645\u0639\u0645\u0648\u0644\u0627\u064b \u0628\u0627 \u0646\u0648\u0633\u0627\u0646 \u0628\u0627\u0632\u062f\u0647 \u0633\u0646\u062c\u06cc\u062f\u0647 \u0645\u06cc\u200c\u0634\u0648\u062f\u061b \u06cc\u0639\u0646\u06cc \u0627\u06cc\u0646\u06a9\u0647 \u0642\u06cc\u0645\u062a \u06cc\u0627 \u0627\u0631\u0632\u0634 \u0633\u0631\u0645\u0627\u06cc\u0647\u200c\u06af\u0630\u0627\u0631\u06cc \u0686\u0642\u062f\u0631 \u0628\u0627\u0644\u0627 \u0648 \u067e\u0627\u06cc\u06cc\u0646 \u0645\u06cc\u200c\u0631\u0648\u062f. \u0627\u06cc\u0646 \u0646\u0648\u0633\u0627\u0646\u060c \u0646\u0645\u0627\u06cc\u0646\u062f\u0647 \u0639\u062f\u0645\u200c\u0642\u0637\u0639\u06cc\u062a \u0648 \u0641\u0634\u0627\u0631 \u0631\u0648\u0627\u0646\u06cc \u0633\u0631\u0645\u0627\u06cc\u0647\u200c\u06af\u0630\u0627\u0631 \u0627\u0633\u062a \u0648 \u067e\u0627\u06cc\u0647 \u0628\u0633\u06cc\u0627\u0631\u06cc \u0627\u0632 \u0645\u062d\u0627\u0633\u0628\u0627\u062a \u062a\u0639\u062f\u06cc\u0644 \u0631\u06cc\u0633\u06a9 \u0645\u062d\u0633\u0648\u0628 \u0645\u06cc\u200c\u0634\u0648\u062f.<\/p>\n<h3 dir=\"rtl\" lang=\"fa\">3) \u0646\u0631\u062e \u0628\u0627\u0632\u062f\u0647 \u0628\u062f\u0648\u0646 \u0631\u06cc\u0633\u06a9<\/h3>\n<p dir=\"rtl\" lang=\"fa\">\u0627\u06cc\u0646\u062c\u0627 \u067e\u0627\u06cc \u06cc\u06a9 \u0645\u0639\u06cc\u0627\u0631 \u0645\u0631\u062c\u0639 \u0648\u0633\u0637 \u0645\u06cc\u200c\u0622\u06cc\u062f: \u0646\u0631\u062e \u0628\u0627\u0632\u062f\u0647 \u0628\u062f\u0648\u0646 \u0631\u06cc\u0633\u06a9.<\/p>\n<p dir=\"rtl\" lang=\"fa\">\u0627\u06cc\u0646 \u0646\u0631\u062e \u0646\u0634\u0627\u0646 \u0645\u06cc\u200c\u062f\u0647\u062f \u0627\u06af\u0631 \u0633\u0631\u0645\u0627\u06cc\u0647\u200c\u06af\u0630\u0627\u0631 \u0647\u06cc\u0686 \u0631\u06cc\u0633\u06a9\u06cc \u0646\u067e\u0630\u06cc\u0631\u062f (\u0645\u062b\u0644\u0627\u064b \u0633\u0631\u0645\u0627\u06cc\u0647\u200c\u06af\u0630\u0627\u0631\u06cc \u0628\u0633\u06cc\u0627\u0631 \u06a9\u0645\u200c\u0631\u06cc\u0633\u06a9)\u060c \u0686\u0647 \u0628\u0627\u0632\u062f\u0647\u06cc \u0645\u06cc\u200c\u062a\u0648\u0627\u0646\u062f \u0627\u0646\u062a\u0638\u0627\u0631 \u062f\u0627\u0634\u062a\u0647 \u0628\u0627\u0634\u062f. \u062f\u0631 \u0645\u062d\u0627\u0633\u0628\u0627\u062a \u0628\u0627\u0632\u062f\u0647 \u062a\u0639\u062f\u06cc\u0644\u200c\u0634\u062f\u0647\u060c \u0641\u0642\u0637 \u0628\u0627\u0632\u062f\u0647 \u0645\u0627\u0632\u0627\u062f \u0628\u0631 \u0627\u06cc\u0646 \u0646\u0631\u062e \u0627\u0633\u062a \u06a9\u0647 \u0648\u0627\u0642\u0639\u0627\u064b \u0628\u0647 \u0645\u0647\u0627\u0631\u062a \u06cc\u0627 \u06a9\u06cc\u0641\u06cc\u062a \u0633\u0631\u0645\u0627\u06cc\u0647\u200c\u06af\u0630\u0627\u0631\u06cc \u0646\u0633\u0628\u062a \u062f\u0627\u062f\u0647 \u0645\u06cc\u200c\u0634\u0648\u062f.<\/p>\n<p dir=\"rtl\" lang=\"fa\">\u0628\u0647\u200c\u0637\u0648\u0631 \u0645\u0641\u0647\u0648\u0645\u06cc\u060c \u062a\u0645\u0627\u0645 \u0645\u062f\u0644\u200c\u0647\u0627\u06cc \u062a\u0639\u062f\u06cc\u0644 \u0631\u06cc\u0633\u06a9 \u06cc\u06a9 \u0633\u0624\u0627\u0644 \u0645\u0634\u062a\u0631\u06a9 \u062f\u0627\u0631\u0646\u062f:<\/p>\n<p dir=\"rtl\" lang=\"fa\">\u00ab\u0628\u0639\u062f \u0627\u0632 \u06a9\u0633\u0631 \u062d\u062f\u0627\u0642\u0644 \u0628\u0627\u0632\u062f\u0647 \u0628\u062f\u0648\u0646 \u0631\u06cc\u0633\u06a9\u060c \u0627\u06cc\u0646 \u0633\u0631\u0645\u0627\u06cc\u0647\u200c\u06af\u0630\u0627\u0631\u06cc <em>\u0686\u0642\u062f\u0631 \u062e\u0648\u0628<\/em> \u0627\u0632 \u067e\u0633 \u0631\u06cc\u0633\u06a9 \u0628\u0631\u0622\u0645\u062f\u0647 \u0627\u0633\u062a\u061f\u00bb<\/p>\n<h1 dir=\"rtl\" lang=\"fa\">\u0631\u0627\u06cc\u062c\u200c\u062a\u0631\u06cc\u0646 \u0645\u0639\u06cc\u0627\u0631\u0647\u0627 \u062f\u0631 \u06cc\u06a9 \u0646\u06af\u0627\u0647<\/h1>\n<p dir=\"rtl\" lang=\"fa\"><em>(\u062c\u062f\u0648\u0644 \u0645\u0642\u0627\u06cc\u0633\u0647 \u06a9\u0627\u0631\u0628\u0631\u062f\u06cc)<\/em><\/p>\n<p dir=\"rtl\" lang=\"fa\">\u062a\u0627 \u0627\u06cc\u0646\u062c\u0627 \u062f\u06cc\u062f\u06cc\u0645 \u06a9\u0647 \u00ab\u0628\u0627\u0632\u062f\u0647 \u062e\u0627\u0645\u00bb \u062a\u0635\u0648\u06cc\u0631 \u06a9\u0627\u0645\u0644\u06cc \u0646\u0645\u06cc\u200c\u062f\u0647\u062f\u061b \u062d\u0627\u0644\u0627 \u0648\u0642\u062a \u0622\u0646 \u0627\u0633\u062a \u06a9\u0647 \u0627\u0628\u0632\u0627\u0631\u0647\u0627 \u0631\u0627 \u0628\u0634\u0646\u0627\u0633\u06cc\u0645. \u062f\u0631 \u0639\u0645\u0644\u060c \u062a\u062d\u0644\u06cc\u0644\u06af\u0631\u0627\u0646 \u0628\u0647\u200c\u062c\u0627\u06cc \u06cc\u06a9 \u0645\u0639\u06cc\u0627\u0631 \u0648\u0627\u062d\u062f\u060c \u0627\u0632 \u0686\u0646\u062f \u0645\u0639\u06cc\u0627\u0631 \u0645\u06a9\u0645\u0644 \u0627\u0633\u062a\u0641\u0627\u062f\u0647 \u0645\u06cc\u200c\u06a9\u0646\u0646\u062f \u062a\u0627 \u0628\u0641\u0647\u0645\u0646\u062f \u0628\u0627\u0632\u062f\u0647 \u0627\u06cc\u062c\u0627\u062f\u0634\u062f\u0647\u060c \u062f\u0631 \u0628\u0631\u0627\u0628\u0631 \u0686\u0647 \u0646\u0648\u0639 \u0631\u06cc\u0633\u06a9\u06cc \u0628\u0647\u200c\u062f\u0633\u062a \u0622\u0645\u062f\u0647 \u0627\u0633\u062a. \u062a\u0641\u0627\u0648\u062a \u0627\u06cc\u0646 \u0645\u0639\u06cc\u0627\u0631\u0647\u0627 \u0628\u06cc\u0634\u062a\u0631 \u062f\u0631 \u062a\u0639\u0631\u06cc\u0641 \u0631\u06cc\u0633\u06a9 \u0648 \u0646\u0648\u0639 \u0645\u0642\u0627\u06cc\u0633\u0647 \u0627\u0633\u062a\u060c \u0646\u0647 \u062f\u0631 \u0627\u0635\u0644 \u0645\u0627\u062c\u0631\u0627.<\/p>\n<p dir=\"rtl\" lang=\"fa\">\u062c\u062f\u0648\u0644 \u0632\u06cc\u0631\u060c \u06cc\u06a9 \u0646\u0642\u0634\u0647 \u0631\u0627\u0647 \u0633\u0631\u06cc\u0639 \u0645\u06cc\u200c\u062f\u0647\u062f \u062a\u0627 \u0628\u062f\u0627\u0646\u06cc \u0647\u0631 \u0645\u0639\u06cc\u0627\u0631 \u062f\u0642\u06cc\u0642\u0627\u064b \u0686\u0647 \u0686\u06cc\u0632\u06cc \u0631\u0627 \u0645\u06cc\u200c\u0633\u0646\u062c\u062f \u0648 \u0686\u0647 \u0632\u0645\u0627\u0646\u06cc \u0628\u0647 \u06a9\u0627\u0631\u062a \u0645\u06cc\u200c\u0622\u06cc\u062f:<\/p>\n<div class=\"table-container\">\n<table>\n<thead>\n<tr>\n<th>\u0645\u0639\u06cc\u0627\u0631<\/th>\n<th>\u0631\u06cc\u0633\u06a9\u0650 \u062f\u0631 \u0646\u0638\u0631 \u06af\u0631\u0641\u062a\u0647\u200c\u0634\u062f\u0647<\/th>\n<th>\u0645\u0646\u0627\u0633\u0628 \u0628\u0631\u0627\u06cc \u0686\u0647 \u0634\u0631\u0627\u06cc\u0637\u06cc\u061f<\/th>\n<th>\u0646\u06a9\u062a\u0647 \u062a\u0641\u0633\u06cc\u0631\u06cc<\/th>\n<\/tr>\n<\/thead>\n<tbody>\n<tr>\n<td dir=\"rtl\" lang=\"fa\">\u0646\u0633\u0628\u062a \u0634\u0627\u0631\u067e<\/td>\n<td dir=\"rtl\" lang=\"fa\">\u0646\u0648\u0633\u0627\u0646 \u06a9\u0644 (\u0627\u0646\u062d\u0631\u0627\u0641 \u0645\u0639\u06cc\u0627\u0631)<\/td>\n<td dir=\"rtl\" lang=\"fa\">\u0645\u0642\u0627\u06cc\u0633\u0647 \u06a9\u0644\u06cc \u0635\u0646\u062f\u0648\u0642\u200c\u0647\u0627 \u0648 \u067e\u0631\u062a\u0641\u0648\u06cc\u200c\u0647\u0627<\/td>\n<td dir=\"rtl\" lang=\"fa\">\u0639\u062f\u062f \u0628\u0627\u0644\u0627\u062a\u0631 = \u0628\u0627\u0632\u062f\u0647 \u0628\u0647\u062a\u0631 \u0628\u0647\u200c\u0627\u0632\u0627\u06cc \u0647\u0631 \u0648\u0627\u062d\u062f \u0631\u06cc\u0633\u06a9<\/td>\n<\/tr>\n<tr>\n<td dir=\"rtl\" lang=\"fa\">\u0646\u0633\u0628\u062a \u0633\u0648\u0631\u062a\u06cc\u0646\u0648<\/td>\n<td