They offer the following ways of parsing the index data. Which do I want to use to generate the standard annualized returns? Annual - Percent Change?

thanks.

Change

x(t) - x(t-1)

Change from Year Ago

x(t) - x(t-n_obs_per_yr)

Percent Change

((x(t)/x(t-1)) - 1) * 100

Percent Change from Year Ago

((x(t)/x(t-n_obs_per_yr)) - 1) * 100

Compounded Annual Rate of Change

(((x(t)/x(t-1)) ** (n_obs_per_yr)) - 1) * 100

Continuously Compounded Rate of Change

(ln(x(t)) - ln(x(t-1))) * 100

Continuously Compounded Annual Rate of Change

((ln(x(t)) - ln(x(t-1))) * 100) * n_obs_per_yr

Natural Log

ln(x(t))