Which of the following can be used as a measure of a portfolio's performance?

Return on investment (ROI) serves as a fundamental measure of a portfolio's performance because it quantifies the gain or loss generated relative to the amount invested. This metric allows investors to assess how effectively their resources are being utilized to generate returns over a specific period. A higher ROI indicates a more productive investment, making it a valuable tool for evaluating and comparing the performance of different portfolios or investment strategies.

In contrast, market capitalization refers to the total market value of a company's outstanding shares and does not directly assess portfolio performance. Standard deviation measures the volatility of investment returns, providing insights into risk rather than direct performance. Liquidation value pertains to the estimated amount that can be realized if assets are sold off, which is not directly indicative of the ongoing performance of a portfolio in generating returns for its investors.