"It raises the question of what is the relevant benchmark?" Mr. Marshall said.
To someone making a few million dollars a year, these very rich — rather than the median-earning American — are often the relevant benchmark.
"The relevant benchmark is the percentage of children among all local children of secondary school age who are eligible for free school meals, not just those at state schools, and by that measure we're spot on," he said.
For each metric we select the relevant benchmark to test the appropriate feature.
A total yearly return of -5% in which the relevant benchmark was down 8% actually showed a much better performance by the manager than a 5% return in a year where the appropriate benchmark returned 7%.
One of the relevant benchmark problems in pressure-driven flows, that of flow through an axisymmetric expansion contraction geometry, is addressed in this study.
For most types of bond funds we look at performance over a five-year period and treat each month as either bullish or bearish, depending on the performance of the relevant benchmark.
The obtained performance results show that the developed DVC solution fulfils the objectives regarding relevant benchmarks, notably due to the novel side information creation and correlation noise modeling tools integrated in a side information iterative refinement framework.
The results were compared to those obtained using unmodified Ru black and Pt black at the DMFC cathode, in order to gain insight into the catalyst function and to compare the performance to relevant benchmarks.
