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Aug 2, 2024 at 13:59 comment added mark leeds Yeah, I always think of the term that is being subtracted as also being the term in the denominator so it's not intuitive to me but I see what you're doing. No problem. Different strokes for different folks.
Aug 2, 2024 at 12:10 vote accept user2991243
Aug 2, 2024 at 12:10 vote accept user2991243
Aug 2, 2024 at 12:10
Aug 2, 2024 at 6:31 comment added KaiSqDist @markleeds not sure what you mean by anchor of $P_2$. The way I understand it is because $1$ comes before $2$ in terms of time, the denominator should always be $P_1$, so it makes perfect sense to me. The numerator itself is intuitive though.
Aug 2, 2024 at 3:58 comment added mark leeds KaiSqDist: That's interesting but also possibly confusing because, in the first equation, you're using an anchor of $P_{2}$ but then dividing by $P_{1}$. My brain can't handle that !!!!!!! phdstudent's method is more like back in the day when they told you that subtraction was like adding a negative. That works better for me.
Aug 2, 2024 at 1:11 comment added KaiSqDist I fully agree on the note about the log return on a long positions being just the negative of the short. Another way people tend to represent returns on short positions is $(P_1-P_2)/P_1$ vs that of a long position that is the normal returns formula of $(P_2-P_1)/P_1$, which is why applying a negative sign on the log returns makes sense.
Aug 1, 2024 at 19:04 history answered phdstudent CC BY-SA 4.0