dir=\"rtl\" lang=\"fa\">\u0631\u06cc\u0633\u06a9 \u0646\u0632\u0648\u0644\u06cc<\/td>\n<td dir=\"rtl\" lang=\"fa\">\u0648\u0642\u062a\u06cc \u0627\u0641\u062a \u0642\u06cc\u0645\u062a \u0645\u0647\u0645\u200c\u062a\u0631 \u0627\u0632 \u0646\u0648\u0633\u0627\u0646 \u0645\u062b\u0628\u062a \u0627\u0633\u062a<\/td>\n<td dir=\"rtl\" lang=\"fa\">\u062a\u0645\u0631\u06a9\u0632 \u0641\u0642\u0637 \u0631\u0648\u06cc \u0631\u06cc\u0633\u06a9\u200c\u0647\u0627\u06cc \u00ab\u0628\u062f\u00bb<\/td>\n<\/tr>\n<tr>\n<td dir=\"rtl\" lang=\"fa\">\u0646\u0633\u0628\u062a \u062a\u0631\u06cc\u0646\u0631<\/td>\n<td dir=\"rtl\" lang=\"fa\">\u0631\u06cc\u0633\u06a9 \u0633\u06cc\u0633\u062a\u0645\u0627\u062a\u06cc\u06a9 (\u0628\u062a\u0627)<\/td>\n<td dir=\"rtl\" lang=\"fa\">\u067e\u0631\u062a\u0641\u0648\u06cc\u200c\u0647\u0627\u06cc \u0645\u062a\u0646\u0648\u0639\u200c\u0634\u062f\u0647<\/td>\n<td dir=\"rtl\" lang=\"fa\">\u0641\u0631\u0636 \u0645\u06cc\u200c\u06a9\u0646\u062f \u0631\u06cc\u0633\u06a9 \u063a\u06cc\u0631\u0633\u06cc\u0633\u062a\u0645\u0627\u062a\u06cc\u06a9 \u062d\u0630\u0641 \u0634\u062f\u0647<\/td>\n<\/tr>\n<tr>\n<td dir=\"rtl\" lang=\"fa\">\u0622\u0644\u0641\u0627\u06cc \u062c\u0646\u0633\u0646<\/td>\n<td dir=\"rtl\" lang=\"fa\">\u0627\u0636\u0627\u0641\u0647\u200c\u0628\u0627\u0632\u062f\u0647 \u0646\u0633\u0628\u062a \u0628\u0647 \u0628\u0627\u0632\u0627\u0631<\/td>\n<td dir=\"rtl\" lang=\"fa\">\u0633\u0646\u062c\u0634 \u0645\u0647\u0627\u0631\u062a \u0645\u062f\u06cc\u0631 \u0633\u0631\u0645\u0627\u06cc\u0647\u200c\u06af\u0630\u0627\u0631\u06cc<\/td>\n<td dir=\"rtl\" lang=\"fa\">\u0645\u062b\u0628\u062a \u0628\u0648\u062f\u0646 \u0622\u0644\u0641\u0627 \u06a9\u0644\u06cc\u062f\u06cc \u0627\u0633\u062a<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<\/div>\n<blockquote>\n<p dir=\"rtl\" lang=\"fa\">\u0646\u06a9\u062a\u0647 \u062d\u0631\u0641\u0647\u200c\u0627\u06cc: \u0647\u06cc\u0686\u200c\u06a9\u062f\u0627\u0645 \u00ab\u0628\u0647\u062a\u0631\u06cc\u0646 \u0645\u0637\u0644\u0642\u00bb \u0646\u06cc\u0633\u062a\u0646\u062f. \u0627\u0646\u062a\u062e\u0627\u0628 \u0645\u0639\u06cc\u0627\u0631\u060c \u0628\u0627\u06cc\u062f \u0628\u0627 \u0646\u0648\u0639 \u062f\u0627\u0631\u0627\u06cc\u06cc\u060c \u0627\u0641\u0642 \u0632\u0645\u0627\u0646\u06cc \u0648 \u062a\u06cc\u067e \u0631\u06cc\u0633\u06a9\u200c\u067e\u0630\u06cc\u0631\u06cc \u0647\u0645\u200c\u0631\u0627\u0633\u062a\u0627 \u0628\u0627\u0634\u062f.<\/p>\n<\/blockquote>\n<h1 dir=\"rtl\" lang=\"fa\">\u0646\u0633\u0628\u062a \u0634\u0627\u0631\u067e (Sharpe Ratio)<\/h1>\n<p dir=\"rtl\" lang=\"fa\"><em>(\u0641\u0631\u0645\u0648\u0644\u060c \u062a\u0641\u0633\u06cc\u0631\u060c \u0645\u062b\u0627\u0644)<\/em><\/p>\n<p dir=\"rtl\" lang=\"fa\">\u0646\u0633\u0628\u062a \u0634\u0627\u0631\u067e \u0631\u0627\u06cc\u062c\u200c\u062a\u0631\u06cc\u0646 \u0648 \u0634\u0646\u0627\u062e\u062a\u0647\u200c\u0634\u062f\u0647\u200c\u062a\u0631\u06cc\u0646 \u0645\u0639\u06cc\u0627\u0631 \u0628\u0627\u0632\u062f\u0647 \u062a\u0639\u062f\u06cc\u0644\u200c\u0634\u062f\u0647 \u0628\u0627 \u0631\u06cc\u0633\u06a9 \u0627\u0633\u062a\u060c \u0686\u0648\u0646 \u06cc\u06a9 \u0633\u0624\u0627\u0644 \u0633\u0627\u062f\u0647 \u0631\u0627 \u062e\u06cc\u0644\u06cc \u0634\u0641\u0627\u0641 \u062c\u0648\u0627\u0628 \u0645\u06cc\u200c\u062f\u0647\u062f:<\/p>\n<p dir=\"rtl\" lang=\"fa\">\u00ab\u0628\u0631\u0627\u06cc \u0647\u0631 \u0648\u0627\u062d\u062f \u0631\u06cc\u0633\u06a9\u06cc \u06a9\u0647 \u067e\u0630\u06cc\u0631\u0641\u062a\u0647\u200c\u0627\u0645\u060c \u0686\u0642\u062f\u0631 \u0628\u0627\u0632\u062f\u0647 \u0627\u0636\u0627\u0641\u0647 \u06af\u0631\u0641\u062a\u0647\u200c\u0627\u0645\u061f\u00bb<\/p>\n<p dir=\"rtl\" lang=\"fa\">\u062f\u0631 \u0627\u06cc\u0646 \u0645\u0639\u06cc\u0627\u0631\u060c \u0628\u0627\u0632\u062f\u0647 \u0633\u0631\u0645\u0627\u06cc\u0647\u200c\u06af\u0630\u0627\u0631\u06cc \u0628\u0639\u062f \u0627\u0632 \u06a9\u0633\u0631 \u0646\u0631\u062e \u0628\u062f\u0648\u0646 \u0631\u06cc\u0633\u06a9\u060c \u0628\u0631 \u0645\u06cc\u0632\u0627\u0646 \u0646\u0648\u0633\u0627\u0646 \u062a\u0642\u0633\u06cc\u0645 \u0645\u06cc\u200c\u0634\u0648\u062f. \u0645\u0646\u0638\u0648\u0631 \u0627\u0632 \u0646\u0648\u0633\u0627\u0646\u060c \u0647\u0645\u0627\u0646 \u0627\u0646\u062d\u0631\u0627\u0641 \u0645\u0639\u06cc\u0627\u0631 \u0628\u0627\u0632\u062f\u0647 \u0627\u0633\u062a\u061b \u06cc\u0639\u0646\u06cc \u062f\u0627\u0645\u0646\u0647 \u0628\u0627\u0644\u0627 \u0648 \u067e\u0627\u06cc\u06cc\u0646 \u0631\u0641\u062a\u0646 \u0628\u0627\u0632\u062f\u0647\u200c\u0647\u0627 \u062f\u0631 \u0637\u0648\u0644 \u0632\u0645\u0627\u0646.<\/p>\n<figure id=\"attachment_6608\" aria-describedby=\"caption-attachment-6608\" style=\"width: 795px\" class=\"wp-caption aligncenter\"><img fetchpriority=\"high\" decoding=\"async\" class=\"size-full wp-image-6608\" src=\"https:\/\/academy.arbr.ir\/wp-content\/uploads\/2026\/02\/\u0646\u0633\u0628\u062a-\u0634\u0627\u0631\u067e-Sharpe-Ratio.jpg\" alt=\"\u0646\u0633\u0628\u062a \u0634\u0627\u0631\u067e (Sharpe Ratio)\" width=\"795\" height=\"596\" srcset=\"https:\/\/academy.arbr.ir\/wp-content\/uploads\/2026\/02\/\u0646\u0633\u0628\u062a-\u0634\u0627\u0631\u067e-Sharpe-Ratio.jpg 795w, https:\/\/academy.arbr.ir\/wp-content\/uploads\/2026\/02\/\u0646\u0633\u0628\u062a-\u0634\u0627\u0631\u067e-Sharpe-Ratio-300x225.jpg 300w, https:\/\/academy.arbr.ir\/wp-content\/uploads\/2026\/02\/\u0646\u0633\u0628\u062a-\u0634\u0627\u0631\u067e-Sharpe-Ratio-768x576.jpg 768w, https:\/\/academy.arbr.ir\/wp-content\/uploads\/2026\/02\/\u0646\u0633\u0628\u062a-\u0634\u0627\u0631\u067e-Sharpe-Ratio-600x450.jpg 600w\" sizes=\"(max-width: 795px) 100vw, 795px\" \/><figcaption id=\"caption-attachment-6608\" class=\"wp-caption-text\">\u0646\u0633\u0628\u062a \u0634\u0627\u0631\u067e (Sharpe Ratio)<\/figcaption><\/figure>\n<p dir=\"rtl\" lang=\"fa\">\u0641\u0631\u0645\u0648\u0644 \u0634\u0627\u0631\u067e \u0628\u0647 \u0632\u0628\u0627\u0646 \u0633\u0627\u062f\u0647:<\/p>\n<p lang=\"en\"><span class=\"katex-display\"><span class=\"katex\"><span class=\"katex-mathml\">Sharpe=Rp\u2212Rf\u03c3p \\text{Sharpe} = \\frac{R_p &#8211; R_f}{\\sigma_p} <\/span><span class=\"katex-html\" aria-hidden=\"true\"><span class=\"base\"><span class=\"mord text\"><span class=\"mord\">Sharpe<\/span><\/span><span class=\"mrel\">=<\/span><\/span><span class=\"base\"><span class=\"mord\"><span class=\"mfrac\"><span class=\"vlist-t vlist-t2\"><span class=\"vlist-r\"><span class=\"vlist\"><span class=\"mord mathnormal\">\u03c3<\/span><span class=\"msupsub\"><span class=\"sizing reset-size6 size3 mtight\"><span class=\"mord mathnormal mtight\">p<\/span><\/span><span class=\"vlist-s\">\u200b<\/span><\/span><span class=\"mord mathnormal\">R<\/span><span class=\"msupsub\"><span class=\"sizing reset-size6 size3 mtight\"><span class=\"mord mathnormal mtight\">p<\/span><\/span><span class=\"vlist-s\">\u200b<\/span><\/span><span class=\"mbin\">\u2212<\/span><span class=\"mord mathnormal\">R<\/span><span class=\"msupsub\"><span class=\"sizing reset-size6 size3 mtight\"><span class=\"mord mathnormal mtight\">f<\/span><\/span><span class=\"vlist-s\">\u200b<\/span><\/span><\/span><span class=\"vlist-s\">\u200b<\/span><\/span><\/span><\/span><\/span><\/span><\/span><\/span><\/span><\/p>\n<ul