import { TrackingErrorOptions } from '../schemas/TrackingErrorOptionsSchema';
import { TrackingErrorResult } from '../schemas/TrackingErrorResultSchema';
/**
 * Calculate Tracking Error
 *
 * Tracking Error measures the standard deviation of excess returns (portfolio return - benchmark return).
 * It quantifies how much a portfolio's returns deviate from its benchmark over time.
 *
 * Formula:
 * - Excess Returns: r_excess = r_portfolio - r_benchmark
 * - Tracking Error: TE = √(Σ(r_excess - μ_excess)² / (n-1)) * √(annualization_factor)
 *
 * Where:
 * - μ_excess = mean of excess returns
 * - n = number of periods
 *
 * @param options - Portfolio returns, benchmark returns, and calculation parameters
 * @returns Tracking error result with period and annualized values
 *
 * @example
 * ```typescript
 * const trackingError = calculateTrackingError({
 *   portfolioReturns: [0.05, 0.03, 0.07, 0.02],
 *   benchmarkReturns: [0.04, 0.03, 0.06, 0.02],
 *   annualizationFactor: 252
 * });
 * ```
 */
export declare function calculateTrackingError(options: TrackingErrorOptions): TrackingErrorResult;