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Definitions, data sources and formulas of the account-value display. The data comes straight from the founder's Interactive Brokers account. The curve shows account value (NAV); time-weighted returns and risk metrics come separately from the broker's TWR report. The track record is self-published; there is no external attestation.
Version 1.3 · Last revised 2026-10-09
Account value (NAV).
An external cash flow is anything that crosses the boundary of the account: deposits, withdrawals and transfers of securities from or to another account. Dividends, interest, fees, taxes and currency conversions stay inside the account and are not part of it.
The statement comes from the broker's account statements (Flex statements) and is read again with every new one. “None” is stated only when the statements cover every day since the curve began; where statements are missing, this place says “Account value (NAV)” and nothing more. The first day of the curve is the starting value: whatever had been paid in by then is part of it.
The NAV curve is the series of recorded account values. Separately, a qualified IBKR PortfolioAnalyst report supplies cumulative TWR. Daily return = (1 + today's TWR) / (1 + preceding TWR) − 1. The first point is only the comparison baseline; the retrieval day is excluded as potentially provisional. Metrics state their own TWR period, account base currency and retrieval date.
(end index / start index)^(365.25 / calendar days) − 1
Geometric annualization of TWR change over the stated period (CAGR), not a scaled arithmetic average. Each index value is 1 + the broker's cumulative TWR.
Requires a qualified daily TWR report for the configured account and at least 30 derived returns. No missing days or opening values are filled; undefined ratios stay blank.
sampleStdDev(daily returns, ddof=1) × √252
Sample standard deviation of daily returns (Bessel-corrected, dividing by N−1), annualised by √252. Measures how much the daily return typically swings — a risk measure, not a return.
Requires a qualified daily TWR report for the configured account and at least 30 derived returns. No missing days or opening values are filled; undefined ratios stay blank.
mean(daily returns) / sample standard deviation × √252 (benchmark 0%)
Return earned per unit of total volatility, with the risk-free rate set to zero. Higher is better.
Requires a qualified daily TWR report for the configured account and at least 30 derived returns. No missing days or opening values are filled; undefined ratios stay blank.
mean(daily returns) / √mean(min(r, 0)²) × √252 (target 0%)
Like Sharpe but the denominator only penalises losses. Downside deviation = √( Σ min(rᵢ, 0)² / N ) × √252 — the root-mean-square of the negative daily returns against a 0 target, averaged over the FULL count N.
Requires a qualified daily TWR report for the configured account and at least 30 derived returns. No missing days or opening values are filled; undefined ratios stay blank.
annualised return ÷ |max drawdown|
Geometrically annualized TWR divided by the absolute maximum TWR drawdown in the stated period, not necessarily since account inception and never from NAV declines.
Requires a qualified daily TWR report for the configured account and at least 30 derived returns. No missing days or opening values are filled; undefined ratios stay blank.
min over t of ( valueₜ / running_peakₜ − 1 )
The largest percentage decline from a previous high in the series being considered. For recorded account values this describes a decline in NAV.
Separately labelled TWR drawdown and Calmar use only the qualified return index over its own period.
The public curve is calculated from the daily NAV series. The broker's interface (CPAPI) writes the running value for the day; the broker's Flex statement sets the daily close. Imported executions carry the broker's execution ID; where it is missing, a documented fallback key applies.
The current portfolio snapshot is selected from cached IBKR-linked tiers. Separately, IBKR Flex daily summaries can settle or correct a provisional CPAPI NAV point in the historical series. The public route does not query IBKR directly on each request.
If a brokerExecutionId is present, the import uses EXEC|brokerExecutionId|symbol|action. If it is missing, the importer falls back to a composite key of timestamp, symbol, side, quantity, price and order reference. Manual rows can also exist. These keys serve to detect duplicate imports.
Currency is excluded from the execution-ID key because CPAPI and Flex can represent the same listing in different currencies. Order references are stored separately and help group partial fills. Rows without an execution ID rely on the fallback key above.
Daily NAV values are stored by date without a display cap. The current day's value is provisional and is updated intraday; the IBKR Flex close settles it. A documented operator override can replace a value.
The public summary exposes one overall freshness state for the selected current portfolio snapshot. LIVE, STALE and FALLBACK are emitted by this route; SHADOW describes a provider diagnostics mode. The historical NAV series is kept separately.
| State | Meaning / condition |
|---|---|
| LIVE | Snapshot from the portfolio cache, at most 15 minutes old The selected snapshot from the portfolio cache is no more than 15 minutes old. This public request does not query IBKR directly. |
| STALE | Last valid CPAPI snapshot, or a snapshot from the portfolio cache older than 15 minutes The selected snapshot is either the last-valid CPAPI cache or a snapshot from the portfolio cache older than 15 minutes. It is cached data. |
| FALLBACK | Snapshot from the IBKR Flex statement The selected current portfolio snapshot comes from the cached IBKR Flex shadow tier. The historical NAV curve is read separately from the equity-history store. |
| SHADOW | IBKR_DATA_PROVIDER = shadow (diagnostics; not emitted by public-summary) CPAPI remains primary while Flex runs as an internal parity check. |
The export contains the daily NAV values and their day-to-day changes, plus the overall current-snapshot state and update time. The return and risk formulas above use the broker's TWR report, not this export. The trade export contains the public fields of recent trades.
The figures described here relate solely to the founder's personal trading account. Past performance is not a reliable indicator of future results. This page does not constitute investment advice, an investment recommendation, an offer, or a solicitation to buy or sell any financial instrument. Trading financial instruments involves substantial risk, up to and including total loss of capital; individual results may differ materially. Vaapad Capital is not a licensed investment firm and does not provide portfolio management. Full disclaimer.