Question: Over the past 6 months, you observe the following monthly returns for an actively managed small cap mutual fund and for the benchmark small cap index:
| Time |
Fund return (%) |
Index return (%) |
| 1 |
1.35 |
1.71 |
| 2 |
2.75 |
2.20 |
| 3 |
-1.11 |
-1.78 |
| 4 |
-0.35 |
-0.29 |
| 5 |
1.80 |
1.96 |
| 6 |
-2.04 |
-2.49 |
What is the information ratio for the fund over this period?