Understanding cumulative TTWROR


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.

Thanks in advance

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.


Thanks so much Chirlu. Now that you have pointed it, it is so simple!