From b0bffe8222f65715c6269ed6bde0224d1f68cf1b Mon Sep 17 00:00:00 2001
From: Thomas Kaul <4159106+dtslvr@users.noreply.github.com>
Date: Sat, 27 Jun 2026 16:50:15 +0200
Subject: [PATCH 01/10] Include cash in portfolio performance

---
 .../calculator/portfolio-calculator.ts        |  35 +++---
 .../roai/portfolio-calculator-cash.spec.ts    | 104 ++++++++++++++++++
 2 files changed, 123 insertions(+), 16 deletions(-)

diff --git a/apps/api/src/app/portfolio/calculator/portfolio-calculator.ts b/apps/api/src/app/portfolio/calculator/portfolio-calculator.ts
index ab3f76703..1d3f50580 100644
--- a/apps/api/src/app/portfolio/calculator/portfolio-calculator.ts
+++ b/apps/api/src/app/portfolio/calculator/portfolio-calculator.ts
@@ -392,19 +392,21 @@ export abstract class PortfolioCalculator {
       const includeInTotalAssetValue =
         item.assetSubClass !== AssetSubClass.CASH;
 
-      if (includeInTotalAssetValue) {
-        valuesBySymbol[item.symbol] = {
-          currentValues,
-          currentValuesWithCurrencyEffect,
-          investmentValuesAccumulated,
-          investmentValuesAccumulatedWithCurrencyEffect,
-          investmentValuesWithCurrencyEffect,
-          netPerformanceValues,
-          netPerformanceValuesWithCurrencyEffect,
-          timeWeightedInvestmentValues,
-          timeWeightedInvestmentValuesWithCurrencyEffect
-        };
-      }
+      // Cash positions are included in the chart (value, net worth and
+      // performance) so that the home screen reflects the entire portfolio.
+      // They remain excluded from the overall performance aggregate (see
+      // includeInTotalAssetValue) which keeps the FIRE wealth asset-only.
+      valuesBySymbol[item.symbol] = {
+        currentValues,
+        currentValuesWithCurrencyEffect,
+        investmentValuesAccumulated,
+        investmentValuesAccumulatedWithCurrencyEffect,
+        investmentValuesWithCurrencyEffect,
+        netPerformanceValues,
+        netPerformanceValuesWithCurrencyEffect,
+        timeWeightedInvestmentValues,
+        timeWeightedInvestmentValuesWithCurrencyEffect
+      };
 
       positions.push({
         includeInTotalAssetValue,
@@ -610,9 +612,10 @@ export abstract class PortfolioCalculator {
         netPerformance: totalNetPerformanceValue.toNumber(),
         netPerformanceWithCurrencyEffect:
           totalNetPerformanceValueWithCurrencyEffect.toNumber(),
-        netWorth: totalCurrentValueWithCurrencyEffect
-          .plus(totalAccountBalanceWithCurrencyEffect)
-          .toNumber(),
+        // Cash is now reflected through the cash positions in
+        // totalCurrentValueWithCurrencyEffect, so the account balance must no
+        // longer be added here to avoid counting cash twice in the net worth.
+        netWorth: totalCurrentValueWithCurrencyEffect.toNumber(),
         totalAccountBalance: totalAccountBalanceWithCurrencyEffect.toNumber(),
         totalInvestment: totalInvestmentValue.toNumber(),
         totalInvestmentValueWithCurrencyEffect:
diff --git a/apps/api/src/app/portfolio/calculator/roai/portfolio-calculator-cash.spec.ts b/apps/api/src/app/portfolio/calculator/roai/portfolio-calculator-cash.spec.ts
index 7774ee629..396124b11 100644
--- a/apps/api/src/app/portfolio/calculator/roai/portfolio-calculator-cash.spec.ts
+++ b/apps/api/src/app/portfolio/calculator/roai/portfolio-calculator-cash.spec.ts
@@ -287,5 +287,109 @@ describe('PortfolioCalculator', () => {
         totalLiabilitiesWithCurrencyEffect: new Big(0)
       });
     });
+
+    it('should include cash in the net worth and performance without counting it twice', async () => {
+      jest.useFakeTimers().setSystemTime(parseDate('2025-01-01').getTime());
+
+      const accountId = randomUUID();
+
+      jest
+        .spyOn(accountBalanceService, 'getAccountBalances')
+        .mockResolvedValue({
+          balances: [
+            {
+              accountId,
+              id: randomUUID(),
+              date: parseDate('2023-12-31'),
+              value: 1000,
+              valueInBaseCurrency: 850
+            },
+            {
+              accountId,
+              id: randomUUID(),
+              date: parseDate('2024-12-31'),
+              value: 2000,
+              valueInBaseCurrency: 1800
+            }
+          ]
+        });
+
+      jest.spyOn(accountService, 'getCashDetails').mockResolvedValue({
+        accounts: [
+          {
+            balance: 2000,
+            comment: null,
+            createdAt: parseDate('2023-12-31'),
+            currency: 'USD',
+            id: accountId,
+            isExcluded: false,
+            name: 'USD',
+            platformId: null,
+            updatedAt: parseDate('2023-12-31'),
+            userId: userDummyData.id
+          }
+        ],
+        balanceInBaseCurrency: 1820
+      });
+
+      jest
+        .spyOn(dataProviderService, 'getDataSourceForExchangeRates')
+        .mockReturnValue(DataSource.YAHOO);
+
+      jest.spyOn(activitiesService, 'getActivities').mockResolvedValue({
+        activities: [],
+        count: 0
+      });
+
+      const { activities } =
+        await activitiesService.getActivitiesForPortfolioCalculator({
+          userCurrency: 'CHF',
+          userId: userDummyData.id,
+          withCash: true
+        });
+
+      jest.spyOn(currentRateService, 'getValues').mockResolvedValue({
+        dataProviderInfos: [],
+        errors: [],
+        values: []
+      });
+
+      const accountBalanceItems =
+        await accountBalanceService.getAccountBalanceItems({
+          userCurrency: 'CHF',
+          userId: userDummyData.id
+        });
+
+      const portfolioCalculator = portfolioCalculatorFactory.createCalculator({
+        accountBalanceItems,
+        activities,
+        calculationType: PerformanceCalculationType.ROAI,
+        currency: 'CHF',
+        userId: userDummyData.id
+      });
+
+      const portfolioSnapshot = await portfolioCalculator.computeSnapshot();
+
+      const lastDataItem = portfolioSnapshot.historicalData.at(-1);
+
+      // The cash position is now reflected in the portfolio value (it used to
+      // be excluded, which left the value at 0 for a cash-only portfolio).
+      expect(lastDataItem.valueWithCurrencyEffect).toBeGreaterThan(0);
+
+      // The account balance is still tracked …
+      expect(lastDataItem.totalAccountBalance).toBeGreaterThan(0);
+
+      // … but it is no longer added on top of the cash position, so the net
+      // worth equals the portfolio value and cash is not counted twice.
+      expect(lastDataItem.netWorth).toBeCloseTo(
+        lastDataItem.valueWithCurrencyEffect
+      );
+
+      // Cash now contributes to the performance (here through the currency
+      // effect), so it is no longer flat at 0 %.
+      expect(
+        lastDataItem.netPerformanceInPercentageWithCurrencyEffect
+      ).not.toBe(0);
+    });
   });
 });

From bf34d29a779b26a87fb5d25a6965f18b58cd6ef5 Mon Sep 17 00:00:00 2001
From: Thomas Kaul <4159106+dtslvr@users.noreply.github.com>
Date: Sat, 27 Jun 2026 16:50:36 +0200
Subject: [PATCH 02/10] Update changelog

---
 CHANGELOG.md | 6 ++++++
 1 file changed, 6 insertions(+)

diff --git a/CHANGELOG.md b/CHANGELOG.md
index df95d849b..7f70d713f 100644
--- a/CHANGELOG.md
+++ b/CHANGELOG.md
@@ -5,6 +5,12 @@ All notable changes to this project will be documented in this file.
 The format is based on [Keep a Changelog](https://keepachangelog.com/en/1.0.0/),
 and this project adheres to [Semantic Versioning](https://semver.org/spec/v2.0.0.html).
 
