I am trying to understand the TTWROR (cumulative) calculation for a particular stock. I am unable to arrive at the calculation (-3.47%) when an additional purchase is made. Would be grateful if anyone could guide me here.
Just multiply. E.g., 0.9835 (which is 1–(1,65/100)) times 0.9968 (which is 1–(0.32/100)) is 0.9804 (which is 1–(1,96/100)). Next, 0.9804 times 1.0228 is 1.0027. And so on.
Beware of rounding issues. The calculation is done with more digits than shown.
