> For the complete documentation index, see [llms.txt](https://excelhelp.windhamlabs.com/llms.txt). Markdown versions of documentation pages are available by appending `.md` to page URLs; this page is available as [Markdown](https://excelhelp.windhamlabs.com/functions/return-models.md).

# Return Models

- [CAPM](https://excelhelp.windhamlabs.com/functions/return-models/capm.md): Estimate expected returns using the Capital Asset Pricing Model. This is also known as the Equilibrium Returns.
- [DESMOOTHRETURNS](https://excelhelp.windhamlabs.com/functions/return-models/desmoothreturns.md): Desmooth time series returns using a first-order autoregressive model.
- [IMPLIEDRETURNS](https://excelhelp.windhamlabs.com/functions/return-models/impliedreturns.md): Calculate implied expected returns of your assets / instruments.
- [MLERETURNS](https://excelhelp.windhamlabs.com/functions/return-models/mlereturns.md): Estimate expected returns for assets with incomplete historical data (unequal lengths) with a maximum likelihood estimator.