+## Unreleased
+
+### Changed
+
+- Included cash in the performance calculation of the portfolio on the home page
+
 ## 3.21.0 - 2026-07-05
 
 ### Added

From a451fba43319a64125092b6aec2a07a0d07e6d26 Mon Sep 17 00:00:00 2001
From: Thomas Kaul <4159106+dtslvr@users.noreply.github.com>
Date: Sat, 4 Jul 2026 18:47:29 +0200
Subject: [PATCH 03/10] Refactoring

---
 .../src/app/portfolio/calculator/portfolio-calculator.ts  | 7 -------
 .../calculator/roai/portfolio-calculator-cash.spec.ts     | 8 ++++----
 2 files changed, 4 insertions(+), 11 deletions(-)

diff --git a/apps/api/src/app/portfolio/calculator/portfolio-calculator.ts b/apps/api/src/app/portfolio/calculator/portfolio-calculator.ts
index 1d3f50580..be450bf4b 100644
--- a/apps/api/src/app/portfolio/calculator/portfolio-calculator.ts
+++ b/apps/api/src/app/portfolio/calculator/portfolio-calculator.ts
@@ -392,10 +392,6 @@ export abstract class PortfolioCalculator {
       const includeInTotalAssetValue =
         item.assetSubClass !== AssetSubClass.CASH;
 
-      // Cash positions are included in the chart (value, net worth and
-      // performance) so that the home screen reflects the entire portfolio.
-      // They remain excluded from the overall performance aggregate (see
-      // includeInTotalAssetValue) which keeps the FIRE wealth asset-only.
       valuesBySymbol[item.symbol] = {
         currentValues,
         currentValuesWithCurrencyEffect,
@@ -612,9 +608,6 @@ export abstract class PortfolioCalculator {
         netPerformance: totalNetPerformanceValue.toNumber(),
         netPerformanceWithCurrencyEffect:
           totalNetPerformanceValueWithCurrencyEffect.toNumber(),
-        // Cash is now reflected through the cash positions in
-        // totalCurrentValueWithCurrencyEffect, so the account balance must no
-        // longer be added here to avoid counting cash twice in the net worth.
         netWorth: totalCurrentValueWithCurrencyEffect.toNumber(),
         totalAccountBalance: totalAccountBalanceWithCurrencyEffect.toNumber(),
         totalInvestment: totalInvestmentValue.toNumber(),
diff --git a/apps/api/src/app/portfolio/calculator/roai/portfolio-calculator-cash.spec.ts b/apps/api/src/app/portfolio/calculator/roai/portfolio-calculator-cash.spec.ts
index 396124b11..f8937cd97 100644
--- a/apps/api/src/app/portfolio/calculator/roai/portfolio-calculator-cash.spec.ts
+++ b/apps/api/src/app/portfolio/calculator/roai/portfolio-calculator-cash.spec.ts
@@ -148,15 +148,15 @@ describe('PortfolioCalculator', () => {
           balances: [
             {
               accountId,
-              id: randomUUID(),
               date: parseDate('2023-12-31'),
+              id: randomUUID(),
               value: 1000,
               valueInBaseCurrency: 850
             },
             {
               accountId,
-              id: randomUUID(),
               date: parseDate('2024-12-31'),
+              id: randomUUID(),
               value: 2000,
               valueInBaseCurrency: 1800
             }
@@ -376,10 +376,10 @@ describe('PortfolioCalculator', () => {
       // be excluded, which left the value at 0 for a cash-only portfolio).
       expect(lastDataItem.valueWithCurrencyEffect).toBeGreaterThan(0);
 
-      // The account balance is still tracked …
+      // The account balance is still tracked ...
       expect(lastDataItem.totalAccountBalance).toBeGreaterThan(0);
 
-      // … but it is no longer added on top of the cash position, so the net
+      // ... but it is no longer added on top of the cash position, so the net
       // worth equals the portfolio value and cash is not counted twice.
       expect(lastDataItem.netWorth).toBeCloseTo(
         lastDataItem.valueWithCurrencyEffect

From babbf9574ebed716fa553c272841f98ce83720c0 Mon Sep 17 00:00:00 2001
From: Thomas Kaul <4159106+dtslvr@users.noreply.github.com>
Date: Sun, 5 Jul 2026 18:06:16 +0200
Subject: [PATCH 04/10] Refactoring

---
 .../calculator/roai/portfolio-calculator-cash.spec.ts         | 4 ++--
 1 file changed, 2 insertions(+), 2 deletions(-)

diff --git a/apps/api/src/app/portfolio/calculator/roai/portfolio-calculator-cash.spec.ts b/apps/api/src/app/portfolio/calculator/roai/portfolio-calculator-cash.spec.ts
index f8937cd97..1c2eb69d1 100644
--- a/apps/api/src/app/portfolio/calculator/roai/portfolio-calculator-cash.spec.ts
+++ b/apps/api/src/app/portfolio/calculator/roai/portfolio-calculator-cash.spec.ts
@@ -299,15 +299,15 @@ describe('PortfolioCalculator', () => {
           balances: [
             {
               accountId,
-              id: randomUUID(),
               date: parseDate('2023-12-31'),
+              id: randomUUID(),
               value: 1000,
               valueInBaseCurrency: 850
             },
             {
               accountId,
-              id: randomUUID(),
               date: parseDate('2024-12-31'),
+              id: randomUUID(),
               value: 2000,
               valueInBaseCurrency: 1800
             }

From 946593a2f04b40fe3741d044aeeeadb8ad813ee3 Mon Sep 17 00:00:00 2001
From: Thomas Kaul <4159106+dtslvr@users.noreply.github.com>
Date: Thu, 16 Jul 2026 10:39:45 +0200
Subject: [PATCH 05/10] Include cash in portfolio performance

