361 U.S. Small Cap Equity Volatility Statistics

Detailed Composite Information

Standard Deviation:  A measure of the dispersion of a set of data from its mean. The more spread apart the data, the higher the deviation.  Return:  The gain or loss of a strategy in a particular period. The return consists of the income and the capital gains relative on an investment.   Sharpe Ratio:  A measure for calculating risk-adjusted return, the ratio is the average return earned in excess of the risk-free rate per unit of volatility or total risk.  Sortino Ratio:  A modification of the Sharpe ratio that differentiates harmful volatility from general volatility by taking into account the standard deviation of negative asset returns, called downside deviation.  Arithmetic Mean:  A mathematical representation of the typical value of a series of numbers, computed as the sum of all the numbers in the series divided by the count of all numbers in the series.  Arithmetic mean is commonly referred to as “average” or simply as “mean”.  Skewness:  Describe asymmetry from the normal distribution in a set of statistical data. Skewness can come in the form of “negative skewness” or “positive skewness”, depending on whether data points are skewed to the left (negative skew) or to the right (positive skew) of the data average.  Kurtosis:  A statistical measure used to describe the distribution of observed data around the mean. It is sometimes referred to as the “volatility of volatility.”  Currency: United States Dollar.  Source: © 2015, Investopedia, LLC. All Rights Reserved

Performance is stated net of fees. Returns assume the reinvestment of all dividends and income. Please refer to the Performance Presentation Disclosures for important information on performance results. Past performance does not guarantee future results. 361 Capital claims compliance with the Global Investment Performance Standards (GIPS®) and has prepared and presented this report in compliance with the GIPS® standards. 361 Capital has been independently verified for the periods May 23, 2005 through December 31, 2015. Verification assesses whether (1) the firm has complied with all the composite construction requirements of the GIPS® standards on a firm-wide basis and (2) the firm’s policies and procedures are designed to calculate and present performance in compliance with the GIPS® standards.

Past performance is no guarantee of future results. There is no guarantee that this or any investment strategy will succeed; the strategy is not an indicator of future performance; and investment results may vary.

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