dir=\"rtl\" lang=\"fa\">\n<li><span class=\"katex\"><span class=\"katex-mathml\">RpR_p<\/span><span class=\"katex-html\" aria-hidden=\"true\"><span class=\"base\"><span class=\"mord\"><span class=\"mord mathnormal\">R<\/span><span class=\"msupsub\"><span class=\"vlist-t vlist-t2\"><span class=\"vlist-r\"><span class=\"vlist\"><span class=\"sizing reset-size6 size3 mtight\"><span class=\"mord mathnormal mtight\">p<\/span><\/span><\/span><span class=\"vlist-s\">\u200b<\/span><\/span><\/span><\/span><\/span><\/span><\/span><\/span>: \u0628\u0627\u0632\u062f\u0647 \u0633\u0631\u0645\u0627\u06cc\u0647\u200c\u06af\u0630\u0627\u0631\u06cc<\/li>\n<li><span class=\"katex\"><span class=\"katex-mathml\">RfR_f<\/span><span class=\"katex-html\" aria-hidden=\"true\"><span class=\"base\"><span class=\"mord\"><span class=\"mord mathnormal\">R<\/span><span class=\"msupsub\"><span class=\"vlist-t vlist-t2\"><span class=\"vlist-r\"><span class=\"vlist\"><span class=\"sizing reset-size6 size3 mtight\"><span class=\"mord mathnormal mtight\">f<\/span><\/span><\/span><span class=\"vlist-s\">\u200b<\/span><\/span><\/span><\/span><\/span><\/span><\/span><\/span>: \u0646\u0631\u062e \u0628\u0627\u0632\u062f\u0647 \u0628\u062f\u0648\u0646 \u0631\u06cc\u0633\u06a9<\/li>\n<li><span class=\"katex\"><span class=\"katex-mathml\">\u03c3p\\sigma_p<\/span><span class=\"katex-html\" aria-hidden=\"true\"><span class=\"base\"><span class=\"mord\"><span class=\"mord mathnormal\">\u03c3<\/span><span class=\"msupsub\"><span class=\"vlist-t vlist-t2\"><span class=\"vlist-r\"><span class=\"vlist\"><span class=\"sizing reset-size6 size3 mtight\"><span class=\"mord mathnormal mtight\">p<\/span><\/span><\/span><span class=\"vlist-s\">\u200b<\/span><\/span><\/span><\/span><\/span><\/span><\/span><\/span>: \u0627\u0646\u062d\u0631\u0627\u0641 \u0645\u0639\u06cc\u0627\u0631 \u0628\u0627\u0632\u062f\u0647<\/li>\n<\/ul>\n<h3 dir=\"rtl\" lang=\"fa\">\u062a\u0641\u0633\u06cc\u0631 \u0639\u062f\u062f\u06cc (\u0628\u0627 \u0645\u062b\u0627\u0644 \u0645\u0644\u0645\u0648\u0633)<\/h3>\n<p dir=\"rtl\" lang=\"fa\">\u0641\u0631\u0636 \u06a9\u0646 \u062f\u0648 \u0635\u0646\u062f\u0648\u0642 \u062f\u0627\u0631\u06cc\u0645:<\/p>\n<div class=\"table-container\">\n<table>\n<thead>\n<tr>\n<th>\u0635\u0646\u062f\u0648\u0642<\/th>\n<th>\u0628\u0627\u0632\u062f\u0647 \u0633\u0627\u0644\u0627\u0646\u0647<\/th>\n<th>\u0627\u0646\u062d\u0631\u0627\u0641 \u0645\u0639\u06cc\u0627\u0631<\/th>\n<th>\u0646\u0633\u0628\u062a \u0634\u0627\u0631\u067e<\/th>\n<\/tr>\n<\/thead>\n<tbody>\n<tr>\n<td lang=\"en\">A<\/td>\n<td dir=\"rtl\" lang=\"fa\">30\u066a<\/td>\n<td dir=\"rtl\" lang=\"fa\">20\u066a<\/td>\n<td lang=\"en\">1.0<\/td>\n<\/tr>\n<tr>\n<td lang=\"en\">B<\/td>\n<td dir=\"rtl\" lang=\"fa\">24\u066a<\/td>\n<td dir=\"rtl\" lang=\"fa\">10\u066a<\/td>\n<td lang=\"en\">1.4<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<\/div>\n<p dir=\"rtl\" lang=\"fa\">\u062f\u0631 \u0646\u06af\u0627\u0647 \u0627\u0648\u0644\u060c \u0635\u0646\u062f\u0648\u0642 A \u0633\u0648\u062f \u0628\u06cc\u0634\u062a\u0631\u06cc \u062f\u0627\u062f\u0647\u061b \u0627\u0645\u0627 \u0646\u0633\u0628\u062a \u0634\u0627\u0631\u067e \u0645\u06cc\u200c\u06af\u0648\u06cc\u062f B \u06a9\u0627\u0631\u0622\u0645\u062f\u062a\u0631 \u0628\u0648\u062f\u0647\u060c \u0686\u0648\u0646 \u0628\u0627 \u0631\u06cc\u0633\u06a9 \u06a9\u0645\u062a\u0631\u060c \u0628\u0627\u0632\u062f\u0647 \u0628\u0647\u062a\u0631\u06cc \u0628\u0647\u200c\u0627\u0632\u0627\u06cc \u0647\u0631 \u0648\u0627\u062d\u062f \u0646\u0648\u0633\u0627\u0646 \u0633\u0627\u062e\u062a\u0647 \u0627\u0633\u062a. \u0627\u06cc\u0646 \u062f\u0642\u06cc\u0642\u0627\u064b \u0647\u0645\u0627\u0646 \u062c\u0627\u06cc\u06cc \u0627\u0633\u062a \u06a9\u0647 \u0634\u0627\u0631\u067e\u060c \u062a\u0635\u0645\u06cc\u0645\u200c\u06af\u06cc\u0631\u06cc \u0631\u0627 \u0627\u0632 \u00ab\u0647\u06cc\u062c\u0627\u0646 \u0633\u0648\u062f\u00bb \u062c\u062f\u0627 \u0645\u06cc\u200c\u06a9\u0646\u062f.<\/p>\n<h1 dir=\"rtl\" lang=\"fa\">\u0646\u0633\u0628\u062a \u0633\u0648\u0631\u062a\u06cc\u0646\u0648 (Sortino Ratio)<\/h1>\n<p dir=\"rtl\" lang=\"fa\"><em>(\u0686\u0631\u0627 \u0628\u0631\u0627\u06cc \u0631\u06cc\u0633\u06a9 \u0646\u0632\u0648\u0644\u06cc \u0628\u0647\u062a\u0631 \u0627\u0633\u062a\u061f)<\/em><\/p>\n<p dir=\"rtl\" lang=\"fa\">\u0627\u06cc\u0631\u0627\u062f \u0627\u0635\u0644\u06cc \u0634\u0627\u0631\u067e \u0627\u06cc\u0646 \u0627\u0633\u062a \u06a9\u0647 \u0647\u0645\u0647 \u0646\u0648\u0633\u0627\u0646\u200c\u0647\u0627 \u0631\u0627 \u0628\u062f \u0645\u06cc\u200c\u062f\u0627\u0646\u062f\u061b \u062d\u062a\u06cc \u0646\u0648\u0633\u0627\u0646\u200c\u0647\u0627\u06cc \u0645\u062b\u0628\u062a. \u0627\u0645\u0627 \u0627\u0632 \u0646\u06af\u0627\u0647 \u06cc\u06a9 \u0633\u0631\u0645\u0627\u06cc\u0647\u200c\u06af\u0630\u0627\u0631 \u0648\u0627\u0642\u0639\u06cc\u060c \u0631\u0634\u062f \u0633\u0631\u06cc\u0639 \u0645\u0639\u0645\u0648\u0644\u0627\u064b \u0622\u0632\u0627\u0631\u062f\u0647\u0646\u062f\u0647 \u0646\u06cc\u0633\u062a\u2014\u0627\u0641\u062a\u200c\u0647\u0627\u06cc \u0646\u0627\u06af\u0647\u0627\u0646\u06cc\u200c\u0627\u0646\u062f \u06a9\u0647 \u062e\u0648\u0627\u0628 \u0631\u0627 \u0645\u06cc\u200c\u06af\u06cc\u0631\u0646\u062f.<\/p>\n<p dir=\"rtl\" lang=\"fa\">\u0646\u0633\u0628\u062a \u0633\u0648\u0631\u062a\u06cc\u0646\u0648 \u062f\u0642\u06cc\u0642\u0627\u064b \u0628\u0631\u0627\u06cc \u062d\u0644 \u0647\u0645\u06cc\u0646 \u0645\u0633\u0626\u0644\u0647 \u0637\u0631\u0627\u062d\u06cc \u0634\u062f\u0647. \u0627\u06cc\u0646 \u0645\u0639\u06cc\u0627\u0631 \u0628\u0647\u200c\u062c\u0627\u06cc \u0646\u0648\u0633\u0627\u0646 \u06a9\u0644\u060c \u0641\u0642\u0637 \u0631\u0648\u06cc \u0631\u06cc\u0633\u06a9 \u0646\u0632\u0648\u0644\u06cc \u062a\u0645\u0631\u06a9\u0632 \u0645\u06cc\u200c\u06a9\u0646\u062f\u061b \u06cc\u0639\u0646\u06cc \u0627\u0646\u062d\u0631\u0627\u0641\u200c\u0647\u0627\u06cc\u06cc \u06a9\u0647 \u0628\u0627\u0632\u062f\u0647 \u0631\u0627 \u0628\u0647 \u0632\u06cc\u0631 \u06cc\u06a9 \u062d\u062f\u0627\u0642\u0644 \u0642\u0627\u0628\u0644\u200c\u0642\u0628\u0648\u0644 \u0645\u06cc\u200c\u0628\u0631\u0646\u062f.<\/p>\n<p dir=\"rtl\" lang=\"fa\">\u0627\u0632 \u0646\u0638\u0631 \u0645\u0641\u0647\u0648\u0645\u06cc\u060c \u0633\u0648\u0631\u062a\u06cc\u0646\u0648 \u0645\u06cc\u200c\u067e\u0631\u0633\u062f:<\/p>\n<p dir=\"rtl\" lang=\"fa\">\u00ab\u0648\u0642\u062a\u06cc \u0627\u0648\u0636\u0627\u0639 \u0628\u062f \u0645\u06cc\u200c\u0634\u0648\u062f\u060c \u0627\u06cc\u0646 \u0633\u0631\u0645\u0627\u06cc\u0647\u200c\u06af\u0630\u0627\u0631\u06cc \u0686\u0642\u062f\u0631 \u0628\u062f \u0639\u0645\u0644 \u0645\u06cc\u200c\u06a9\u0646\u062f\u061f\u00bb<\/p>\n<figure id=\"attachment_6609\" aria-describedby=\"caption-attachment-6609\" style=\"width: 795px\" class=\"wp-caption aligncenter\"><img decoding=\"async\" class=\"size-full wp-image-6609\" src=\"https:\/\/academy.arbr.ir\/wp-content\/uploads\/2026\/02\/\u0646\u0633\u0628\u062a-\u0633\u0648\u0631\u062a\u06cc\u0646\u0648-Sortino-Ratio.jpg\" alt=\"\u0646\u0633\u0628\u062a \u0633\u0648\u0631\u062a\u06cc\u0646\u0648 (Sortino Ratio)\" width=\"795\" height=\"596\" srcset=\"https:\/\/academy.arbr.ir\/wp-content\/uploads\/2026\/02\/\u0646\u0633\u0628\u062a-\u0633\u0648\u0631\u062a\u06cc\u0646\u0648-Sortino-Ratio.jpg 