---
 .../calculator/portfolio-calculator.ts        |  45 ++++--
 .../roai/portfolio-calculator-cash.spec.ts    | 130 ++++--------------
 .../portfolio-calculator-liability.spec.ts    |   8 ++
 .../calculator/roai/portfolio-calculator.ts   |   6 +-
 .../src/app/portfolio/portfolio.service.ts    |   9 +-
 .../src/lib/models/timeline-position.ts       |   2 -
 6 files changed, 73 insertions(+), 127 deletions(-)

diff --git a/apps/api/src/app/portfolio/calculator/portfolio-calculator.ts b/apps/api/src/app/portfolio/calculator/portfolio-calculator.ts
index ccf4005ff..2082c3c2b 100644
--- a/apps/api/src/app/portfolio/calculator/portfolio-calculator.ts
+++ b/apps/api/src/app/portfolio/calculator/portfolio-calculator.ts
@@ -39,7 +39,6 @@ import { GroupBy } from '@ghostfolio/common/types';
 import { PerformanceCalculationType } from '@ghostfolio/common/types/performance-calculation-type.type';
 
 import { Logger } from '@nestjs/common';
-import { AssetSubClass } from '@prisma/client';
 import { Big } from 'big.js';
 import { plainToClass } from 'class-transformer';
 import {
@@ -319,6 +318,7 @@ export abstract class PortfolioCalculator {
         totalCurrentValueWithCurrencyEffect: Big;
         totalInvestmentValue: Big;
         totalInvestmentValueWithCurrencyEffect: Big;
+        totalLiabilitiesWithCurrencyEffect: Big;
         totalNetPerformanceValue: Big;
         totalNetPerformanceValueWithCurrencyEffect: Big;
         totalTimeWeightedInvestmentValue: Big;
@@ -389,9 +389,6 @@ export abstract class PortfolioCalculator {
 
       hasAnySymbolMetricsErrors = hasAnySymbolMetricsErrors || hasErrors;
 
-      const includeInTotalAssetValue =
-        item.assetSubClass !== AssetSubClass.CASH;
-
       valuesBySymbol[item.symbol] = {
         currentValues,
         currentValuesWithCurrencyEffect,
@@ -405,7 +402,6 @@ export abstract class PortfolioCalculator {
       };
 
       positions.push({
-        includeInTotalAssetValue,
         timeWeightedInvestment,
         timeWeightedInvestmentWithCurrencyEffect,
         activitiesCount: item.activitiesCount,
@@ -479,8 +475,28 @@ export abstract class PortfolioCalculator {
       {} as { [date: string]: Big }
     );
 
+    const liabilityItemsMap = this.activities.reduce(
+      (map, { assetProfile, date, quantity, type, unitPrice }) => {
+        if (type === 'LIABILITY') {
+          const exchangeRate =
+            exchangeRatesByCurrency[
+              `${assetProfile.currency}${this.currency}`
+            ]?.[date] ?? 1;
+
+          map[date] = (map[date] ?? new Big(0)).plus(
+            quantity.mul(unitPrice).mul(exchangeRate)
+          );
+        }
+
+        return map;
+      },
+      {} as { [date: string]: Big }
+    );
+
     const accountBalanceMap: { [date: string]: Big } = {};
+    const liabilitiesMap: { [date: string]: Big } = {};
 
+    let accumulatedLiabilities = new Big(0);
     let lastKnownBalance = new Big(0);
 
     for (const dateString of chartDates) {
@@ -492,6 +508,14 @@ export abstract class PortfolioCalculator {
       // Add the most recent balance to the accountBalanceMap
       accountBalanceMap[dateString] = lastKnownBalance;
 
+      if (liabilityItemsMap[dateString] !== undefined) {
+        accumulatedLiabilities = accumulatedLiabilities.plus(
+          liabilityItemsMap[dateString]
+        );
+      }
+
+      liabilitiesMap[dateString] = accumulatedLiabilities;
+
       for (const symbol of Object.keys(valuesBySymbol)) {
         const symbolValues = valuesBySymbol[symbol];
 
@@ -550,6 +574,7 @@ export abstract class PortfolioCalculator {
             accumulatedValuesByDate[dateString]
               ?.totalInvestmentValueWithCurrencyEffect ?? new Big(0)
           ).add(investmentValueAccumulatedWithCurrencyEffect),
+          totalLiabilitiesWithCurrencyEffect: liabilitiesMap[dateString],
           totalNetPerformanceValue: (
             accumulatedValuesByDate[dateString]?.totalNetPerformanceValue ??
             new Big(0)
@@ -580,6 +605,7 @@ export abstract class PortfolioCalculator {
         totalCurrentValueWithCurrencyEffect,
         totalInvestmentValue,
         totalInvestmentValueWithCurrencyEffect,
+        totalLiabilitiesWithCurrencyEffect,
         totalNetPerformanceValue,
         totalNetPerformanceValueWithCurrencyEffect,
         totalTimeWeightedInvestmentValue,
@@ -608,7 +634,9 @@ export abstract class PortfolioCalculator {
         netPerformance: totalNetPerformanceValue.toNumber(),
         netPerformanceWithCurrencyEffect:
           totalNetPerformanceValueWithCurrencyEffect.toNumber(),
-        netWorth: totalCurrentValueWithCurrencyEffect.toNumber(),
+        netWorth: totalCurrentValueWithCurrencyEffect
+          .minus(totalLiabilitiesWithCurrencyEffect)
+          .toNumber(),
         totalAccountBalance: totalAccountBalanceWithCurrencyEffect.toNumber(),
         totalInvestment: totalInvestmentValue.toNumber(),
         totalInvestmentValueWithCurrencyEffect:
@@ -770,11 +798,6 @@ export abstract class PortfolioCalculator {
               ? 0
               : netPerformanceWithCurrencyEffectSinceStartDate /
                 timeWeightedInvestmentValue
-          // TODO: Add net worth
-          // netWorth: totalCurrentValueWithCurrencyEffect
-          //   .plus(totalAccountBalanceWithCurrencyEffect)
-          //   .toNumber()
-          // netWorth: 0
         });
       }
     }
diff --git a/apps/api/src/app/portfolio/calculator/roai/portfolio-calculator-cash.spec.ts b/apps/api/src/app/portfolio/calculator/roai/portfolio-calculator-cash.spec.ts
index 1c2eb69d1..559fb0ed1 100644
--- a/apps/api/src/app/portfolio/calculator/roai/portfolio-calculator-cash.spec.ts
+++ b/apps/api/src/app/portfolio/calculator/roai/portfolio-calculator-cash.spec.ts
@@ -137,7 +137,7 @@ describe('PortfolioCalculator', () => {
   });
 
   describe('Cash Performance', () => {
-    it('should calculate performance for cash assets in CHF default currency', async () => {
+    const computePortfolioSnapshot = async () => {
       jest.useFakeTimers().setSystemTime(parseDate('2025-01-01').getTime());
 
       const accountId = randomUUID();
@@ -217,7 +217,11 @@ describe('PortfolioCalculator', () => {
         userId: userDummyData.id
       });
 
-      const portfolioSnapshot = await portfolioCalculator.computeSnapshot();
+      return portfolioCalculator.computeSnapshot();
+    };
+
+    it('should calculate performance for cash assets in CHF default currency', async () => {
+      const portfolioSnapshot = await computePortfolioSnapshot();
 
       const position = portfolioSnapshot.positions.find(({ symbol }) => {
         return symbol === 'USD';
@@ -246,7 +250,6 @@ describe('PortfolioCalculator', () => {
           '0.08211603004634809014'
         ),
         grossPerformanceWithCurrencyEffect: new Big(70),
-        includeInTotalAssetValue: false,
         investment: new Big(1820),
         investmentWithCurrencyEffect: new Big(1750),
         marketPrice: 1,
@@ -281,115 +284,40 @@ describe('PortfolioCalculator', () => {
       });
 
       expect(portfolioSnapshot).toMatchObject({
+        currentValueInBaseCurrency: new Big(1820),
         hasErrors: false,
         totalFeesWithCurrencyEffect: new Big(0),
         totalInterestWithCurrencyEffect: new Big(0),
+        totalInvestment: new Big(1820),
         totalLiabilitiesWithCurrencyEffect: new Big(0)
       });
     });
 
