Adirondack Small-Cap Fund (ticker ADKSX). Use the return information in Table 1 below to evaluate the performance of ADKSX since 1 January 2016. Using the data provided, in an easy-to-find location, calculate the following portfolio metrics for the actively managed mutual fund: (i) Average return (annualized); (ii) Standard deviation of returns (annualized); (iii) Sharpe ratio (assuming annualized R_f = 1.0%); (iv) Sortino ratio; (v) Information ratio; (vi) Beta; (vii) Alpha (annualized), and (viii) Maximum drawdown. Display the results and in a nearby text box briefly list conclusions about whether the fund outperformed or underperformed. WIll rate if answer is correct

Date	ADKSX	Russell 2000 Index
5/2/2017	-0.09%	-0.57%
5/1/2017	0.09%	0.49%
4/28/2017	-0.44%	-1.18%
4/27/2017	-0.22%	-0.16%
4/26/2017	0.48%	0.59%
4/25/2017	0.66%	0.94%
4/24/2017	1.12%	1.31%
4/21/2017	-0.80%	-0.31%
4/20/2017	1.35%	1.24%
4/19/2017	0.36%	0.38%
4/18/2017	-0.14%	0.05%
4/17/2017	0.95%	1.18%
4/13/2017	-0.72%	-1.03%
4/12/2017	-0.98%	-1.29%
4/11/2017	0.54%	0.72%
4/10/2017	0.59%	0.19%
4/7/2017	-0.18%	0.01%
4/6/2017	1.14%	0.91%
4/5/2017	-1.17%	-1.17%
4/4/2017	-0.58%	-0.11%
4/3/2017	-1.28%	-1.17%
3/31/2017	0.40%	0.26%
3/30/2017	0.58%	0.78%
3/29/2017	0.49%	0.32%
3/28/2017	0.72%	0.73%
3/27/2017	0.55%	0.20%
3/24/2017	-0.09%	0.09%
3/23/2017	0.41%	0.58%
3/22/2017	-0.63%	-0.07%
3/21/2017	-1.95%	-2.71%
3/20/2017	-0.44%	-0.53%
3/17/2017	0.40%	0.40%
3/16/2017	0.49%	0.23%
3/15/2017	2.38%	1.50%
3/14/2017	-0.77%	-0.58%
3/13/2017	0.05%	0.37%
3/10/2017	0.41%	0.38%
3/9/2017	-0.36%	-0.43%
3/8/2017	-0.63%	-0.63%
3/7/2017	-0.72%	-0.69%
3/6/2017	-0.27%	-0.71%
3/3/2017	-0.75%	-0.11%
3/2/2017	-0.70%	-1.27%
3/1/2017	1.56%	1.94%
2/28/2017	-1.89%	-1.51%
2/27/2017	0.53%	0.96%
2/24/2017	-0.09%	-0.01%
2/23/2017	-0.53%	-0.66%
2/22/2017	-0.22%	-0.46%
2/21/2017	0.70%	0.75%
2/17/2017	0.22%	0.05%
2/16/2017	-0.74%	-0.36%
2/15/2017	0.00%	0.54%
2/14/2017	0.22%	0.31%
2/13/2017	0.26%	0.25%
2/10/2017	0.49%	0.75%
2/9/2017	0.89%	1.46%
2/8/2017	-0.04%	-0.17%
2/7/2017	-0.58%	-0.41%
2/6/2017	-0.49%	-0.81%
2/3/2017	0.94%	1.50%
