Take for example SD=16%, Threshold level being 2% and Expected return = 14%.

The SFRatio is 0.75 (14-2/16). Cannot understand why (conceptually) do I need to take z value of (-0.75) to get the probability.

Take for example SD=16%, Threshold level being 2% and Expected return = 14%.

The SFRatio is 0.75 (14-2/16). Cannot understand why (conceptually) do I need to take z value of (-0.75) to get the probability.