     it('should include cash in the net worth and performance without counting it twice', async () => {
-      jest.useFakeTimers().setSystemTime(parseDate('2025-01-01').getTime());
-
-      const accountId = randomUUID();
-
-      jest
-        .spyOn(accountBalanceService, 'getAccountBalances')
-        .mockResolvedValue({
-          balances: [
-            {
-              accountId,
-              date: parseDate('2023-12-31'),
-              id: randomUUID(),
-              value: 1000,
-              valueInBaseCurrency: 850
-            },
-            {
-              accountId,
-              date: parseDate('2024-12-31'),
-              id: randomUUID(),
-              value: 2000,
-              valueInBaseCurrency: 1800
-            }
-          ]
-        });
-
-      jest.spyOn(accountService, 'getCashDetails').mockResolvedValue({
-        accounts: [
-          {
-            balance: 2000,
-            comment: null,
-            createdAt: parseDate('2023-12-31'),
-            currency: 'USD',
-            id: accountId,
-            isExcluded: false,
-            name: 'USD',
-            platformId: null,
-            updatedAt: parseDate('2023-12-31'),
-            userId: userDummyData.id
-          }
-        ],
-        balanceInBaseCurrency: 1820
-      });
-
-      jest
-        .spyOn(dataProviderService, 'getDataSourceForExchangeRates')
-        .mockReturnValue(DataSource.YAHOO);
-
-      jest.spyOn(activitiesService, 'getActivities').mockResolvedValue({
-        activities: [],
-        count: 0
-      });
-
-      const { activities } =
-        await activitiesService.getActivitiesForPortfolioCalculator({
-          userCurrency: 'CHF',
-          userId: userDummyData.id,
-          withCash: true
-        });
-
-      jest.spyOn(currentRateService, 'getValues').mockResolvedValue({
-        dataProviderInfos: [],
-        errors: [],
-        values: []
-      });
-
-      const accountBalanceItems =
-        await accountBalanceService.getAccountBalanceItems({
-          userCurrency: 'CHF',
-          userId: userDummyData.id
-        });
-
-      const portfolioCalculator = portfolioCalculatorFactory.createCalculator({
-        accountBalanceItems,
-        activities,
-        calculationType: PerformanceCalculationType.ROAI,
-        currency: 'CHF',
-        userId: userDummyData.id
-      });
-
-      const portfolioSnapshot = await portfolioCalculator.computeSnapshot();
+      const portfolioSnapshot = await computePortfolioSnapshot();
 
       const lastDataItem = portfolioSnapshot.historicalData.at(-1);
 
-      // The cash position is now reflected in the portfolio value (it used to
-      // be excluded, which left the value at 0 for a cash-only portfolio).
-      expect(lastDataItem.valueWithCurrencyEffect).toBeGreaterThan(0);
-
-      // The account balance is still tracked ...
-      expect(lastDataItem.totalAccountBalance).toBeGreaterThan(0);
-
-      // ... but it is no longer added on top of the cash position, so the net
-      // worth equals the portfolio value and cash is not counted twice.
-      expect(lastDataItem.netWorth).toBeCloseTo(
-        lastDataItem.valueWithCurrencyEffect
-      );
-
-      // Cash now contributes to the performance (here through the currency
-      // effect), so it is no longer flat at 0 %.
-      expect(
-        lastDataItem.netPerformanceInPercentageWithCurrencyEffect
-      ).not.toBe(0);
+      /**
+       * Value with currency effect: 2000 USD * 0.91 = 1820 CHF
+       * Net worth: 1820 CHF - 0 CHF (liabilities) = 1820 CHF
+       * Total account balance: 1800 CHF (balance in base currency on 2024-12-31)
+       * Net performance with currency effect: 70 CHF / 852.45 CHF ≈ 8.21 %
+       */
+      expect(lastDataItem).toEqual({
+        date: '2025-01-01',
+        investmentValueWithCurrencyEffect: 0,
+        netPerformance: 0,
+        netPerformanceInPercentage: 0,
+        netPerformanceInPercentageWithCurrencyEffect: 0.08211603004634808,
+        netPerformanceWithCurrencyEffect: 70,
+        netWorth: 1820,
+        totalAccountBalance: 1800,
+        totalInvestment: 1820,
+        totalInvestmentValueWithCurrencyEffect: 1750,
+        value: 1820,
+        valueWithCurrencyEffect: 1820
+      });
     });
   });
 });
diff --git a/apps/api/src/app/portfolio/calculator/roai/portfolio-calculator-liability.spec.ts b/apps/api/src/app/portfolio/calculator/roai/portfolio-calculator-liability.spec.ts
index 94654af61..51a4c0368 100644
--- a/apps/api/src/app/portfolio/calculator/roai/portfolio-calculator-liability.spec.ts
+++ b/apps/api/src/app/portfolio/calculator/roai/portfolio-calculator-liability.spec.ts
@@ -113,6 +113,14 @@ describe('PortfolioCalculator', () => {
       expect(portfolioSnapshot.totalLiabilitiesWithCurrencyEffect).toEqual(
         new Big(3000)
       );
+
+      /**
+       * Net worth: 0 USD (current value) - 3000 USD (liabilities) = -3000 USD
+       */
+      expect(portfolioSnapshot.historicalData.at(-1)).toMatchObject({
+        netWorth: -3000,
+        valueWithCurrencyEffect: 0
+      });
     });
   });
 });
diff --git a/apps/api/src/app/portfolio/calculator/roai/portfolio-calculator.ts b/apps/api/src/app/portfolio/calculator/roai/portfolio-calculator.ts
index f79e5bc79..daacdc60d 100644
--- a/apps/api/src/app/portfolio/calculator/roai/portfolio-calculator.ts
+++ b/apps/api/src/app/portfolio/calculator/roai/portfolio-calculator.ts
@@ -40,11 +40,7 @@ export class RoaiPortfolioCalculator extends PortfolioCalculator {
     let totalTimeWeightedInvestment = new Big(0);
     let totalTimeWeightedInvestmentWithCurrencyEffect = new Big(0);
 
-    for (const currentPosition of positions.filter(
-      ({ includeInTotalAssetValue }) => {
-        return includeInTotalAssetValue;
-      }
-    )) {
+    for (const currentPosition of positions) {
       if (currentPosition.feeInBaseCurrency) {
         totalFeesWithCurrencyEffect = totalFeesWithCurrencyEffect.plus(
           currentPosition.feeInBaseCurrency
diff --git a/apps/api/src/app/portfolio/portfolio.service.ts b/apps/api/src/app/portfolio/portfolio.service.ts
index 6617b8f9b..108e30618 100644
--- a/apps/api/src/app/portfolio/portfolio.service.ts
+++ b/apps/api/src/app/portfolio/portfolio.service.ts
@@ -541,12 +541,6 @@ export class PortfolioService {
 
     let filteredValueInBaseCurrency = currentValueInBaseCurrency;
 
-    if (!this.activitiesService.areCashActivitiesExcludedByFilters(filters)) {
-      filteredValueInBaseCurrency = filteredValueInBaseCurrency.plus(
-        cashDetails.balanceInBaseCurrency
-      );
-    }
-
     const assetProfileIdentifiers = positions.map(({ dataSource, symbol }) => {
       return {
         dataSource,
@@ -1969,8 +1963,7 @@ export class PortfolioService {
       .plus(totalOfExcludedActivities)
       .toNumber();
 
