It was designed to replace MPT 's Sharpe ratio as a measure of risk - adjusted return .
The Sortino ratio , developed by Rom 's company , Investment Technologies , was the first new element in the PMPT rubric .
PMPT was designed to replace MPT 's Sharpe ratio as a measure of risk - adjusted return .
The Sortino ratio , developed by Rom 's company , Investment Technologies , was the first new element in the PMPT rubric .