795w, https:\/\/academy.arbr.ir\/wp-content\/uploads\/2026\/02\/\u0646\u0633\u0628\u062a-\u0633\u0648\u0631\u062a\u06cc\u0646\u0648-Sortino-Ratio-300x225.jpg 300w, https:\/\/academy.arbr.ir\/wp-content\/uploads\/2026\/02\/\u0646\u0633\u0628\u062a-\u0633\u0648\u0631\u062a\u06cc\u0646\u0648-Sortino-Ratio-768x576.jpg 768w, https:\/\/academy.arbr.ir\/wp-content\/uploads\/2026\/02\/\u0646\u0633\u0628\u062a-\u0633\u0648\u0631\u062a\u06cc\u0646\u0648-Sortino-Ratio-600x450.jpg 600w\" sizes=\"(max-width: 795px) 100vw, 795px\" \/><figcaption id=\"caption-attachment-6609\" class=\"wp-caption-text\">\u0646\u0633\u0628\u062a \u0633\u0648\u0631\u062a\u06cc\u0646\u0648 (Sortino Ratio)<\/figcaption><\/figure>\n<h3 dir=\"rtl\" lang=\"fa\">\u0686\u0647 \u0632\u0645\u0627\u0646\u06cc \u0633\u0648\u0631\u062a\u06cc\u0646\u0648 \u0627\u0646\u062a\u062e\u0627\u0628 \u0647\u0648\u0634\u0645\u0646\u062f\u0627\u0646\u0647\u200c\u062a\u0631\u06cc \u0627\u0633\u062a\u061f<\/h3>\n<ul dir=\"rtl\" lang=\"fa\">\n<li>\u0648\u0642\u062a\u06cc \u0627\u0633\u062a\u0631\u0627\u062a\u0698\u06cc \u062a\u0648 \u062d\u0641\u0638 \u0633\u0631\u0645\u0627\u06cc\u0647 \u0627\u0648\u0644\u0648\u06cc\u062a \u0627\u0648\u0644 \u0627\u0633\u062a<\/li>\n<li>\u0648\u0642\u062a\u06cc \u062f\u0627\u0631\u0627\u06cc\u06cc \u0645\u0648\u0631\u062f\u0646\u0638\u0631 \u062c\u0647\u0634\u200c\u0647\u0627\u06cc \u0645\u062b\u0628\u062a \u0646\u0627\u0645\u062a\u0642\u0627\u0631\u0646 \u062f\u0627\u0631\u062f<\/li>\n<li>\u0648\u0642\u062a\u06cc \u0633\u0631\u0645\u0627\u06cc\u0647\u200c\u06af\u0630\u0627\u0631 \u0646\u0633\u0628\u062a \u0628\u0647 \u0627\u0641\u062a\u200c\u0647\u0627 \u062d\u0633\u0627\u0633\u200c\u062a\u0631 \u0627\u0632 \u0646\u0648\u0633\u0627\u0646\u200c\u0647\u0627\u06cc \u0639\u0627\u062f\u06cc \u0627\u0633\u062a<\/li>\n<\/ul>\n<p dir=\"rtl\" lang=\"fa\">\u062f\u0631 \u0686\u0646\u06cc\u0646 \u0634\u0631\u0627\u06cc\u0637\u06cc\u060c \u0645\u0645\u06a9\u0646 \u0627\u0633\u062a \u062f\u0648 \u062f\u0627\u0631\u0627\u06cc\u06cc \u0634\u0627\u0631\u067e \u0645\u0634\u0627\u0628\u0647\u06cc \u062f\u0627\u0634\u062a\u0647 \u0628\u0627\u0634\u0646\u062f\u060c \u0627\u0645\u0627 \u0633\u0648\u0631\u062a\u06cc\u0646\u0648 \u0646\u0634\u0627\u0646 \u062f\u0647\u062f \u06a9\u062f\u0627\u0645\u200c\u06cc\u06a9 \u062f\u0631 \u0632\u0645\u0627\u0646\u200c\u0647\u0627\u06cc \u0628\u062f\u060c \u06a9\u0646\u062a\u0631\u0644\u200c\u0634\u062f\u0647\u200c\u062a\u0631 \u0631\u0641\u062a\u0627\u0631 \u06a9\u0631\u062f\u0647 \u0627\u0633\u062a.<\/p>\n<h1 dir=\"rtl\" lang=\"fa\">\u0646\u0633\u0628\u062a \u062a\u0631\u06cc\u0646\u0631 (Treynor Ratio) \u0648 \u0628\u062a\u0627<\/h1>\n<p dir=\"rtl\" lang=\"fa\"><em>(\u0648\u0642\u062a\u06cc \u0631\u06cc\u0633\u06a9 \u0633\u06cc\u0633\u062a\u0645\u0627\u062a\u06cc\u06a9 \u0645\u0647\u0645 \u0627\u0633\u062a)<\/em><\/p>\n<p dir=\"rtl\" lang=\"fa\">\u0646\u0633\u0628\u062a \u062a\u0631\u06cc\u0646\u0631 \u0634\u0628\u06cc\u0647 \u0634\u0627\u0631\u067e \u0627\u0633\u062a\u060c \u0627\u0645\u0627 \u0628\u0627 \u06cc\u06a9 \u062a\u0641\u0627\u0648\u062a \u06a9\u0644\u06cc\u062f\u06cc: \u0627\u06cc\u0646\u200c\u062c\u0627 \u0641\u0631\u0636 \u0645\u06cc\u200c\u06a9\u0646\u06cc\u0645 \u0633\u0631\u0645\u0627\u06cc\u0647\u200c\u06af\u0630\u0627\u0631 \u067e\u0631\u062a\u0641\u0648\u06cc \u0645\u062a\u0646\u0648\u0639 \u062f\u0627\u0631\u062f \u0648 \u0631\u06cc\u0633\u06a9 \u063a\u06cc\u0631\u0633\u06cc\u0633\u062a\u0645\u0627\u062a\u06cc\u06a9 \u062d\u0630\u0641 \u0634\u062f\u0647 \u0627\u0633\u062a. \u0628\u0646\u0627\u0628\u0631\u0627\u06cc\u0646\u060c \u062a\u0646\u0647\u0627 \u0631\u06cc\u0633\u06a9\u06cc \u06a9\u0647 \u0627\u0647\u0645\u06cc\u062a \u062f\u0627\u0631\u062f\u060c \u0631\u06cc\u0633\u06a9 \u0633\u06cc\u0633\u062a\u0645\u0627\u062a\u06cc\u06a9 \u06cc\u0627 \u0647\u0645\u0627\u0646 <a href=\"\/risk\/beta\" target=\"_blank\" rel=\"noopener noreferrer\">\u0628\u062a\u0627<\/a> \u0627\u0633\u062a\u061b \u0631\u06cc\u0633\u06a9\u06cc \u06a9\u0647 \u0627\u0632 \u06a9\u0644 \u0628\u0627\u0632\u0627\u0631 \u0645\u06cc\u200c\u0622\u06cc\u062f \u0648 \u0642\u0627\u0628\u0644 \u062d\u0630\u0641 \u0646\u06cc\u0633\u062a.<\/p>\n<p dir=\"rtl\" lang=\"fa\">\u062f\u0631 \u0646\u0633\u0628\u062a \u062a\u0631\u06cc\u0646\u0631\u060c \u0628\u0627\u0632\u062f\u0647 \u0645\u0627\u0632\u0627\u062f \u0628\u0631 \u0646\u0631\u062e \u0628\u062f\u0648\u0646 \u0631\u06cc\u0633\u06a9\u060c \u0628\u0631 \u0628\u062a\u0627 \u062a\u0642\u0633\u06cc\u0645 \u0645\u06cc\u200c\u0634\u0648\u062f. \u0646\u062a\u06cc\u062c\u0647 \u0627\u06cc\u0646 \u0645\u062d\u0627\u0633\u0628\u0647 \u0628\u0647 \u0645\u0627 \u0645\u06cc\u200c\u06af\u0648\u06cc\u062f \u0633\u0631\u0645\u0627\u06cc\u0647\u200c\u06af\u0630\u0627\u0631\u06cc \u0645\u0648\u0631\u062f\u0646\u0638\u0631 \u0628\u0647\u200c\u0627\u0632\u0627\u06cc \u0647\u0631 \u0648\u0627\u062d\u062f \u0631\u06cc\u0633\u06a9 \u0628\u0627\u0632\u0627\u0631\u060c \u0686\u0642\u062f\u0631 \u0628\u0627\u0632\u062f\u0647 \u0633\u0627\u062e\u062a\u0647 \u0627\u0633\u062a\u2014\u0646\u0647 \u0628\u0647\u200c\u0627\u0632\u0627\u06cc \u0646\u0648\u0633\u0627\u0646\u200c\u0647\u0627\u06cc \u062a\u0635\u0627\u062f\u0641\u06cc.<\/p>\n<p lang=\"en\"><span class=\"katex-display\"><span class=\"katex\"><span class=\"katex-mathml\">Treynor=Rp\u2212Rf\u03b2p \\text{Treynor} = \\frac{R_p &#8211; R_f}{\\beta_p} <\/span><span class=\"katex-html\" aria-hidden=\"true\"><span class=\"base\"><span class=\"mord text\"><span class=\"mord\">Treynor<\/span><\/span><span class=\"mrel\">=<\/span><\/span><span class=\"base\"><span class=\"mord\"><span class=\"mfrac\"><span class=\"vlist-t vlist-t2\"><span class=\"vlist-r\"><span class=\"vlist\"><span class=\"mord mathnormal\">\u03b2<\/span><span class=\"msupsub\"><span class=\"sizing reset-size6 size3 mtight\"><span class=\"mord mathnormal mtight\">p<\/span><\/span><span class=\"vlist-s\">\u200b<\/span><\/span><span class=\"mord mathnormal\">R<\/span><span class=\"msupsub\"><span class=\"sizing reset-size6 size3 mtight\"><span class=\"mord mathnormal mtight\">p<\/span><\/span><span class=\"vlist-s\">\u200b<\/span><\/span><span class=\"mbin\">\u2212<\/span><span class=\"mord mathnormal\">R<\/span><span class=\"msupsub\"><span class=\"sizing reset-size6 size3 mtight\"><span class=\"mord mathnormal mtight\">f<\/span><\/span><span class=\"vlist-s\">\u200b<\/span><\/span><\/span><span class=\"vlist-s\">\u200b<\/span><\/span><\/span><\/span><\/span><\/span><\/span><\/span><\/span><\/p>\n<p dir=\"rtl\" lang=\"fa\">\u0646\u0633\u0628\u062a \u062a\u0631\u06cc\u0646\u0631 \u0632\u0645\u0627\u0646\u06cc \u0645\u0639\u0646\u0627 \u067e\u06cc\u062f\u0627 \u0645\u06cc\u200c\u06a9\u0646\u062f \u06a9\u0647:<\/p>\n<ul dir=\"rtl\" lang=\"fa\">\n<li>\u067e\u0631\u062a\u0641\u0648\u06cc \u0648\u0627\u0642\u0639\u0627\u064b \u0645\u062a\u0646\u0648\u0639 \u0628\u0627\u0634\u062f<\/li>\n<li>\u0647\u062f\u0641\u060c \u0645\u0642\u0627\u06cc\u0633\u0647 \u0639\u0645\u0644\u06a9\u0631\u062f \u062f\u0631 \u0628\u0631\u0627\u0628\u0631 \u062d\u0631\u06a9\u062a \u0628\u0627\u0632\u0627\u0631 \u0628\u0627\u0634\u062f<\/li>\n<li>\u062a\u0635\u0645\u06cc\u0645\u200c\u06af\u06cc\u0631\u06cc \u062f\u0631 \u0633\u0637\u062d \u00ab\u0645\u062f\u06cc\u0631\u06cc\u062a \u062f\u0627\u0631\u0627\u06cc\u06cc\u00bb \u0627\u0646\u062c\u0627\u0645 \u0634\u0648\u062f\u060c \u0646\u0647 \u0645\u0639\u0627\u0645\u0644\u0647\u200c\u06af\u0631\u06cc \u06a9\u0648\u062a\u0627\u0647\u200c\u0645\u062f\u062a<\/li>\n<\/ul>\n<p dir=\"rtl\" lang=\"fa\">\u062f\u0631 \u0686\u0646\u06cc\u0646 \u0634\u0631\u0627\u06cc\u0637\u06cc\u060c \u0645\u0645\u06a9\u0646 \u0627\u0633\u062a \u062f\u0648 \u0635\u0646\u062f\u0648\u0642 \u0634\u0627\u0631\u067e \u0645\u0634\u0627\u0628\u0647\u06cc \u062f\u0627\u0634\u062a\u0647 \u0628\u0627\u0634\u0646\u062f\u060c \u0627\u0645\u0627 \u062a\u0631\u06cc\u0646\u0631 \u0646\u0634\u0627\u0646 \u062f\u0647\u062f \u06a9\u062f\u0627\u0645\u200c\u06cc\u06a9 \u0647\u0645\u200c\u0631\u0627\u0633\u062a\u0627\u062a\u0631 \u0628\u0627 \u0631\u06cc\u0633\u06a9 \u0628\u0627\u0632\u0627\u0631 \u0628\u0627\u0632\u062f\u0647 \u0627\u06cc\u062c\u0627\u062f \u06a9\u0631\u062f\u0647 \u0627\u0633\u062a.