Welcome to the PnL Explained Professionals Home Page!
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New for September 2020
1) *NEW* Content and original materials from my NYU Intro to Statistics class
2) *NEW* layout, enhanced to organize content into three areas:
A) PnL Explained. Covering MTM, PnL, greeks, Risk, Stress Tests, VaR. This is the original content that you know and love from this site.
B) CTRM = Commodities Trading & Risk Management
C) Statistics – Useful content on Probability and Statistics
a) Educate the world about PnL explained reporting (a.k.a. PnL Explain/PnL Attribution/P&L Explained/P&L Attribution/Profit and Loss Explained)
b) Provide a forum for PnL Explained Professionals to share information and help them meet their professional goals.
c) Provide credentials to professionals to help demonstrate that they have reached a minimum level of proficiency in PnL explained reporting.
Res Non Ipsa Loquitur
Profit and/or Loss (PnL) Explained also called P&L Attribution is a type of report commonly used by traders, especially derivatives (swaps and options) traders, that attributes or explains the daily fluctuation in the value of a portfolio of trades to the root causes of the changes. PnL is usually defined as value today minus value from prior day. PnL Explained is defined at a high level as
or in more detail:
This website last updated September 2020