CandleChasers

PORTFOLIO & PERFORMANCE

Time-Weighted Return Calculator

Chain subperiod returns while removing end-of-period external cash flows.

Your inputs

Use one currency throughout. Results update as you type.

Your result

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How to use this calculator

Adjust the inputs to your own scenario, then review the result alongside the assumptions below. The $ symbol is a currency label; the tool does not convert exchange rates.

Worked example

A $10,000 start ending at $11,500 after a $1,000 deposit is 5%; another 5% period chains to 10.25%.

The formula

Subperiod return = (ending value − end-period net flow) ÷ beginning value − 1. Total TWR = product(1 + subperiod return) − 1.

What the result means

Compare the output with the stated assumptions. Changing an input changes the arithmetic; it does not establish how a real trade or investment will perform.

Assumptions and limitations

Flows assumed at period end. For flows within a period, split at each flow with accurate valuations. Does not annualize without an elapsed-time input.

Common questions

What does this calculation include?

Flows assumed at period end. For flows within a period, split at each flow with accurate valuations. Does not annualize without an elapsed-time input.

Are the example inputs recommendations?

No. The defaults are worked examples. Enter values appropriate to your own calculation; outputs are estimates rather than forecasts.

Put your trading rules to the test

Explore supported daily stock rules, then review historical trades, drawdowns, and the report’s assumptions.

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Educational calculations, not a forecast or personalized investment advice. Your inputs are used locally for the calculation and are not submitted by this tool.

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