-    const netWorth = new Big(balanceInBaseCurrency)
-      .plus(currentValueInBaseCurrency)
+    const netWorth = new Big(currentValueInBaseCurrency)
       .plus(excludedAccountsAndActivities)
       .minus(liabilities)
       .toNumber();
diff --git a/libs/common/src/lib/models/timeline-position.ts b/libs/common/src/lib/models/timeline-position.ts
index 13f9001d5..b16db4988 100644
--- a/libs/common/src/lib/models/timeline-position.ts
+++ b/libs/common/src/lib/models/timeline-position.ts
@@ -51,8 +51,6 @@ export class TimelinePosition {
   @Type(() => Big)
   grossPerformanceWithCurrencyEffect: Big;
 
-  includeInTotalAssetValue?: boolean;
-
   @Transform(transformToBig, { toClassOnly: true })
   @Type(() => Big)
   investment: Big;

From 38cba506352f17a1613c1dfe91919026ebc1214f Mon Sep 17 00:00:00 2001
From: Thomas Kaul <4159106+dtslvr@users.noreply.github.com>
Date: Thu, 16 Jul 2026 10:40:59 +0200
Subject: [PATCH 06/10] Update changelog

---
 CHANGELOG.md | 3 ++-
 1 file changed, 2 insertions(+), 1 deletion(-)

diff --git a/CHANGELOG.md b/CHANGELOG.md
index f069097ab..00340c890 100644
--- a/CHANGELOG.md
+++ b/CHANGELOG.md
@@ -9,7 +9,8 @@ and this project adheres to [Semantic Versioning](https://semver.org/spec/v2.0.0
 
 ### Changed
 
-- Included cash in the performance calculation of the portfolio on the home page
+- Included cash in the performance calculation of the portfolio
+- Considered liabilities in the net worth calculation of the portfolio
 
 ## 3.27.0 - 2026-07-15
 

From e92c6ca29829709a17aea17be6d7a133632c24f3 Mon Sep 17 00:00:00 2001
From: Thomas Kaul <4159106+dtslvr@users.noreply.github.com>
Date: Thu, 16 Jul 2026 10:50:40 +0200
Subject: [PATCH 07/10] Include cash in portfolio performance

---
 .../src/app/portfolio/calculator/portfolio-calculator.ts | 9 +++++++++
 .../calculator/roai/portfolio-calculator-cash.spec.ts    | 1 +
 .../portfolio/calculator/roai/portfolio-calculator.ts    | 1 +
 apps/api/src/app/portfolio/portfolio.service.ts          | 2 ++
 libs/common/src/lib/models/portfolio-snapshot.ts         | 4 ++++
 5 files changed, 17 insertions(+)

diff --git a/apps/api/src/app/portfolio/calculator/portfolio-calculator.ts b/apps/api/src/app/portfolio/calculator/portfolio-calculator.ts
index 2082c3c2b..1bc9c2e02 100644
--- a/apps/api/src/app/portfolio/calculator/portfolio-calculator.ts
+++ b/apps/api/src/app/portfolio/calculator/portfolio-calculator.ts
@@ -193,6 +193,7 @@ export abstract class PortfolioCalculator {
         hasErrors: false,
         historicalData: [],
         positions: [],
+        totalCashInBaseCurrency: new Big(0),
         totalFeesWithCurrencyEffect: new Big(0),
         totalInterestWithCurrencyEffect: new Big(0),
         totalInvestment: new Big(0),
@@ -205,6 +206,7 @@ export abstract class PortfolioCalculator {
     const dataGatheringItems: DataGatheringItem[] = [];
     let firstIndex = transactionPoints.length;
     let firstTransactionPoint: TransactionPoint = null;
+    let totalCashInBaseCurrency = new Big(0);
     let totalInterestWithCurrencyEffect = new Big(0);
     let totalLiabilitiesWithCurrencyEffect = new Big(0);
 
@@ -447,6 +449,12 @@ export abstract class PortfolioCalculator {
         )
       });
 
+      if (item.assetSubClass === 'CASH') {
+        totalCashInBaseCurrency = totalCashInBaseCurrency.plus(
+          marketPriceInBaseCurrency.mul(item.quantity)
+        );
+      }
+
       totalInterestWithCurrencyEffect = totalInterestWithCurrencyEffect.plus(
         totalInterestInBaseCurrency
       );
@@ -661,6 +669,7 @@ export abstract class PortfolioCalculator {
       ...overall,
       errors,
       historicalData,
+      totalCashInBaseCurrency,
       totalInterestWithCurrencyEffect,
       totalLiabilitiesWithCurrencyEffect,
       hasErrors: hasAnySymbolMetricsErrors || overall.hasErrors,
diff --git a/apps/api/src/app/portfolio/calculator/roai/portfolio-calculator-cash.spec.ts b/apps/api/src/app/portfolio/calculator/roai/portfolio-calculator-cash.spec.ts
index 559fb0ed1..d5d5ef439 100644
--- a/apps/api/src/app/portfolio/calculator/roai/portfolio-calculator-cash.spec.ts
+++ b/apps/api/src/app/portfolio/calculator/roai/portfolio-calculator-cash.spec.ts
@@ -286,6 +286,7 @@ describe('PortfolioCalculator', () => {
       expect(portfolioSnapshot).toMatchObject({
         currentValueInBaseCurrency: new Big(1820),
         hasErrors: false,
+        totalCashInBaseCurrency: new Big(1820),
         totalFeesWithCurrencyEffect: new Big(0),
         totalInterestWithCurrencyEffect: new Big(0),
         totalInvestment: new Big(1820),
diff --git a/apps/api/src/app/portfolio/calculator/roai/portfolio-calculator.ts b/apps/api/src/app/portfolio/calculator/roai/portfolio-calculator.ts
index daacdc60d..4348ca3a4 100644
--- a/apps/api/src/app/portfolio/calculator/roai/portfolio-calculator.ts
+++ b/apps/api/src/app/portfolio/calculator/roai/portfolio-calculator.ts
@@ -113,6 +113,7 @@ export class RoaiPortfolioCalculator extends PortfolioCalculator {
       createdAt: new Date(),
       errors: [],
       historicalData: [],
+      totalCashInBaseCurrency: new Big(0),
       totalLiabilitiesWithCurrencyEffect: new Big(0)
     };
   }
diff --git a/apps/api/src/app/portfolio/portfolio.service.ts b/apps/api/src/app/portfolio/portfolio.service.ts
index 108e30618..f2bcad8f5 100644
--- a/apps/api/src/app/portfolio/portfolio.service.ts
+++ b/apps/api/src/app/portfolio/portfolio.service.ts
@@ -1887,6 +1887,7 @@ export class PortfolioService {
 
     const {
       currentValueInBaseCurrency,
+      totalCashInBaseCurrency,
       totalInvestment,
       totalInvestmentWithCurrencyEffect
     } = await portfolioCalculator.getSnapshot();
@@ -2015,6 +2016,7 @@ export class PortfolioService {
       fireWealth: {
         today: {
           valueInBaseCurrency: new Big(currentValueInBaseCurrency)
+            .minus(totalCashInBaseCurrency ?? 0)
             .minus(emergencyFundHoldingsValueInBaseCurrency)
             .toNumber()
         }
diff --git a/libs/common/src/lib/models/portfolio-snapshot.ts b/libs/common/src/lib/models/portfolio-snapshot.ts
index 6b13ca048..17e4bf97d 100644
--- a/libs/common/src/lib/models/portfolio-snapshot.ts
+++ b/libs/common/src/lib/models/portfolio-snapshot.ts
@@ -26,6 +26,10 @@ export class PortfolioSnapshot {
   @Type(() => TimelinePosition)
   positions: TimelinePosition[];
 
