Calmar Ratio Calculator
Enter annual return and max drawdown to compute the Calmar ratio.
Results
Fill in the inputs and click Calculate.
- Calmar Ratio
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Risk disclaimer
This calculator provides estimates for informational purposes only and is not investment advice.
What does Calmar look at?
Calmar = Annual Return ÷ Max Drawdown — return earned per unit of drawdown risk.
Higher is better for drawdown-sensitive equity curves.
How to use
- Enter the annual return in percent.
- Enter the maximum drawdown in percent (positive).
- Click Calculate to see the Calmar ratio.
Formula
- Calmar = Annual Return ÷ Max Drawdown
Example
20% return, 20% drawdown → Calmar 1.00.
30% return, 10% drawdown → Calmar 3.00.
FAQ
Positive or negative drawdown?
Enter the positive magnitude (e.g. 20 = 20%); the formula treats it as positive.
Vs Sharpe?
Sharpe uses volatility; Calmar uses max drawdown — better for drawdown-focused review.
Can these calculations be executed automatically?
Yes. Work out the parameters and risk limits here first, then hand the same rules to a quant system such as CubeQuants so you don't have to place orders manually. Fills still depend on your exchange, so verify with a small size first.