Methodology

Transparency at every calculation step

Traceable, deterministic and honest. This is how Investboard works.

Investboard discloses how calculations are performed, where data comes from and which assumptions are made. Every figure is traceable: no black boxes, no hidden models.

01

Portfolio analysis

Portfolio analysis follows a structured process that runs automatically and deterministically.

Data import & aggregation

CSV import: transaction data from common banks and brokers is read in and normalised

Position aggregation: individual transactions are consolidated into positions (FIFO principle)

Automatic detection: currency, asset class, and ISIN are assigned automatically on import

Duplicate detection: already-imported transactions are recognised and not recorded twice

Allocation calculation

The actual allocation is based on the current market value of all positions
Categorisation by asset class, region, sector, and currency
Weighting relative to the total portfolio value
Overlaps between ETFs are taken into account (look-through)

Performance tracking

Time-weighted return (TWR) to compare investment quality independently of inflows and outflows
Money-weighted return (MWR) for the actual investor experience, accounting for timing effects
Benchmark comparison against freely selectable indices
Dividends, distributions, and costs are taken into account

02

Tax calculation

The tax calculation models the German tax waterfall for capital income in detail:

1

Gross capital income

Dividends, realised capital gains, advance lump sums (Vorabpauschale)

2

Saver's allowance (Sparerpauschbetrag)

EUR 1,000 (individual) or EUR 2,000 (joint filing) is deducted

3

Partial exemption (Teilfreistellung)

Depending on fund type: 30% (equity funds), 15% (mixed funds), 60% (real-estate funds), 80% (foreign real-estate funds)

4

Flat capital-gains tax (Abgeltungsteuer)

25% on the remaining taxable amount

03

Data sources

Investboard sources market data from professional, regulated data providers:

Price data

Twelve Data: real-time and historical prices
Update frequency: daily (end-of-day) plus intraday
Coverage: stocks, ETFs, funds, bonds
Fallback on data outages: last known price, clearly flagged

Fundamental data

04

Rebalancing & optimisation

Rebalancing recommendations are calculated algorithmically based on the target allocation:

Drift detection

Drift measures how far the current allocation deviates from the target allocation. Investboard calculates the absolute and relative drift for each asset class and position.

Absolute drift: the difference in percentage points between actual and target
Relative drift: the percentage deviation from the target weight
Configurable thresholds: when a rebalancing suggestion is triggered

Optimisation algorithm

05

Use of AI

Investboard uses artificial intelligence deliberately and transparently. Its use follows clear principles:

What AI is used for

Explanation: presenting metrics and portfolio performance clearly
Pattern detection: identifying anomalies in allocation or costs
Summary: a daily briefing and portfolio overview
Conversation: answering questions about your own portfolio

What AI is not used for

06

Limits & transparency

Investboard communicates clearly what the platform does and does not do. Honesty about its own limits is part of the product promise.

No investment advice

Investboard is an analysis tool. The platform does not provide individual investment advice within the meaning of the WpHG (the German Securities Trading Act). All information is for illustration only.

No trade execution

Investboard does not carry out securities transactions and is not connected to custodian banks or brokers. Strategy and analysis, not execution.

No future forecasts

The standard

Strategy, not trading. Clarity, not noise.

See the methodology

Transparent calculations, traceable methods. See it in the product.

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5

Solidarity surcharge (Solidaritätszuschlag)

5.5% on the Abgeltungsteuer

6

Church tax (optional)

8% or 9% on the Abgeltungsteuer, depending on the federal state

Tax rates are based on applicable German tax law (EStG §20, InvStG). Investboard does not provide tax advice. The calculation is for illustration and does not replace individual tax review.

Financial Modeling Prep: company metrics, ETF holdings

Update frequency: daily

Quality control: automatic plausibility checks

History: changes are stored with versioning

Data quality is monitored continuously. The user is informed of discrepancies or missing data points.

Calculation of the required buy/sell amounts per position

Minimising the number of transactions for a given budget

Tax effects are accounted for: realising gains is made transparent

Cash-flow-optimised: favouring additional purchases over sales where possible

What rebalancing is not

Investboard calculates recommendations but does not execute any transactions. The decision always rests with the user. Rebalancing suggestions are not investment advice, but a mathematical tool for adhering to your own defined strategy.

No predictions: no price or return forecasts
No decisions: AI makes no investment decisions
No guarantees: statements are phrased as context, not certainty
No autonomous action: no automated transactions

Model & security

Language model: Claude (Anthropic), with no access to external systems or the internet
Context: the AI receives only the portfolio data of the individual user, never another user's data
Phrasing: answers deliberately use formulations such as 'Based on the available data...' or 'One possible interpretation is...'
Human in the loop: every AI-generated recommendation requires an active user decision
No training data: user data is not used to train AI models

The platform analyses historical and current data but makes no forecasts about future price movements or returns.

No return guarantees

Past performance is not a reliable indicator of future results. Investboard makes this clear in all analyses.