Geometrically linked TWR
A process by which sub-period returns are averaged to arrive at a period's rate of return. The linking formula is: (1 + S1) x (1 + S2) x ... (1 + Sn) - 1, S1 - is the first sub-period return , S2 - is the second sub-period return , and Sn - is the last sub-period return.