<\/p>\n<h1 dir=\"rtl\" lang=\"fa\">\u0622\u0644\u0641\u0627\u06cc \u062c\u0646\u0633\u0646 (Jensen\u2019s Alpha)<\/h1>\n<p dir=\"rtl\" lang=\"fa\"><em>(\u00ab\u0627\u0636\u0627\u0641\u0647\u200c\u0628\u0627\u0632\u062f\u0647\u00bb \u0646\u0633\u0628\u062a \u0628\u0647 \u0631\u06cc\u0633\u06a9)<\/em><\/p>\n<p dir=\"rtl\" lang=\"fa\">\u0627\u06af\u0631 \u062a\u0631\u06cc\u0646\u0631 \u0628\u06af\u0648\u06cc\u062f \u00ab\u0628\u0627\u0632\u062f\u0647 \u0628\u0647\u200c\u0627\u0632\u0627\u06cc \u0631\u06cc\u0633\u06a9 \u0628\u0627\u0632\u0627\u0631 \u0686\u0642\u062f\u0631 \u0628\u0648\u062f\u0647\u00bb\u060c \u0622\u0644\u0641\u0627\u06cc \u062c\u0646\u0633\u0646 \u06cc\u06a9 \u0633\u0624\u0627\u0644 \u062c\u0633\u0648\u0631\u0627\u0646\u0647\u200c\u062a\u0631 \u0645\u06cc\u200c\u067e\u0631\u0633\u062f:<\/p>\n<p dir=\"rtl\" lang=\"fa\">\u00ab\u0622\u06cc\u0627 \u0627\u06cc\u0646 \u0628\u0627\u0632\u062f\u0647\u060c <em>\u0628\u06cc\u0634\u062a\u0631 \u0627\u0632 \u0686\u06cc\u0632\u06cc \u0628\u0648\u062f\u0647<\/em> \u06a9\u0647 \u0628\u0627 \u062a\u0648\u062c\u0647 \u0628\u0647 \u0631\u06cc\u0633\u06a9 \u0627\u0646\u062a\u0638\u0627\u0631 \u0645\u06cc\u200c\u0631\u0641\u062a\u061f\u00bb<\/p>\n<p dir=\"rtl\" lang=\"fa\">\u0622\u0644\u0641\u0627\u06cc \u062c\u0646\u0633\u0646 \u062a\u0641\u0627\u0648\u062a \u0628\u06cc\u0646 \u0628\u0627\u0632\u062f\u0647 \u0648\u0627\u0642\u0639\u06cc \u0633\u0631\u0645\u0627\u06cc\u0647\u200c\u06af\u0630\u0627\u0631\u06cc \u0648 \u0628\u0627\u0632\u062f\u0647 \u0645\u0648\u0631\u062f\u0627\u0646\u062a\u0638\u0627\u0631 \u0622\u0646 (\u0628\u0631 \u0627\u0633\u0627\u0633 \u0645\u062f\u0644 CAPM \u0648 \u0628\u062a\u0627) \u0631\u0627 \u0627\u0646\u062f\u0627\u0632\u0647 \u0645\u06cc\u200c\u06af\u06cc\u0631\u062f. \u0628\u0647 \u0632\u0628\u0627\u0646 \u0633\u0627\u062f\u0647\u060c \u0627\u06cc\u0646 \u0645\u0639\u06cc\u0627\u0631 \u062a\u0644\u0627\u0634 \u0645\u06cc\u200c\u06a9\u0646\u062f \u0627\u062b\u0631 \u0645\u0647\u0627\u0631\u062a \u0645\u062f\u06cc\u0631 \u06cc\u0627 \u0627\u0633\u062a\u0631\u0627\u062a\u0698\u06cc \u0631\u0627 \u0627\u0632 \u0627\u062b\u0631 \u06a9\u0644\u06cc \u0628\u0627\u0632\u0627\u0631 \u062c\u062f\u0627 \u06a9\u0646\u062f.<\/p>\n<p lang=\"en\"><span class=\"katex-display\"><span class=\"katex\"><span class=\"katex-mathml\">\u03b1=Rp\u2212(Rf+\u03b2(Rm\u2212Rf)) \\alpha = R_p &#8211; \\big(R_f + \\beta (R_m &#8211; R_f)\\big) <\/span><span class=\"katex-html\" aria-hidden=\"true\"><span class=\"base\"><span class=\"mord mathnormal\">\u03b1<\/span><span class=\"mrel\">=<\/span><\/span><span class=\"base\"><span class=\"mord\"><span class=\"mord mathnormal\">R<\/span><span class=\"msupsub\"><span class=\"vlist-t vlist-t2\"><span class=\"vlist-r\"><span class=\"vlist\"><span class=\"sizing reset-size6 size3 mtight\"><span class=\"mord mathnormal mtight\">p<\/span><\/span><\/span><span class=\"vlist-s\">\u200b<\/span><\/span><\/span><\/span><\/span><span class=\"mbin\">\u2212<\/span><\/span><span class=\"base\"><span class=\"mord\"><span class=\"delimsizing size1\">(<\/span><\/span><span class=\"mord\"><span class=\"mord mathnormal\">R<\/span><span class=\"msupsub\"><span class=\"vlist-t vlist-t2\"><span class=\"vlist-r\"><span class=\"vlist\"><span class=\"sizing reset-size6 size3 mtight\"><span class=\"mord mathnormal mtight\">f<\/span><\/span><\/span><span class=\"vlist-s\">\u200b<\/span><\/span><\/span><\/span><\/span><span class=\"mbin\">+<\/span><\/span><span class=\"base\"><span class=\"mord mathnormal\">\u03b2<\/span><span class=\"mopen\">(<\/span><span class=\"mord\"><span class=\"mord mathnormal\">R<\/span><span class=\"msupsub\"><span class=\"vlist-t vlist-t2\"><span class=\"vlist-r\"><span class=\"vlist\"><span class=\"sizing reset-size6 size3 mtight\"><span class=\"mord mathnormal mtight\">m<\/span><\/span><\/span><span class=\"vlist-s\">\u200b<\/span><\/span><\/span><\/span><\/span><span class=\"mbin\">\u2212<\/span><\/span><span class=\"base\"><span class=\"mord\"><span class=\"mord mathnormal\">R<\/span><span class=\"msupsub\"><span class=\"vlist-t vlist-t2\"><span class=\"vlist-r\"><span class=\"vlist\"><span class=\"sizing reset-size6 size3 mtight\"><span class=\"mord mathnormal mtight\">f<\/span><\/span><\/span><span class=\"vlist-s\">\u200b<\/span><\/span><\/span><\/span><\/span><span class=\"mclose\">)<\/span><span class=\"mord\"><span class=\"delimsizing size1\">)<\/span><\/span><\/span><\/span><\/span><\/span><\/p>\n<p dir=\"rtl\" lang=\"fa\">\u062a\u0641\u0633\u06cc\u0631 \u0622\u0644\u0641\u0627 \u0628\u0633\u06cc\u0627\u0631 \u0634\u0647\u0648\u062f\u06cc \u0627\u0633\u062a:<\/p>\n<ul dir=\"rtl\" lang=\"fa\">\n<li>\u0622\u0644\u0641\u0627\u06cc \u0645\u062b\u0628\u062a \u2192 \u0639\u0645\u0644\u06a9\u0631\u062f \u0628\u0647\u062a\u0631 \u0627\u0632 \u0627\u0646\u062a\u0638\u0627\u0631 \u0628\u0627\u0632\u0627\u0631<\/li>\n<li>\u0622\u0644\u0641\u0627\u06cc \u0635\u0641\u0631 \u2192 \u0647\u0645\u200c\u0633\u0637\u062d \u0628\u0627 \u0631\u06cc\u0633\u06a9 \u067e\u0630\u06cc\u0631\u0641\u062a\u0647\u200c\u0634\u062f\u0647<\/li>\n<li>\u0622\u0644\u0641\u0627\u06cc \u0645\u0646\u0641\u06cc \u2192 \u0628\u0627\u0632\u062f\u0647 \u06a9\u0645\u062a\u0631 \u0627\u0632 \u0686\u06cc\u0632\u06cc \u06a9\u0647 \u0631\u06cc\u0633\u06a9 \u062a\u0648\u062c\u06cc\u0647 \u0645\u06cc\u200c\u06a9\u0631\u062f<\/li>\n<\/ul>\n<p dir=\"rtl\" lang=\"fa\">\u0628\u0647 \u0647\u0645\u06cc\u0646 \u062f\u0644\u06cc\u0644\u060c \u0622\u0644\u0641\u0627\u06cc \u062c\u0646\u0633\u0646 \u06cc\u06a9\u06cc \u0627\u0632 \u0645\u062d\u0628\u0648\u0628\u200c\u062a\u0631\u06cc\u0646 \u0645\u0639\u06cc\u0627\u0631\u0647\u0627 \u0628\u0631\u0627\u06cc \u0627\u0631\u0632\u06cc\u0627\u0628\u06cc \u0635\u0646\u062f\u0648\u0642\u200c\u0647\u0627 \u0648 \u0645\u062f\u06cc\u0631\u0627\u0646 \u062d\u0631\u0641\u0647\u200c\u0627\u06cc \u0627\u0633\u062a\u061b \u062c\u0627\u06cc\u06cc \u06a9\u0647 \u00ab\u0628\u0627\u0632\u0627\u0631 \u062e\u0648\u0628 \u0628\u0648\u062f\u0647\u00bb \u0628\u0647\u200c\u062a\u0646\u0647\u0627\u06cc\u06cc \u062a\u0648\u062c\u06cc\u0647 \u06a9\u0627\u0641\u06cc \u0646\u06cc\u0633\u062a.