.

Professionally Compare the Sharpe ratio and the Treynor Ratio (300 words per subheading, please use references) a) When are they respectively used by managers? To measure what? b) Provide their formulas and demonstrate how are their calculations is done with a numerical example for each c) What are their respective advantages and disadvantages? d) What are the main comparison points between the two? e) When should one ratio be favoured over the other