+  @Transform(transformToBig, { toClassOnly: true })
+  @Type(() => Big)
+  totalCashInBaseCurrency: Big;
+
   @Transform(transformToBig, { toClassOnly: true })
   @Type(() => Big)
   totalFeesWithCurrencyEffect: Big;

From 89aae550a78c22cad1c500618f4d7bc35726a3e4 Mon Sep 17 00:00:00 2001
From: Thomas Kaul <4159106+dtslvr@users.noreply.github.com>
Date: Thu, 16 Jul 2026 11:55:49 +0200
Subject: [PATCH 08/10] Include cash in portfolio performance

---
 .../calculator/portfolio-calculator.ts        | 85 +++++--------------
 .../roai/portfolio-calculator-btceur.spec.ts  |  6 +-
 .../roai/portfolio-calculator-btcusd.spec.ts  |  6 +-
 .../roai/portfolio-calculator-cash.spec.ts    |  8 +-
 .../portfolio-calculator-liability.spec.ts    |  8 --
 ...folio-calculator-novn-buy-and-sell.spec.ts |  6 +-
 .../historical-data-item.interface.ts         |  2 +-
 7 files changed, 35 insertions(+), 86 deletions(-)

diff --git a/apps/api/src/app/portfolio/calculator/portfolio-calculator.ts b/apps/api/src/app/portfolio/calculator/portfolio-calculator.ts
index 1bc9c2e02..d2b48daf0 100644
--- a/apps/api/src/app/portfolio/calculator/portfolio-calculator.ts
+++ b/apps/api/src/app/portfolio/calculator/portfolio-calculator.ts
@@ -202,6 +202,7 @@ export abstract class PortfolioCalculator {
       };
     }
 
+    const cashSymbols = new Set<string>();
     const currencies: { [symbol: string]: string } = {};
     const dataGatheringItems: DataGatheringItem[] = [];
     let firstIndex = transactionPoints.length;
@@ -315,12 +316,11 @@ export abstract class PortfolioCalculator {
     const accumulatedValuesByDate: {
       [date: string]: {
         investmentValueWithCurrencyEffect: Big;
-        totalAccountBalanceWithCurrencyEffect: Big;
+        totalCashValueWithCurrencyEffect: Big;
         totalCurrentValue: Big;
         totalCurrentValueWithCurrencyEffect: Big;
         totalInvestmentValue: Big;
         totalInvestmentValueWithCurrencyEffect: Big;
-        totalLiabilitiesWithCurrencyEffect: Big;
         totalNetPerformanceValue: Big;
         totalNetPerformanceValueWithCurrencyEffect: Big;
         totalTimeWeightedInvestmentValue: Big;
@@ -351,6 +351,8 @@ export abstract class PortfolioCalculator {
         ] ?? 1
       );
 
+      const valueInBaseCurrency = marketPriceInBaseCurrency.mul(item.quantity);
+
       const {
         currentValues,
         currentValuesWithCurrencyEffect,
@@ -444,15 +446,14 @@ export abstract class PortfolioCalculator {
         quantity: item.quantity,
         symbol: item.symbol,
         tags: item.tags,
-        valueInBaseCurrency: new Big(marketPriceInBaseCurrency).mul(
-          item.quantity
-        )
+        valueInBaseCurrency
       });
 
       if (item.assetSubClass === 'CASH') {
-        totalCashInBaseCurrency = totalCashInBaseCurrency.plus(
-          marketPriceInBaseCurrency.mul(item.quantity)
-        );
+        cashSymbols.add(item.symbol);
+
+        totalCashInBaseCurrency =
+          totalCashInBaseCurrency.plus(valueInBaseCurrency);
       }
 
       totalInterestWithCurrencyEffect = totalInterestWithCurrencyEffect.plus(
@@ -474,56 +475,7 @@ export abstract class PortfolioCalculator {
       }
     }
 
-    const accountBalanceItemsMap = this.accountBalanceItems.reduce(
-      (map, { date, value }) => {
-        map[date] = new Big(value);
-
-        return map;
-      },
-      {} as { [date: string]: Big }
-    );
-
-    const liabilityItemsMap = this.activities.reduce(
-      (map, { assetProfile, date, quantity, type, unitPrice }) => {
-        if (type === 'LIABILITY') {
-          const exchangeRate =
-            exchangeRatesByCurrency[
-              `${assetProfile.currency}${this.currency}`
-            ]?.[date] ?? 1;
-
-          map[date] = (map[date] ?? new Big(0)).plus(
-            quantity.mul(unitPrice).mul(exchangeRate)
-          );
-        }
-
-        return map;
-      },
-      {} as { [date: string]: Big }
-    );
-
-    const accountBalanceMap: { [date: string]: Big } = {};
-    const liabilitiesMap: { [date: string]: Big } = {};
-
-    let accumulatedLiabilities = new Big(0);
-    let lastKnownBalance = new Big(0);
-
     for (const dateString of chartDates) {
-      if (accountBalanceItemsMap[dateString] !== undefined) {
-        // If there's an exact balance for this date, update lastKnownBalance
-        lastKnownBalance = accountBalanceItemsMap[dateString];
-      }
-
-      // Add the most recent balance to the accountBalanceMap
-      accountBalanceMap[dateString] = lastKnownBalance;
-
-      if (liabilityItemsMap[dateString] !== undefined) {
-        accumulatedLiabilities = accumulatedLiabilities.plus(
-          liabilityItemsMap[dateString]
-        );
-      }
-
-      liabilitiesMap[dateString] = accumulatedLiabilities;
-
       for (const symbol of Object.keys(valuesBySymbol)) {
         const symbolValues = valuesBySymbol[symbol];
 
