Question regarding daily Pnl Computation.

Hi,

I have a question related to the computation of daily returns from Risk based haircut(RBH) and net Pnl values provided by a clearing broker.

For example, let us say that the broker provides a net Pnl (after taking into account all fees) of 1000$ and Risk based haircut value of 1M.

The following is my reasoning regarding daily return computation. Please let me know if there is any erroneous reasoning here :

================

Risk based haircut is the amount of cash that must be present in the account to satisfy margin requirements. Thus it can be interpreted as the cash that can be ‘put into use’ by the strategy on a single day. Since the net pnl reported for a day includes all fees, we can interpret our daily return in this specific scenario to be 1000/1M = 0.1% (since we are obtaining 1000$ on 1M dollars in the account)

Does this look reasonable ?

Thanks

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