<\/p>\n<h1 lang=\"en\">Information Ratio \u0648 Tracking Error<\/h1>\n<p dir=\"rtl\" lang=\"fa\"><em>(\u0628\u0631\u0627\u06cc \u0645\u0642\u0627\u06cc\u0633\u0647 \u0628\u0627 \u0634\u0627\u062e\u0635)<\/em><\/p>\n<p dir=\"rtl\" lang=\"fa\">\u0648\u0642\u062a\u06cc \u0647\u062f\u0641 \u0633\u0631\u0645\u0627\u06cc\u0647\u200c\u06af\u0630\u0627\u0631\u06cc \u00ab\u0634\u06a9\u0633\u062a \u062f\u0627\u062f\u0646 \u0628\u0627\u0632\u0627\u0631\u00bb \u06cc\u0627 \u062d\u062f\u0627\u0642\u0644 \u0639\u0645\u0644\u06a9\u0631\u062f \u0645\u062a\u0641\u0627\u0648\u062a \u0646\u0633\u0628\u062a \u0628\u0647 \u0634\u0627\u062e\u0635 \u0627\u0633\u062a\u060c \u0645\u0639\u06cc\u0627\u0631\u0647\u0627\u06cc \u0642\u0628\u0644\u06cc \u06a9\u0627\u0641\u06cc \u0646\u06cc\u0633\u062a\u0646\u062f. \u0627\u06cc\u0646\u200c\u062c\u0627 \u067e\u0627\u06cc \u062f\u0648 \u0645\u0641\u0647\u0648\u0645 \u0645\u06a9\u0645\u0644 \u0648\u0633\u0637 \u0645\u06cc\u200c\u0622\u06cc\u062f: Information Ratio \u0648 Tracking Error.<\/p>\n<p dir=\"rtl\" lang=\"fa\">Tracking Error \u0645\u06cc\u0632\u0627\u0646 \u0627\u0646\u062d\u0631\u0627\u0641 \u0628\u0627\u0632\u062f\u0647 \u067e\u0631\u062a\u0641\u0648\u06cc \u0627\u0632 \u0634\u0627\u062e\u0635 \u0645\u0631\u062c\u0639 \u0631\u0627 \u0627\u0646\u062f\u0627\u0632\u0647 \u0645\u06cc\u200c\u06af\u06cc\u0631\u062f. \u0647\u0631\u0686\u0647 \u0627\u06cc\u0646 \u0639\u062f\u062f \u0628\u0632\u0631\u06af\u200c\u062a\u0631 \u0628\u0627\u0634\u062f\u060c \u06cc\u0639\u0646\u06cc \u0627\u0633\u062a\u0631\u0627\u062a\u0698\u06cc \u0641\u0639\u0627\u0644\u200c\u062a\u0631 \u0627\u0633\u062a \u0648 \u0641\u0627\u0635\u0644\u0647 \u0628\u06cc\u0634\u062a\u0631\u06cc \u0628\u0627 \u0634\u0627\u062e\u0635 \u0645\u06cc\u200c\u06af\u06cc\u0631\u062f\u2014\u0686\u0647 \u0628\u0647\u200c\u062e\u0648\u0628\u06cc\u060c \u0686\u0647 \u0628\u0647\u200c\u0628\u062f\u06cc.<\/p>\n<p dir=\"rtl\" lang=\"fa\">\u062f\u0631 \u0645\u0642\u0627\u0628\u0644\u060c Information Ratio \u0645\u06cc\u200c\u067e\u0631\u0633\u062f:<\/p>\n<p dir=\"rtl\" lang=\"fa\">\u00ab\u0627\u06cc\u0646 \u0627\u0646\u062d\u0631\u0627\u0641\u060c <em>\u0686\u0642\u062f\u0631 \u0627\u0631\u0632\u0634\u0645\u0646\u062f \u0628\u0648\u062f\u0647<\/em>\u061f\u00bb<\/p>\n<p lang=\"en\"><span class=\"katex-display\"><span class=\"katex\"><span class=\"katex-mathml\">Information\u00a0Ratio=Rp\u2212RbTracking\u00a0Error \\text{Information Ratio} = \\frac{R_p &#8211; R_b}{\\text{Tracking Error}} <\/span><span class=\"katex-html\" aria-hidden=\"true\"><span class=\"base\"><span class=\"mord text\"><span class=\"mord\">Information\u00a0Ratio<\/span><\/span><span class=\"mrel\">=<\/span><\/span><span class=\"base\"><span class=\"mord\"><span class=\"mfrac\"><span class=\"vlist-t vlist-t2\"><span class=\"vlist-r\"><span class=\"vlist\"><span class=\"mord text\">Tracking\u00a0Error<\/span><span class=\"mord mathnormal\">R<\/span><span class=\"msupsub\"><span class=\"sizing reset-size6 size3 mtight\"><span class=\"mord mathnormal mtight\">p<\/span><\/span><span class=\"vlist-s\">\u200b<\/span><\/span><span class=\"mbin\">\u2212<\/span><span class=\"mord mathnormal\">R<\/span><span class=\"msupsub\"><span class=\"sizing reset-size6 size3 mtight\"><span class=\"mord mathnormal mtight\">b<\/span><\/span><span class=\"vlist-s\">\u200b<\/span><\/span><\/span><span class=\"vlist-s\">\u200b<\/span><\/span><\/span><\/span><\/span><\/span><\/span><\/span><\/span><\/p>\n<ul dir=\"rtl\" lang=\"fa\">\n<li><span class=\"katex\"><span class=\"katex-mathml\">RpR_p<\/span><span class=\"katex-html\" aria-hidden=\"true\"><span class=\"base\"><span class=\"mord\"><span class=\"mord mathnormal\">R<\/span><span class=\"msupsub\"><span class=\"vlist-t vlist-t2\"><span class=\"vlist-r\"><span class=\"vlist\"><span class=\"sizing reset-size6 size3 mtight\"><span class=\"mord mathnormal mtight\">p<\/span><\/span><\/span><span class=\"vlist-s\">\u200b<\/span><\/span><\/span><\/span><\/span><\/span><\/span><\/span>: \u0628\u0627\u0632\u062f\u0647 \u067e\u0631\u062a\u0641\u0648\u06cc<\/li>\n<li><span class=\"katex\"><span class=\"katex-mathml\">RbR_b<\/span><span class=\"katex-html\" aria-hidden=\"true\"><span class=\"base\"><span class=\"mord\"><span class=\"mord mathnormal\">R<\/span><span class=\"msupsub\"><span class=\"vlist-t vlist-t2\"><span class=\"vlist-r\"><span class=\"vlist\"><span class=\"sizing reset-size6 size3 mtight\"><span class=\"mord mathnormal mtight\">b<\/span><\/span><\/span><span class=\"vlist-s\">\u200b<\/span><\/span><\/span><\/span><\/span><\/span><\/span><\/span>: \u0628\u0627\u0632\u062f\u0647 \u0634\u0627\u062e\u0635 (Benchmark)<\/li>\n<\/ul>\n<p dir=\"rtl\" lang=\"fa\">\u0628\u0631\u0627\u06cc \u062f\u0631\u06a9 \u0628\u0647\u062a\u0631\u060c \u062c\u062f\u0648\u0644 \u0632\u06cc\u0631 \u062f\u06cc\u062f \u0633\u0631\u06cc\u0639\u06cc \u0645\u06cc\u200c\u062f\u0647\u062f:<\/p>\n<div class=\"table-container\">\n<table style=\"width: 34.1056%; height: 54px;\">\n<thead>\n<tr style=\"height: 18px;\">\n<th style=\"height: 18px;\">\u0645\u0639\u06cc\u0627\u0631<\/th>\n<th style=\"height: 18px;\">\u0686\u0647 \u0686\u06cc\u0632\u06cc \u0631\u0627 \u0645\u06cc\u200c\u0633\u0646\u062c\u062f\u061f<\/th>\n<th style=\"height: 18px;\">\u06a9\u0627\u0631\u0628\u0631\u062f \u0627\u0635\u0644\u06cc<\/th>\n<\/tr>\n<\/thead>\n<tbody>\n<tr style=\"height: 18px;\">\n<td lang=\"en\" style=\"height: 18px;\">Tracking Error<\/td>\n<td dir=\"rtl\" lang=\"fa\" style=\"height: 18px;\">\u0634\u062f\u062a \u0641\u0627\u0635\u0644\u0647 \u06af\u0631\u0641\u062a\u0646 \u0627\u0632 \u0634\u0627\u062e\u0635<\/td>\n<td dir=\"rtl\" lang=\"fa\" style=\"height: 18px;\">\u062a\u0634\u062e\u06cc\u0635 \u0645\u06cc\u0632\u0627\u0646 \u0641\u0639\u0627\u0644\u200c\u0628\u0648\u062f\u0646 \u0627\u0633\u062a\u0631\u0627\u062a\u0698\u06cc<\/td>\n<\/tr>\n<tr style=\"height: 18px;\">\n<td lang=\"en\" style=\"height: 18px;\">Information Ratio<\/td>\n<td dir=\"rtl\" lang=\"fa\" style=\"height: 18px;\">\u06a9\u06cc\u0641\u06cc\u062a \u0627\u06cc\u0646 \u0641\u0627\u0635\u0644\u0647<\/td>\n<td dir=\"rtl\" lang=\"fa\" style=\"height: 18px;\">\u0633\u0646\u062c\u0634 \u0627\u0631\u0632\u0634 \u0627\u0641\u0632\u0648\u062f\u0647 \u0646\u0633\u0628\u062a \u0628\u0647 \u0634\u0627\u062e\u0635<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<\/div>\n<p dir=\"rtl\" lang=\"fa\">\u0646\u06a9\u062a\u0647 \u0638\u0631\u06cc\u0641 \u0627\u06cc\u0646\u062c\u0627\u0633\u062a:<\/p>\n<p dir=\"rtl\" lang=\"fa\">Tracking Error \u0628\u0627\u0644\u0627 \u0628\u0647\u200c\u062a\u0646\u0647\u0627\u06cc\u06cc \u062e\u0648\u0628 \u06cc\u0627 \u0628\u062f \u0646\u06cc\u0633\u062a\u061b \u0627\u0645\u0627 Information Ratio \u0628\u0627\u0644\u0627 \u06cc\u0639\u0646\u06cc \u0627\u06cc\u0646 \u0627\u0646\u062d\u0631\u0627\u0641\u060c \u0622\u06af\u0627\u0647\u0627\u0646\u0647 \u0648 \u067e\u0631\u0628\u0627\u0632\u062f\u0647 \u0628\u0648\u062f\u0647\u2014not \u062d\u0627\u0635\u0644 \u0634\u0627\u0646\u0633 \u06cc\u0627 \u0631\u06cc\u0633\u06a9 \u0628\u06cc\u200c\u0647\u062f\u0641.