The Omega chart is way of partitioning returns into loss and gain above and below a return threshold and then considering the probability weighted ratio of returns above and below the partitioning.

Omega in a nutshell measures probability of making an excess return over a threshold amount.

The chart can be manipulated by changing the following:

Period

Choose the period you want to analyse, you can choose between 3 months, 6 months, 1 year and a number of other options up to 10 years.

Return Periods

You can choose to have weekly or daily returns periods.

Note: The higher the Omega historically, the better.