2/2/2017	-0.09%	-0.28%
2/1/2017	0.00%	-0.04%
1/31/2017	0.45%	0.70%
1/30/2017	-0.75%	-1.34%
1/27/2017	-0.22%	-0.36%
1/26/2017	-0.70%	-0.49%
1/25/2017	0.62%	0.97%
1/24/2017	1.21%	1.59%
1/23/2017	-0.27%	-0.30%
1/20/2017	0.22%	0.45%
1/19/2017	-0.71%	-0.94%
1/18/2017	0.00%	0.46%
1/17/2017	-0.79%	-1.44%
1/13/2017	0.80%	0.81%
1/12/2017	-1.53%	-0.89%
1/11/2017	0.62%	0.18%
1/10/2017	1.65%	0.99%
1/9/2017	-1.24%	-0.72%
1/6/2017	-0.31%	-0.34%
1/5/2017	-1.13%	-1.15%
1/4/2017	1.73%	1.64%
1/3/2017	1.35%	0.62%
12/30/2016	-0.49%	-0.44%
12/29/2016	0.13%	0.17%
12/28/2016	-1.28%	-1.23%
12/27/2016	0.40%	0.45%
12/23/2016	0.36%	0.65%
12/22/2016	-0.88%	-0.91%
12/21/2016	-0.40%	-0.63%
12/20/2016	0.73%	0.90%
12/19/2016	0.52%	0.53%
12/16/2016	0.00%	-0.15%
12/15/2016	0.30%	0.77%
12/14/2016	-1.20%	-1.27%
12/13/2016	0.09%	0.03%
12/12/2016	-0.93%	-1.08%
12/9/2016	0.00%	0.12%
12/8/2016	1.42%	1.60%
12/7/2016	0.87%	0.88%
12/6/2016	1.23%	1.11%
12/5/2016	1.83%	1.79%
12/2/2016	-0.09%	0.03%
12/1/2016	-0.27%	-0.65%
11/30/2016	-0.09%	-0.44%
11/29/2016	-0.04%	-0.12%
11/28/2016	-0.71%	-1.29%
11/25/2016	0.31%	0.38%
11/23/2016	0.36%	0.58%
11/22/2016	0.63%	0.92%
11/21/2016	0.63%	0.50%
11/18/2016	0.27%	0.47%
11/17/2016	0.68%	0.56%
11/16/2016	0.18%	0.00%
11/15/2016	0.60%	0.27%
11/14/2016	1.11%	1.26%
11/11/2016	2.37%	2.46%
11/10/2016	1.44%	1.58%
11/9/2016	2.41%	3.10%
11/8/2016	0.59%	0.24%
11/7/2016	1.82%	2.48%
11/4/2016	-0.70%	0.57%
11/3/2016	-0.40%	-0.48%
11/2/2016	-0.64%	-1.31%
11/1/2016	-0.88%	-1.13%
10/31/2016	-0.20%	0.32%
10/28/2016	-0.20%	-0.20%
10/27/2016	-1.54%	-1.23%
10/26/2016	0.19%	-0.93%
10/25/2016	-1.00%	-0.84%
10/24/2016	0.48%	0.69%
10/21/2016	-0.24%	-0.14%
10/20/2016	-0.52%	-0.23%
10/19/2016	0.72%	0.44%
10/18/2016	0.53%	0.59%
10/17/2016	-0.29%	-0.19%
10/14/2016	0.00%	-0.27%
10/13/2016	-1.09%	-0.94%
10/12/2016	0.19%	-0.03%
10/11/2016	-1.64%	-1.85%
10/10/2016	1.23%	1.15%
10/7/2016	-0.52%	-0.78%
10/6/2016	-0.24%	-0.17%
10/5/2016	1.14%	0.69%
10/4/2016	-0.85%	-0.48%
10/3/2016	-0.24%	-0.47%
9/30/2016	1.05%	1.12%
9/29/2016	-1.18%	-1.43%
9/28/2016	1.19%	0.75%
9/27/2016	0.48%	0.44%
