I am struggling with information ratio concepts: I looked at the tabular example in the video and understood most of it with the exception of Information ratio. Could you please share the calculation details for both approaches - alpha and active return?

- When Tracking error is not given, what did you consider as the benchmark?

- For calculating vol(portfolio return - benchmark return), should I use the var(A-B) formula and compute the results?

- What is the basic difference in both - alpha and active return - approaches (sorry, might be a very basic question)?

Please help!

Thanks much,