> For the complete documentation index, see [llms.txt](https://docs.syncrone.fi/llms.txt). Markdown versions of documentation pages are available by appending `.md` to page URLs; this page is available as [Markdown](https://docs.syncrone.fi/core-concepts/nav-and-pnl.md).

# NAV & PnL

**Net Asset Value (NAV)** is the cornerstone of all performance metrics in Syncrone. It represents the **total market value** of all tokens, positions, and rewards across tracked wallets and chains, expressed in USD.

**Profit and Loss (PnL)** represents the variation in portfolio value relative to invested capital. Syncrone distinguishes between:

* **Realized PnL** — actual gains or losses from closed or withdrawn positions.
* **Unrealized PnL** — current market appreciation or depreciation of open positions.

PnL is computed at each snapshot and compared to previous blocks to derive time-based performance metrics. This allows Syncrone to provide **daily, cumulative, and block-level PnL evolution** per position, wallet, or protocol.

**ROI (Return on Investment)** and **APR/APY** are derived metrics built from PnL and invested capital, adjusted by time horizon.