<\/p>\n<h1 dir=\"rtl\" lang=\"fa\">\u062e\u0637\u0627\u0647\u0627\u06cc \u0631\u0627\u06cc\u062c \u062f\u0631 \u062a\u0641\u0633\u06cc\u0631 \u0645\u0639\u06cc\u0627\u0631\u0647\u0627\u06cc \u0628\u0627\u0632\u062f\u0647 \u062a\u0639\u062f\u06cc\u0644\u200c\u0634\u062f\u0647 \u0628\u0627 \u0631\u06cc\u0633\u06a9<\/h1>\n<p dir=\"rtl\" lang=\"fa\"><em>(\u062c\u0627\u06cc\u06cc \u06a9\u0647 \u0639\u062f\u062f \u062f\u0631\u0633\u062a \u0627\u0633\u062a\u060c \u0627\u0645\u0627 \u0646\u062a\u06cc\u062c\u0647 \u063a\u0644\u0637 \u0645\u06cc\u200c\u0634\u0648\u062f)<\/em><\/p>\n<p dir=\"rtl\" lang=\"fa\">\u0628\u062e\u0634 \u0628\u0632\u0631\u06af\u06cc \u0627\u0632 \u0627\u0634\u062a\u0628\u0627\u0647\u0627\u062a \u062a\u062d\u0644\u06cc\u0644\u06cc \u0646\u0647 \u0627\u0632 \u0641\u0631\u0645\u0648\u0644\u060c \u0628\u0644\u06a9\u0647 \u0627\u0632 \u062a\u0641\u0633\u06cc\u0631 \u0646\u0627\u062f\u0631\u0633\u062a \u062f\u0627\u062f\u0647\u200c\u0647\u0627 \u0645\u06cc\u200c\u0622\u06cc\u062f. \u0628\u0633\u06cc\u0627\u0631\u06cc \u0627\u0632 \u0633\u0631\u0645\u0627\u06cc\u0647\u200c\u06af\u0630\u0627\u0631\u0627\u0646 \u0646\u0633\u0628\u062a \u0634\u0627\u0631\u067e \u06cc\u0627 \u0622\u0644\u0641\u0627 \u0631\u0627 \u062f\u0631\u0633\u062a \u0645\u062d\u0627\u0633\u0628\u0647 \u0645\u06cc\u200c\u06a9\u0646\u0646\u062f\u060c \u0627\u0645\u0627 \u0628\u0647\u200c\u062f\u0644\u06cc\u0644 \u062e\u0637\u0627\u0647\u0627\u06cc \u0631\u0641\u062a\u0627\u0631\u06cc \u06cc\u0627 \u0622\u0645\u0627\u0631\u06cc\u060c \u0628\u0647 \u062a\u0635\u0645\u06cc\u0645 \u0627\u0634\u062a\u0628\u0627\u0647 \u0645\u06cc\u200c\u0631\u0633\u0646\u062f. \u0627\u06cc\u0646 \u062e\u0637\u0627\u0647\u0627 \u0645\u0639\u0645\u0648\u0644\u0627\u064b \u0622\u0631\u0627\u0645 \u0648 \u0628\u06cc\u200c\u0633\u0631\u0648\u0635\u062f\u0627 \u0648\u0627\u0631\u062f \u062a\u062d\u0644\u06cc\u0644 \u0645\u06cc\u200c\u0634\u0648\u0646\u062f \u0648 \u0628\u0639\u062f\u0627\u064b \u0647\u0632\u06cc\u0646\u0647\u200c\u0634\u0627\u0646 \u0645\u0634\u062e\u0635 \u0645\u06cc\u200c\u0634\u0648\u062f.<\/p>\n<p dir=\"rtl\" lang=\"fa\">\u0633\u0647 \u062e\u0637\u0627\u06cc \u067e\u0631\u062a\u06a9\u0631\u0627\u0631 \u0631\u0627 \u0628\u0627\u06cc\u062f \u0647\u0645\u06cc\u0634\u0647 \u062c\u0644\u0648\u06cc \u0686\u0634\u0645 \u062f\u0627\u0634\u062a:<\/p>\n<ul dir=\"rtl\" lang=\"fa\">\n<li>\n<p dir=\"rtl\" lang=\"fa\">Sample Bias (\u0633\u0648\u06af\u06cc\u0631\u06cc \u0646\u0645\u0648\u0646\u0647):<\/p>\n<p dir=\"rtl\" lang=\"fa\">\u0645\u062d\u0627\u0633\u0628\u0647 \u0645\u0639\u06cc\u0627\u0631\u0647\u0627 \u0631\u0648\u06cc \u062f\u0648\u0631\u0647\u200c\u0627\u06cc \u06a9\u0647 \u0628\u0627\u0632\u0627\u0631 \u0641\u0642\u0637 \u0635\u0639\u0648\u062f\u06cc \u06cc\u0627 \u0641\u0642\u0637 \u0646\u0632\u0648\u0644\u06cc \u0628\u0648\u062f\u0647. \u0639\u062f\u062f \u0628\u0647\u200c\u0638\u0627\u0647\u0631 \u0639\u0627\u0644\u06cc \u0627\u0633\u062a\u060c \u0627\u0645\u0627 \u0646\u0645\u0627\u06cc\u0646\u062f\u0647 \u0631\u0641\u062a\u0627\u0631 \u0648\u0627\u0642\u0639\u06cc \u062f\u0627\u0631\u0627\u06cc\u06cc \u0646\u06cc\u0633\u062a.<\/p>\n<\/li>\n<li>\n<p dir=\"rtl\" lang=\"fa\">\u0627\u0646\u062a\u062e\u0627\u0628 \u0628\u0627\u0632\u0647 \u0632\u0645\u0627\u0646\u06cc \u062f\u0644\u062e\u0648\u0627\u0647:<\/p>\n<p dir=\"rtl\" lang=\"fa\">\u062a\u063a\u06cc\u06cc\u0631 \u0628\u0627\u0632\u0647 \u062a\u0627 \u062c\u0627\u06cc\u06cc \u06a9\u0647 \u0639\u062f\u062f \u00ab\u062e\u0648\u0634\u06af\u0644\u00bb \u0634\u0648\u062f. \u0627\u06cc\u0646 \u06a9\u0627\u0631 \u062a\u062d\u0644\u06cc\u0644 \u0631\u0627 \u0627\u0632 \u0627\u0628\u0632\u0627\u0631 \u062a\u0635\u0645\u06cc\u0645\u200c\u0633\u0627\u0632\u06cc\u060c \u0628\u0647 \u0627\u0628\u0632\u0627\u0631 \u062a\u0648\u062c\u06cc\u0647 \u0630\u0647\u0646\u06cc \u062a\u0628\u062f\u06cc\u0644 \u0645\u06cc\u200c\u06a9\u0646\u062f.<\/p>\n<\/li>\n<li>\n<p dir=\"rtl\" lang=\"fa\">\u0646\u0648\u0633\u0627\u0646\u200c\u06af\u06cc\u0631\u06cc \u0648 \u062f\u0627\u062f\u0647\u200c\u0647\u0627\u06cc \u067e\u0631 \u0633\u0631 \u0648 \u0635\u062f\u0627:<\/p>\n<p dir=\"rtl\" lang=\"fa\">\u062f\u0631 \u062f\u0627\u0631\u0627\u06cc\u06cc\u200c\u0647\u0627\u06cc \u067e\u0631\u0645\u0639\u0627\u0645\u0644\u0647\u060c \u0646\u0648\u0633\u0627\u0646 \u06a9\u0648\u062a\u0627\u0647\u200c\u0645\u062f\u062a \u0645\u06cc\u200c\u062a\u0648\u0627\u0646\u062f \u0645\u0639\u06cc\u0627\u0631\u0647\u0627\u06cc\u06cc \u0645\u062b\u0644 \u0634\u0627\u0631\u067e \u0631\u0627 \u0645\u0635\u0646\u0648\u0639\u06cc \u0628\u0627\u0644\u0627 \u06cc\u0627 \u067e\u0627\u06cc\u06cc\u0646 \u0646\u0634\u0627\u0646 \u062f\u0647\u062f\u060c \u0628\u062f\u0648\u0646 \u0627\u06cc\u0646\u06a9\u0647 \u06a9\u06cc\u0641\u06cc\u062a \u0648\u0627\u0642\u0639\u06cc \u0627\u0633\u062a\u0631\u0627\u062a\u0698\u06cc \u062a\u063a\u06cc\u06cc\u0631 \u06a9\u0631\u062f\u0647 \u0628\u0627\u0634\u062f.<\/p>\n<\/li>\n<\/ul>\n<p dir=\"rtl\" lang=\"fa\">\u0646\u06a9\u062a\u0647 \u06a9\u0644\u06cc\u062f\u06cc \u0627\u06cc\u0646\u062c\u0627\u0633\u062a: \u0645\u0639\u06cc\u0627\u0631\u0647\u0627\u06cc \u0628\u0627\u0632\u062f\u0647 \u062a\u0639\u062f\u06cc\u0644\u200c\u0634\u062f\u0647 \u0641\u0642\u0637 \u0648\u0642\u062a\u06cc \u0645\u0639\u0646\u0627 \u062f\u0627\u0631\u0646\u062f \u06a9\u0647 \u0628\u0627\u0641\u062a \u0628\u0627\u0632\u0627\u0631 \u0648 \u0631\u0641\u062a\u0627\u0631 \u062f\u0627\u0631\u0627\u06cc\u06cc \u062f\u0631 \u0646\u0638\u0631 \u06af\u0631\u0641\u062a\u0647 \u0634\u0648\u0646\u062f\u2014not \u062f\u0631 \u062e\u0644\u0623 \u0639\u062f\u062f\u06cc.<\/p>\n<h1 dir=\"rtl\" lang=\"fa\">\u0686\u06a9\u200c\u0644\u06cc\u0633\u062a \u0627\u0646\u062a\u062e\u0627\u0628 \u0645\u0639\u06cc\u0627\u0631 \u0645\u0646\u0627\u0633\u0628 \u0628\u0631\u0627\u06cc \u0627\u0641\u0631\u0627\u062f \u0645\u062e\u062a\u0644\u0641<\/h1>\n<p dir=\"rtl\" lang=\"fa\"><em>(\u0647\u0645\u0647 \u0628\u0647 \u06cc\u06a9 \u0645\u062a\u0631 \u0646\u06cc\u0627\u0632 \u0646\u062f\u0627\u0631\u0646\u062f)<\/em><\/p>\n<p dir=\"rtl\" lang=\"fa\">\u06cc\u06a9\u06cc \u0627\u0632 \u0627\u0634\u062a\u0628\u0627\u0647\u0627\u062a \u0631\u0627\u06cc\u062c \u0627\u06cc\u0646 \u0627\u0633\u062a \u06a9\u0647 \u0647\u0645\u0647 \u0633\u0631\u0645\u0627\u06cc\u0647\u200c\u06af\u0630\u0627\u0631\u0627\u0646 \u0631\u0627 \u0628\u0627 \u06cc\u06a9 \u0645\u0639\u06cc\u0627\u0631 \u0645\u06cc\u200c\u0633\u0646\u062c\u0646\u062f. \u062f\u0631 \u062d\u0627\u0644\u06cc\u200c\u06a9\u0647 \u0646\u0648\u0639 \u0641\u0639\u0627\u0644\u06cc\u062a\u060c \u0627\u0641\u0642 \u0632\u0645\u0627\u0646\u06cc \u0648 \u0647\u062f\u0641\u060c \u062a\u0639\u06cc\u06cc\u0646 \u0645\u06cc\u200c\u06a9\u0646\u062f \u06a9\u062f\u0627\u0645 \u0645\u0639\u06cc\u0627\u0631 \u0648\u0627\u0642\u0639\u0627\u064b \u00ab\u0645\u0641\u06cc\u062f\u00bb \u0627\u0633\u062a. \u0627\u06cc\u0646\u200c\u062c\u0627 \u06cc\u06a9 \u062f\u0633\u062a\u0647\u200c\u0628\u0646\u062f\u06cc \u0630\u0647\u0646\u06cc \u0633\u0627\u062f\u0647\u2014but \u06a9\u0627\u0631\u0628\u0631\u062f\u06cc\u2014\u06a9\u0645\u06a9 \u0645\u06cc\u200c\u06a9\u0646\u062f.