Below are some of the most frequently asked questions regarding Zephyr. If there is a question not listed here that you would like to see please use our Suggestions page to submit it.

Setup and Technical Issues

• Can Zephyr be installed on a network, and if so how? What are the advantages and disadvantages of this?
• Can I share my custom data with other users in my office?

Data Updates

• How do I update my data?
• When are data updates available?
• Which data updates should I run?
• Why doesn't my password for PSN work?
• What if I can't download .exe's?
• How do you come up with passwords?

Importing Data

• How do I import returns for a manager/index?
• When I import from Excel, how should I format the returns?
• I got a new computer. Where did my Create Zephyr Return Files go?

StyleADVISOR

Style Analysis

• What is a style benchmark?
• What is returns-based style analysis?
• What if my value manager is performing well in a growth market? Will returns-based style analysis classify that manager as a growth manager?
• What is the difference between returns-based style analysis and holdings-based style analysis?

Error Messages

• What does the license expired message mean?
• What does the invalid license message mean?

Creating and Updating an analysis

• How do I get my workbooks to update automatically?
• Why won't my workbook allow me to choose the most recent date?
• How do I create blends of managers or indexes?
• How do I create custom peer groups?
• Why don't some of my graphs change when I change the analysis parameters?
• How do I create a custom page?
• Why doesn't your Alpha number match my excess return?
• Why doesn't your Alpha number match another source?

Exporting Data and Charts

• Exporting, how do I export returns to Excel?
• How do I export charts to PowerPoint or Word?
• I want to see the underlying results of the Custom Axis graph, how can I do this?

Chart Editing

• How do I use annotations?
• How do I get rid of the Zephyr StyleADVISOR title at the top of the page?

Peer Group Analysis

• How do I get statistics for a universe median?
• How do I change the time periods displayed on the Manager vs. Benchmark, Manager vs. Universe and Calendar Year Return Charts?
• How do I create a universe composite?
• Why is my peer group not showing up?

AllocationADVISOR

Asset Allocation

• What is the efficient frontier?
• What is mean-variance optimization?
• What is Monte Carlo simulation?

Black-Litterman

• What should I input for palette risk premium?
• Should one use short term cash rates for the risk free rate? Does this depend on the time horizon?
• Why does Black-Litterman use equilibrium return forecasts but historical standard deviations and correlations?

Error Messages

• My StyleADVISOR works so why is my AllocationADVISOR license expired?

Creating and Updating an Analysis

• How do I apply a template to my new analysis definitions?

Exporting Graphics

PowerPRESENTER

• Where do I find PowerPRESENTER?
• How can I export a whole workbook to PowerPoint quickly?