ss 17 TWR

For TWR calculations, do we need to adjust for the days the cash flow was (in/out) ??


Let me rephrase it- in the formula- MV1-MVo/MVo, do we need to multiply by number of days for that period?? e.g. Suppose we had a cash flow occurring on 17th day, say 20,000. Mv1 was 125,000 and mvo was 100,000. We are calculating TWR for a month. TWR calc: 125,000-20000/100000 = Do we need to multiply that by 17/30 here or not ???

I think it should be (30-17) / 30 therefore, (125000 - 100000 - 20000)/ (100000 - 13/30*20000)

Why does this look like another language to me?