Triple for a day is not triple for the whole period

ASSETCASTING commentary

A hypothetical index starting at 100 rises 10% in a day to 110 and then falls 10% the next day to 99. Assuming a product follows exactly 3 times each daily move, excluding costs and tracking differences, it rises from 100 to 130 and then falls 30% to 91 over the same period. This differs from simply multiplying the index's period loss of 1% by 3. It illustrates daily resetting and compounding, not an actual product return or a prediction for every price path.