<\/p>\n<div class=\"table-container\">\n<table>\n<thead>\n<tr>\n<th>\u062a\u06cc\u067e \u0633\u0631\u0645\u0627\u06cc\u0647\u200c\u06af\u0630\u0627\u0631<\/th>\n<th>\u0645\u0639\u06cc\u0627\u0631\u0647\u0627\u06cc \u0645\u0646\u0637\u0642\u06cc\u200c\u062a\u0631<\/th>\n<th>\u062f\u0644\u06cc\u0644 \u0627\u0646\u062a\u062e\u0627\u0628<\/th>\n<\/tr>\n<\/thead>\n<tbody>\n<tr>\n<td dir=\"rtl\" lang=\"fa\">\u0633\u0631\u0645\u0627\u06cc\u0647\u200c\u06af\u0630\u0627\u0631 \u0628\u0644\u0646\u062f\u0645\u062f\u062a<\/td>\n<td dir=\"rtl\" lang=\"fa\">\u0634\u0627\u0631\u067e\u060c \u0633\u0648\u0631\u062a\u06cc\u0646\u0648<\/td>\n<td dir=\"rtl\" lang=\"fa\">\u062a\u0645\u0631\u06a9\u0632 \u0631\u0648\u06cc \u067e\u0627\u06cc\u062f\u0627\u0631\u06cc \u0628\u0627\u0632\u062f\u0647<\/td>\n<\/tr>\n<tr>\n<td dir=\"rtl\" lang=\"fa\">\u0645\u062f\u06cc\u0631 \u067e\u0631\u062a\u0641\u0648\u06cc \u0645\u062a\u0646\u0648\u0639<\/td>\n<td dir=\"rtl\" lang=\"fa\">\u062a\u0631\u06cc\u0646\u0631\u060c \u0622\u0644\u0641\u0627\u06cc \u062c\u0646\u0633\u0646<\/td>\n<td dir=\"rtl\" lang=\"fa\">\u0627\u0647\u0645\u06cc\u062a \u0631\u06cc\u0633\u06a9 \u0633\u06cc\u0633\u062a\u0645\u0627\u062a\u06cc\u06a9 \u0648 \u0645\u0647\u0627\u0631\u062a<\/td>\n<\/tr>\n<tr>\n<td dir=\"rtl\" lang=\"fa\">\u0627\u0633\u062a\u0631\u0627\u062a\u0698\u06cc \u0641\u0639\u0627\u0644 \u0646\u0633\u0628\u062a \u0628\u0647 \u0634\u0627\u062e\u0635<\/td>\n<td lang=\"en\">Information Ratio<\/td>\n<td dir=\"rtl\" lang=\"fa\">\u0633\u0646\u062c\u0634 \u0627\u0631\u0632\u0634 \u0627\u0641\u0632\u0648\u062f\u0647 \u0648\u0627\u0642\u0639\u06cc<\/td>\n<\/tr>\n<tr>\n<td dir=\"rtl\" lang=\"fa\">\u0633\u0631\u0645\u0627\u06cc\u0647\u200c\u06af\u0630\u0627\u0631 \u0645\u062d\u0627\u0641\u0638\u0647\u200c\u06a9\u0627\u0631<\/td>\n<td dir=\"rtl\" lang=\"fa\">\u0633\u0648\u0631\u062a\u06cc\u0646\u0648<\/td>\n<td dir=\"rtl\" lang=\"fa\">\u062d\u0633\u0627\u0633\u06cc\u062a \u0628\u0627\u0644\u0627 \u0628\u0647 \u0627\u0641\u062a\u200c\u0647\u0627<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<\/div>\n<p dir=\"rtl\" lang=\"fa\">\u0627\u06af\u0631 \u0628\u062e\u0648\u0627\u0647\u06cc\u0645 \u062e\u0644\u0627\u0635\u0647 \u06a9\u0646\u06cc\u0645\u060c \u0627\u0646\u062a\u062e\u0627\u0628 \u0645\u0639\u06cc\u0627\u0631 \u0628\u0627\u06cc\u062f \u0628\u0627 \u0647\u062f\u0641 \u062a\u0635\u0645\u06cc\u0645 \u0647\u0645\u200c\u0631\u0627\u0633\u062a\u0627 \u0628\u0627\u0634\u062f\u060c \u0646\u0647 \u0635\u0631\u0641\u0627\u064b \u0628\u0627 \u0645\u062d\u0628\u0648\u0628\u200c\u062a\u0631\u06cc\u0646 \u0639\u062f\u062f \u0628\u0627\u0632\u0627\u0631. \u062f\u0642\u06cc\u0642\u0627\u064b \u0628\u0647 \u0647\u0645\u06cc\u0646 \u062f\u0644\u06cc\u0644 \u0627\u0633\u062a \u06a9\u0647 \u062f\u0631 \u062a\u062d\u0644\u06cc\u0644 \u0639\u0645\u0644\u06a9\u0631\u062f \u067e\u0631\u062a\u0641\u0648\u06cc \u0645\u0639\u0645\u0648\u0644\u0627\u064b \u0627\u0632 \u0686\u0646\u062f \u0645\u0639\u06cc\u0627\u0631 \u0645\u06a9\u0645\u0644 \u0627\u0633\u062a\u0641\u0627\u062f\u0647 \u0645\u06cc\u200c\u0634\u0648\u062f\u060c \u0646\u0647 \u06cc\u06a9\u06cc.<\/p>\n<h1 dir=\"rtl\" lang=\"fa\">\u062c\u0645\u0639\u200c\u0628\u0646\u062f\u06cc \u0646\u0647\u0627\u06cc\u06cc: \u0628\u0627\u0644\u0627\u062e\u0631\u0647 \u06a9\u062f\u0627\u0645 \u0645\u0639\u06cc\u0627\u0631 \u00ab\u0628\u0647\u062a\u0631\u00bb \u0627\u0633\u062a\u061f<\/h1>\n<p dir=\"rtl\" lang=\"fa\">\u067e\u0627\u0633\u062e \u06a9\u0648\u062a\u0627\u0647 \u0648 \u0635\u0627\u062f\u0642\u0627\u0646\u0647 \u0627\u06cc\u0646 \u0627\u0633\u062a: \u0647\u06cc\u0686\u200c\u06a9\u062f\u0627\u0645 \u0628\u0647\u200c\u062a\u0646\u0647\u0627\u06cc\u06cc \u0628\u0647\u062a\u0631\u06cc\u0646 \u0646\u06cc\u0633\u062a\u0646\u062f.<\/p>\n<p dir=\"rtl\" lang=\"fa\">\u0628\u0627\u0632\u062f\u0647 \u062a\u0639\u062f\u06cc\u0644\u200c\u0634\u062f\u0647 \u0628\u0627 \u0631\u06cc\u0633\u06a9 \u06cc\u06a9 \u0645\u0641\u0647\u0648\u0645 \u0686\u0646\u062f\u0628\u0639\u062f\u06cc \u0627\u0633\u062a \u0648 \u0647\u0631 \u0645\u0639\u06cc\u0627\u0631 \u0641\u0642\u0637 \u06cc\u06a9 \u0628\u064f\u0639\u062f \u0622\u0646 \u0631\u0627 \u0631\u0648\u0634\u0646 \u0645\u06cc\u200c\u06a9\u0646\u062f. \u0634\u0627\u0631\u067e \u06a9\u06cc\u0641\u06cc\u062a \u0628\u0627\u0632\u062f\u0647 \u062f\u0631 \u0628\u0631\u0627\u0628\u0631 \u0646\u0648\u0633\u0627\u0646 \u0631\u0627 \u0646\u0634\u0627\u0646 \u0645\u06cc\u200c\u062f\u0647\u062f\u060c \u0633\u0648\u0631\u062a\u06cc\u0646\u0648 \u0631\u0648\u06cc \u0631\u06cc\u0633\u06a9\u200c\u0647\u0627\u06cc \u0622\u0632\u0627\u0631\u062f\u0647\u0646\u062f\u0647 \u062a\u0645\u0631\u06a9\u0632 \u0645\u06cc\u200c\u06a9\u0646\u062f\u060c \u062a\u0631\u06cc\u0646\u0631 \u0648 \u0622\u0644\u0641\u0627 \u0628\u0627\u0632\u0627\u0631 \u0631\u0627 \u0641\u06cc\u0644\u062a\u0631 \u0645\u06cc\u200c\u06a9\u0646\u0646\u062f\u060c \u0648 Information Ratio \u0639\u0645\u0644\u06a9\u0631\u062f \u0631\u0627 \u062f\u0631 \u0632\u0645\u06cc\u0646 \u0634\u0627\u062e\u0635 \u0645\u06cc\u200c\u0633\u0646\u062c\u062f.<\/p>\n<p dir=\"rtl\" lang=\"fa\">\u0627\u06af\u0631 \u0628\u062e\u0648\u0627\u0647\u06cc\u0645 \u0633\u0624\u0627\u0644 \u0627\u0635\u0644\u06cc \u0645\u0642\u0627\u0644\u0647 \u0631\u0627 \u062c\u0645\u0639\u200c\u0628\u0646\u062f\u06cc \u06a9\u0646\u06cc\u0645:<\/p>\n<blockquote>\n<p dir=\"rtl\" lang=\"fa\">\u00ab\u06a9\u062f\u0627\u0645 \u0633\u0631\u0645\u0627\u06cc\u0647\u200c\u06af\u0630\u0627\u0631\u06cc \u0628\u0647\u062a\u0631 \u0627\u0633\u062a\u061f\u00bb<\/p>\n<\/blockquote>\n<p dir=\"rtl\" lang=\"fa\">\u067e\u0627\u0633\u062e \u062f\u0631\u0633\u062a \u0627\u06cc\u0646 \u0627\u0633\u062a: \u0622\u0646\u200c\u06a9\u0647 \u0628\u0647\u200c\u0627\u0632\u0627\u06cc \u0631\u06cc\u0633\u06a9\u06cc \u06a9\u0647 \u0628\u0631\u0627\u06cc <em>\u062a\u0648<\/em> \u0645\u0647\u0645 \u0627\u0633\u062a\u060c \u0628\u0627\u0632\u062f\u0647 \u0628\u0647\u062a\u0631\u06cc \u0633\u0627\u062e\u062a\u0647 \u0628\u0627\u0634\u062f.<\/p>\n<p dir=\"rtl\" lang=\"fa\">\u0648 \u0627\u06cc\u0646 \u062f\u0642\u06cc\u0642\u0627\u064b \u0647\u0645\u0627\u0646 \u062c\u0627\u06cc\u06cc \u0627\u0633\u062a \u06a9\u0647 \u0645\u0641\u0647\u0648\u0645 \u0628\u0627\u0632\u062f\u0647 \u062a\u0639\u062f\u06cc\u0644\u200c\u0634\u062f\u0647 \u0628\u0627 \u0631\u06cc\u0633\u06a9 \u0627\u0632 \u06cc\u06a9 \u062a\u0639\u0631\u06cc\u0641 \u062a\u0626\u0648\u0631\u06cc\u06a9\u060c \u0628\u0647 \u06cc\u06a9 \u0627\u0628\u0632\u0627\u0631 \u062a\u0635\u0645\u06cc\u0645\u200c\u0633\u0627\u0632\u06cc \u0648\u0627\u0642\u0639\u06cc \u062a\u0628\u062f\u06cc\u0644 \u0645\u06cc\u200c\u0634\u0648\u062f\u2014\u0627\u0628\u0632\u0627\u0631\u06cc \u06a9\u0647 \u06a9\u0645\u06a9 \u0645\u06cc\u200c\u06a9\u0646\u062f \u0646\u0647 \u0641\u0642\u0637 \u0633\u0648\u062f\u0622\u0648\u0631\u062a\u0631\u060c \u0628\u0644\u06a9\u0647 \u0622\u06af\u0627\u0647\u0627\u0646\u0647\u200c\u062a\u0631 \u0633\u0631\u0645\u0627\u06cc\u0647\u200c\u06af\u0630\u0627\u0631\u06cc \u06a9\u0646\u06cc\u0645.<\/p>\n<p dir=\"rtl\" lang=\"fa\">\u0627\u06af\u0631 \u0628\u062e\u0648\u0627\u0647\u06cc\u060c \u062f\u0631 \u06af\u0627\u0645 \u0628\u0639\u062f\u06cc \u0645\u06cc\u200c\u062a\u0648\u0627\u0646\u06cc\u0645 \u0633\u0631\u0627\u063a FAQ\u0647\u0627\u06cc \u0646\u0647\u0627\u06cc\u06cc (\u0641\u0627\u0632 \u06f2) \u0628\u0631\u0648\u06cc\u0645\u061b \u0628\u0627 \u067e\u0627\u0633\u062e\u200c\u0647\u0627\u06cc \u06a9\u0648\u062a\u0627\u0647\u060c \u0627\u0633\u0646\u06cc\u067e\u062a\u200c\u067e\u0633\u0646\u062f \u0648 \u062f\u0642\u06cc\u0642\u0627\u064b \u0645\u0646\u0637\u0628\u0642 \u0628\u0627 \u0633\u0624\u0627\u0644\u0627\u062a \u067e\u0631\u062a\u06a9\u0631\u0627\u0631 \u06a9\u0627\u0631\u0628\u0631\u0627\u0646 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