9/26/2016	-0.85%	-1.09%
9/23/2016	-0.47%	-0.70%
9/22/2016	1.58%	1.48%
9/21/2016	1.26%	1.36%
9/20/2016	-0.96%	-0.34%
9/19/2016	0.19%	0.63%
9/16/2016	-0.34%	-0.18%
9/15/2016	1.41%	1.27%
9/14/2016	-0.19%	-0.06%
9/13/2016	-1.48%	-1.91%
9/12/2016	1.31%	1.37%
9/9/2016	-2.83%	-3.11%
9/8/2016	0.33%	-0.21%
9/7/2016	0.71%	0.61%
9/6/2016	-0.14%	0.12%
9/2/2016	1.06%	0.97%
9/1/2016	-0.24%	-0.01%
8/31/2016	-0.38%	-0.49%
8/30/2016	0.14%	0.09%
8/29/2016	0.67%	0.56%
8/26/2016	-0.05%	-0.16%
8/25/2016	0.29%	0.22%
8/24/2016	-0.67%	-0.91%
8/23/2016	0.53%	0.71%
8/22/2016	-0.19%	0.24%
8/19/2016	-0.10%	-0.01%
8/18/2016	0.82%	0.75%
8/17/2016	-0.48%	-0.28%
8/16/2016	-0.62%	-0.86%
8/15/2016	1.26%	0.98%
8/12/2016	-0.05%	0.06%
8/11/2016	0.68%	0.48%
8/10/2016	-0.58%	-0.69%
8/9/2016	0.10%	0.11%
8/8/2016	0.05%	-0.07%
8/5/2016	1.43%	1.45%
8/4/2016	0.05%	0.08%
8/3/2016	1.30%	0.86%
8/2/2016	-1.38%	-1.38%
8/1/2016	-0.44%	-0.07%
7/29/2016	0.10%	0.21%
7/28/2016	-0.25%	-0.13%
7/27/2016	0.20%	0.17%
7/26/2016	0.94%	0.58%
7/25/2016	0.15%	-0.25%
7/22/2016	0.65%	0.75%
7/21/2016	-0.40%	-0.49%
7/20/2016	0.50%	0.77%
7/19/2016	-0.45%	-0.62%
7/18/2016	0.50%	0.22%
7/15/2016	0.30%	0.26%
7/14/2016	0.40%	0.08%
7/13/2016	-0.50%	-0.39%
7/12/2016	1.48%	1.33%
7/11/2016	0.98%	1.08%
7/8/2016	2.21%	2.40%
7/7/2016	0.53%	0.21%
7/6/2016	0.48%	0.69%
7/5/2016	-1.87%	-1.50%
7/1/2016	0.73%	0.42%
6/30/2016	1.38%	1.79%
6/29/2016	1.51%	2.20%
6/28/2016	1.59%	1.62%
6/27/2016	-3.80%	-3.36%
6/24/2016	-3.76%	-3.81%
6/23/2016	1.65%	2.02%
6/22/2016	-0.21%	-0.42%
6/21/2016	-0.15%	-0.33%
6/20/2016	1.09%	1.14%
6/17/2016	0.42%	-0.30%
6/16/2016	-0.05%	-0.10%
6/15/2016	0.58%	0.13%
6/14/2016	0.05%	-0.25%
6/13/2016	-1.35%	-1.14%
6/10/2016	-1.63%	-1.46%
6/9/2016	-0.61%	-0.65%
6/8/2016	0.51%	0.76%
6/7/2016	0.31%	0.26%
6/6/2016	0.88%	1.09%
6/3/2016	-0.41%	-0.55%
6/2/2016	0.21%	0.65%
6/1/2016	0.78%	0.71%
5/31/2016	0.16%	0.38%
5/27/2016	0.68%	0.94%
5/26/2016	-0.16%	-0.11%
5/25/2016	0.68%	0.50%
5/24/2016	1.60%	2.15%
5/23/2016	0.21%	-0.08%
5/20/2016	1.52%	1.60%
5/19/2016	-1.07%	-0.74%
5/18/2016	0.38%	0.48%
5/17/2016	-1.17%	-1.66%
