RT Journal Article SR Electronic T1 Sharpe Timing Ratio JF The Journal of Investing FD Institutional Investor Journals SP 75 OP 79 DO 10.3905/joi.2005.605285 VO 14 IS 4 A1 Mao-Wei Hung A1 Yin-Ching Jan YR 2005 UL https://pm-research.com/content/14/4/75.abstract AB Many researchers have advocated measuring market timing performance by measuring the extent to which fund realized investment weight-shift is consistent with the realized asset return. However, the weight-shift approach ignores the market timing risk, which comes from the variation in market return. This article proposes a new measure, the Sharpe timing ratio, which incorporates the market timing risk into the measurement of market timing performance. Using an example, the authors demonstrate that compared with the weight-shift approach, the Sharpe timing ratio yields results that are more consistent with market realities in timing-risk scenarios