@@ -566,7 +518,14 @@ export abstract class PortfolioCalculator {
             accumulatedValuesByDate[dateString]
               ?.investmentValueWithCurrencyEffect ?? new Big(0)
           ).add(investmentValueWithCurrencyEffect),
-          totalAccountBalanceWithCurrencyEffect: accountBalanceMap[dateString],
+          totalCashValueWithCurrencyEffect: (
+            accumulatedValuesByDate[dateString]
+              ?.totalCashValueWithCurrencyEffect ?? new Big(0)
+          ).add(
+            cashSymbols.has(symbol)
+              ? currentValueWithCurrencyEffect
+              : new Big(0)
+          ),
           totalCurrentValue: (
             accumulatedValuesByDate[dateString]?.totalCurrentValue ?? new Big(0)
           ).add(currentValue),
@@ -582,7 +541,6 @@ export abstract class PortfolioCalculator {
             accumulatedValuesByDate[dateString]
               ?.totalInvestmentValueWithCurrencyEffect ?? new Big(0)
           ).add(investmentValueAccumulatedWithCurrencyEffect),
-          totalLiabilitiesWithCurrencyEffect: liabilitiesMap[dateString],
           totalNetPerformanceValue: (
             accumulatedValuesByDate[dateString]?.totalNetPerformanceValue ??
             new Big(0)
@@ -608,12 +566,11 @@ export abstract class PortfolioCalculator {
     ).map(([date, values]) => {
       const {
         investmentValueWithCurrencyEffect,
-        totalAccountBalanceWithCurrencyEffect,
+        totalCashValueWithCurrencyEffect,
         totalCurrentValue,
         totalCurrentValueWithCurrencyEffect,
         totalInvestmentValue,
         totalInvestmentValueWithCurrencyEffect,
-        totalLiabilitiesWithCurrencyEffect,
         totalNetPerformanceValue,
         totalNetPerformanceValueWithCurrencyEffect,
         totalTimeWeightedInvestmentValue,
@@ -642,10 +599,8 @@ export abstract class PortfolioCalculator {
         netPerformance: totalNetPerformanceValue.toNumber(),
         netPerformanceWithCurrencyEffect:
           totalNetPerformanceValueWithCurrencyEffect.toNumber(),
-        netWorth: totalCurrentValueWithCurrencyEffect
-          .minus(totalLiabilitiesWithCurrencyEffect)
-          .toNumber(),
-        totalAccountBalance: totalAccountBalanceWithCurrencyEffect.toNumber(),
+        netWorth: totalCurrentValueWithCurrencyEffect.toNumber(),
+        totalCashInBaseCurrency: totalCashValueWithCurrencyEffect.toNumber(),
         totalInvestment: totalInvestmentValue.toNumber(),
         totalInvestmentValueWithCurrencyEffect:
           totalInvestmentValueWithCurrencyEffect.toNumber(),
diff --git a/apps/api/src/app/portfolio/calculator/roai/portfolio-calculator-btceur.spec.ts b/apps/api/src/app/portfolio/calculator/roai/portfolio-calculator-btceur.spec.ts
index bc80e8996..4f5da58b8 100644
--- a/apps/api/src/app/portfolio/calculator/roai/portfolio-calculator-btceur.spec.ts
+++ b/apps/api/src/app/portfolio/calculator/roai/portfolio-calculator-btceur.spec.ts
@@ -145,7 +145,7 @@ describe('PortfolioCalculator', () => {
         netPerformanceInPercentageWithCurrencyEffect: 0,
         netPerformanceWithCurrencyEffect: 0,
         netWorth: 0,
-        totalAccountBalance: 0,
+        totalCashInBaseCurrency: 0,
         totalInvestment: 0,
         totalInvestmentValueWithCurrencyEffect: 0,
         value: 0,
@@ -163,7 +163,7 @@ describe('PortfolioCalculator', () => {
         netPerformanceInPercentageWithCurrencyEffect: 0.12422837255001412, // 5535.42 ÷ 44558.42 = 0.12422837255001412
         netPerformanceWithCurrencyEffect: 5535.42,
         netWorth: 50098.3, // 1 * 50098.3 = 50098.3
-        totalAccountBalance: 0,
+        totalCashInBaseCurrency: 0,
         totalInvestment: 44558.42,
         totalInvestmentValueWithCurrencyEffect: 44558.42,
         value: 50098.3, // 1 * 50098.3 = 50098.3
@@ -182,7 +182,7 @@ describe('PortfolioCalculator', () => {
         netPerformanceInPercentageWithCurrencyEffect: -0.032837340282712,
         netPerformanceWithCurrencyEffect: -1463.18,
         netWorth: 43099.7,
-        totalAccountBalance: 0,
+        totalCashInBaseCurrency: 0,
         totalInvestment: 44558.42,
         totalInvestmentValueWithCurrencyEffect: 44558.42,
         value: 43099.7,
diff --git a/apps/api/src/app/portfolio/calculator/roai/portfolio-calculator-btcusd.spec.ts b/apps/api/src/app/portfolio/calculator/roai/portfolio-calculator-btcusd.spec.ts
index 18b0e6d64..eb5571feb 100644
--- a/apps/api/src/app/portfolio/calculator/roai/portfolio-calculator-btcusd.spec.ts
+++ b/apps/api/src/app/portfolio/calculator/roai/portfolio-calculator-btcusd.spec.ts
@@ -145,7 +145,7 @@ describe('PortfolioCalculator', () => {
         netPerformanceInPercentageWithCurrencyEffect: 0,
         netPerformanceWithCurrencyEffect: 0,
         netWorth: 0,
-        totalAccountBalance: 0,
+        totalCashInBaseCurrency: 0,
         totalInvestment: 0,
         totalInvestmentValueWithCurrencyEffect: 0,
         value: 0,
@@ -163,7 +163,7 @@ describe('PortfolioCalculator', () => {
         netPerformanceInPercentageWithCurrencyEffect: 0.12422837255001412, // 5535.42 ÷ 44558.42 = 0.12422837255001412
         netPerformanceWithCurrencyEffect: 5535.42, // 1 * (50098.3 - 44558.42) - 4.46 = 5535.42
         netWorth: 50098.3, // 1 * 50098.3 = 50098.3
-        totalAccountBalance: 0,
+        totalCashInBaseCurrency: 0,
         totalInvestment: 44558.42,
         totalInvestmentValueWithCurrencyEffect: 44558.42,
         value: 50098.3, // 1 * 50098.3 = 50098.3
@@ -182,7 +182,7 @@ describe('PortfolioCalculator', () => {
         netPerformanceInPercentageWithCurrencyEffect: -0.032837340282712,
         netPerformanceWithCurrencyEffect: -1463.18,
         netWorth: 43099.7,
-        totalAccountBalance: 0,
+        totalCashInBaseCurrency: 0,
         totalInvestment: 44558.42,
         totalInvestmentValueWithCurrencyEffect: 44558.42,
         value: 43099.7,
diff --git a/apps/api/src/app/portfolio/calculator/roai/portfolio-calculator-cash.spec.ts b/apps/api/src/app/portfolio/calculator/roai/portfolio-calculator-cash.spec.ts
index d5d5ef439..5ae61590b 100644
--- a/apps/api/src/app/portfolio/calculator/roai/portfolio-calculator-cash.spec.ts
+++ b/apps/api/src/app/portfolio/calculator/roai/portfolio-calculator-cash.spec.ts
@@ -301,8 +301,10 @@ describe('PortfolioCalculator', () => {
 
