Portfolio & Investing Fundamentals
What the Sharpe ratio measures, how to read it, the Sortino and information ratios, and why illiquid assets like art need de-smoothed, selection-corrected numbers.
Masterworks Research · Jul 16, 2026 · 18 min
Data and Research
Owners resell winners and hold losers, so published art returns skew high. Correcting for it cut measured art returns from 8.7% to 6.3% a year in one study.
Masterworks Research · Jul 2, 2026 · 12 min
Art as an Investment
How fine art and venture capital compare on return shape, volatility, correlation, illiquidity, and Sharpe ratio, with 2024-2025 data for HNW portfolio construction.
Masterworks Research · Jun 10, 2026 · 9 min