Elo rating and funds’ performance

The elo rating system is a by Aprad Elo created system for calculating relative skill levels in games such as chess or video games. Although this system couldn’t establish its implementation in many other forms of sport, there are several websites publishing these elo rankings (e.g. Word Football Elo Ratings).
The elo rating number is based on pairwise comparisons. Players‘ ratings are not measured absolutely, but rather depend on their own rating, the rating of their opponents and the results of the game.