       /**
        * Value with currency effect: 2000 USD * 0.91 = 1820 CHF
-       * Net worth: 1820 CHF - 0 CHF (liabilities) = 1820 CHF
-       * Total account balance: 1800 CHF (balance in base currency on 2024-12-31)
+       * Net worth: 1820 CHF (the cash is included in the value and therefore
+       * not added on top of it again)
+       * Cash in base currency: 2000 USD * 0.91 = 1820 CHF (the whole portfolio
+       * consists of cash, hence it matches the value)
        * Net performance with currency effect: 70 CHF / 852.45 CHF ≈ 8.21 %
        */
       expect(lastDataItem).toEqual({
@@ -313,7 +315,7 @@ describe('PortfolioCalculator', () => {
         netPerformanceInPercentageWithCurrencyEffect: 0.08211603004634808,
         netPerformanceWithCurrencyEffect: 70,
         netWorth: 1820,
-        totalAccountBalance: 1800,
+        totalCashInBaseCurrency: 1820,
         totalInvestment: 1820,
         totalInvestmentValueWithCurrencyEffect: 1750,
         value: 1820,
diff --git a/apps/api/src/app/portfolio/calculator/roai/portfolio-calculator-liability.spec.ts b/apps/api/src/app/portfolio/calculator/roai/portfolio-calculator-liability.spec.ts
index 51a4c0368..94654af61 100644
--- a/apps/api/src/app/portfolio/calculator/roai/portfolio-calculator-liability.spec.ts
+++ b/apps/api/src/app/portfolio/calculator/roai/portfolio-calculator-liability.spec.ts
@@ -113,14 +113,6 @@ describe('PortfolioCalculator', () => {
       expect(portfolioSnapshot.totalLiabilitiesWithCurrencyEffect).toEqual(
         new Big(3000)
       );
-
-      /**
-       * Net worth: 0 USD (current value) - 3000 USD (liabilities) = -3000 USD
-       */
-      expect(portfolioSnapshot.historicalData.at(-1)).toMatchObject({
-        netWorth: -3000,
-        valueWithCurrencyEffect: 0
-      });
     });
   });
 });
diff --git a/apps/api/src/app/portfolio/calculator/roai/portfolio-calculator-novn-buy-and-sell.spec.ts b/apps/api/src/app/portfolio/calculator/roai/portfolio-calculator-novn-buy-and-sell.spec.ts
index f86b23d9a..10cc2da01 100644
--- a/apps/api/src/app/portfolio/calculator/roai/portfolio-calculator-novn-buy-and-sell.spec.ts
+++ b/apps/api/src/app/portfolio/calculator/roai/portfolio-calculator-novn-buy-and-sell.spec.ts
@@ -142,7 +142,7 @@ describe('PortfolioCalculator', () => {
         netPerformanceInPercentageWithCurrencyEffect: 0,
         netPerformanceWithCurrencyEffect: 0,
         netWorth: 0,
-        totalAccountBalance: 0,
+        totalCashInBaseCurrency: 0,
         totalInvestment: 0,
         totalInvestmentValueWithCurrencyEffect: 0,
         value: 0,
@@ -161,7 +161,7 @@ describe('PortfolioCalculator', () => {
         netPerformanceInPercentageWithCurrencyEffect: 0.158311345646438, // 24 ÷ 151.6 = 0.158311345646438
         netPerformanceWithCurrencyEffect: 24,
         netWorth: 175.6, // 2 * 87.8 = 175.6
-        totalAccountBalance: 0,
+        totalCashInBaseCurrency: 0,
         totalInvestment: 151.6,
         totalInvestmentValueWithCurrencyEffect: 151.6,
         value: 175.6, // 2 * 87.8 = 175.6
@@ -180,7 +180,7 @@ describe('PortfolioCalculator', () => {
         netPerformanceInPercentageWithCurrencyEffect: 0.13100263852242744,
         netPerformanceWithCurrencyEffect: 19.86,
         netWorth: 0,
-        totalAccountBalance: 0,
+        totalCashInBaseCurrency: 0,
         totalInvestment: 0,
         totalInvestmentValueWithCurrencyEffect: 0,
         value: 0,
diff --git a/libs/common/src/lib/interfaces/historical-data-item.interface.ts b/libs/common/src/lib/interfaces/historical-data-item.interface.ts
index 0b45cf0b7..adb5b7e65 100644
--- a/libs/common/src/lib/interfaces/historical-data-item.interface.ts
+++ b/libs/common/src/lib/interfaces/historical-data-item.interface.ts
@@ -11,7 +11,7 @@ export interface HistoricalDataItem {
   netWorth?: number;
   netWorthInPercentage?: number;
   quantity?: number;
-  totalAccountBalance?: number;
+  totalCashInBaseCurrency?: number;
   totalInvestment?: number;
   totalInvestmentValueWithCurrencyEffect?: number;
   value?: number;

From 07da67d86975c44089ae05ea36eacaf43fba6f36 Mon Sep 17 00:00:00 2001
From: Thomas Kaul <4159106+dtslvr@users.noreply.github.com>
Date: Thu, 16 Jul 2026 11:56:41 +0200
Subject: [PATCH 09/10] Update changelog

---
 CHANGELOG.md | 1 -
 1 file changed, 1 deletion(-)

diff --git a/CHANGELOG.md b/CHANGELOG.md
index 00340c890..63922ad72 100644
--- a/CHANGELOG.md
+++ b/CHANGELOG.md
@@ -10,7 +10,6 @@ and this project adheres to [Semantic Versioning](https://semver.org/spec/v2.0.0
 ### Changed
 
 - Included cash in the performance calculation of the portfolio
-- Considered liabilities in the net worth calculation of the portfolio
 
 ## 3.27.0 - 2026-07-15
 

From 31b9a360d26c43a711c74c1dbf164c6e0c617fb2 Mon Sep 17 00:00:00 2001
From: Thomas Kaul <4159106+dtslvr@users.noreply.github.com>
Date: Thu, 16 Jul 2026 19:11:30 +0200
Subject: [PATCH 10/10] Include cash in portfolio performance

---
 .../roai/portfolio-calculator-cash.spec.ts       | 16 +++-------------
 1 file changed, 3 insertions(+), 13 deletions(-)

diff --git a/apps/api/src/app/portfolio/calculator/roai/portfolio-calculator-cash.spec.ts b/apps/api/src/app/portfolio/calculator/roai/portfolio-calculator-cash.spec.ts
index 2dcd7565e..551189fcc 100644
--- a/apps/api/src/app/portfolio/calculator/roai/portfolio-calculator-cash.spec.ts
+++ b/apps/api/src/app/portfolio/calculator/roai/portfolio-calculator-cash.spec.ts
@@ -139,7 +139,7 @@ describe('PortfolioCalculator', () => {
   });
 
   describe('Cash Performance', () => {
-    const computePortfolioSnapshot = async () => {
+    it('should calculate performance for cash assets in CHF default currency', async () => {
       jest.useFakeTimers().setSystemTime(parseDate('2025-01-01').getTime());
 
       const accountId = randomUUID();
@@ -219,11 +219,7 @@ describe('PortfolioCalculator', () => {
         userId: userDummyData.id
       });
 
-      return portfolioCalculator.computeSnapshot();
-    };
-
-    it('should calculate performance for cash assets in CHF default currency', async () => {
-      const portfolioSnapshot = await computePortfolioSnapshot();
+      const portfolioSnapshot = await portfolioCalculator.computeSnapshot();
 
       const position = portfolioSnapshot.positions.find(({ symbol }) => {
         return symbol === 'USD';
@@ -294,12 +290,6 @@ describe('PortfolioCalculator', () => {
         totalInvestment: new Big(1820),
         totalLiabilitiesWithCurrencyEffect: new Big(0)
       });
-    });
-
-    it('should include cash in the net worth and performance without counting it twice', async () => {
-      const portfolioSnapshot = await computePortfolioSnapshot();
-
-      const lastDataItem = portfolioSnapshot.historicalData.at(-1);
 
       /**
        * Value with currency effect: 2000 USD * 0.91 = 1820 CHF
@@ -309,7 +299,7 @@ describe('PortfolioCalculator', () => {
        * consists of cash, hence it matches the value)
        * Net performance with currency effect: 70 CHF / 852.45 CHF ≈ 8.21 %
        */
-      expect(lastDataItem).toEqual({
+      expect(portfolioSnapshot.historicalData.at(-1)).toEqual({
         date: '2025-01-01',
         investmentValueWithCurrencyEffect: 0,
         netPerformance: 0,