5/16/2016	0.54%	1.25%
5/13/2016	-0.59%	-0.56%
5/12/2016	-0.69%	-0.55%
5/11/2016	-0.79%	-1.25%
5/10/2016	0.63%	0.95%
5/9/2016	-0.16%	0.32%
5/6/2016	0.48%	0.61%
5/5/2016	-0.47%	-0.47%
5/4/2016	-0.32%	-0.77%
5/3/2016	-1.04%	-1.68%
5/2/2016	0.16%	0.89%
4/29/2016	-0.47%	-0.84%
4/28/2016	-1.23%	-1.19%
4/27/2016	0.31%	0.30%
4/26/2016	1.35%	1.11%
4/25/2016	-0.47%	-0.75%
4/22/2016	0.73%	0.96%
4/21/2016	-0.67%	-0.57%
4/20/2016	-0.10%	0.18%
4/19/2016	0.52%	0.08%
4/18/2016	0.52%	0.74%
4/15/2016	0.26%	0.21%
4/14/2016	-0.42%	-0.12%
4/13/2016	1.70%	2.19%
4/12/2016	0.80%	1.04%
4/11/2016	0.00%	-0.27%
4/8/2016	-0.05%	0.41%
4/7/2016	-1.11%	-1.44%
4/6/2016	0.75%	1.18%
4/5/2016	-0.69%	-1.14%
4/4/2016	-0.89%	-0.82%
4/1/2016	0.05%	0.33%
3/31/2016	0.05%	0.32%
3/30/2016	0.26%	0.12%
3/29/2016	1.71%	2.67%
3/28/2016	0.27%	0.06%
3/24/2016	0.11%	0.36%
3/23/2016	-1.74%	-1.97%
3/22/2016	-0.63%	-0.11%
3/21/2016	-0.16%	-0.28%
3/18/2016	0.37%	0.95%
3/17/2016	1.06%	1.56%
3/16/2016	0.64%	0.73%
3/15/2016	-1.16%	-1.62%
3/14/2016	-0.58%	-0.30%
3/11/2016	1.39%	2.22%
3/10/2016	-0.42%	-0.82%
3/9/2016	0.69%	0.46%
3/8/2016	-2.04%	-2.40%
3/7/2016	1.11%	1.13%
3/4/2016	0.16%	0.55%
3/3/2016	0.91%	0.97%
3/2/2016	0.92%	1.06%
3/1/2016	1.48%	1.99%
2/29/2016	0.61%	-0.32%
2/26/2016	0.95%	0.54%
2/25/2016	0.79%	0.93%
2/24/2016	0.85%	0.98%
2/23/2016	-0.23%	-0.94%
2/22/2016	0.68%	1.16%
2/19/2016	-0.06%	0.53%
2/18/2016	-0.45%	-0.63%
2/17/2016	1.20%	1.54%
2/16/2016	1.69%	2.45%
2/12/2016	1.60%	1.92%
2/11/2016	-0.76%	-1.01%
2/10/2016	0.06%	-0.04%
2/9/2016	-1.10%	-0.56%
2/8/2016	-1.09%	-1.65%
2/5/2016	-1.91%	-2.87%
2/4/2016	0.85%	0.44%
2/3/2016	0.46%	0.14%
2/2/2016	-1.85%	-2.28%
2/1/2016	-0.56%	-0.29%
1/29/2016	3.34%	3.20%
1/28/2016	0.29%	0.05%
1/27/2016	-0.69%	-1.50%
1/26/2016	2.17%	2.07%
1/25/2016	-2.29%	-2.28%
1/22/2016	2.28%	2.34%
1/21/2016	0.41%	-0.20%
1/20/2016	0.12%	0.45%
1/19/2016	-1.56%	-1.28%
1/15/2016	-1.54%	-1.75%
1/14/2016	1.15%	1.53%
1/13/2016	-2.47%	-3.30%
1/12/2016	-0.06%	0.27%
1/11/2016	-0.67%	-0.41%
1/8/2016	-1.65%	-1.73%
1/7/2016	-2.83%	-2.72%
1/6/2016	-1.21%	-1.45%
1/5/2016	-0.47%	0.16%