The Sharpe, Treynor and Jensen portfolio performance measures are derived from the

CAPM,

(a) therefore, it doesnt matter which measure is used to evaluate a portfolio manager

(b) therefore, all measure the same attribute

(c) therefore, it doesnt matter which measure is used to evaluate a portfolio manager.

However, Sharpe and Treynor measures use different risk measures so the

measures vary as to whether theyre appropriate or not, depending on the

investment scenario

(d) however, the Sharpe and Treynor measures use different risk measures. Thus, the

measures vary as to whether or not they are appropriate, depending on the

investment scenario.