High Up Market Capture Ratio is good, because it means the fund manager is able to generate higher than market returns when market is rising. Low Down Market Capture Ratio is good, because it means the fund manager is able to provide some downside risk protection when market is falling. Negative Down Market Ratio means that even in periods when the market fell, the fund on an average gave positive returns, which is always good for investors. Capture Ratio is the ratio of Up Market Capture Ratio and Down Market Capture Ratio. High Capture Ratio is good because it implies good risk adjusted returns. Negative Capture Ratio is also good, provided the negative is on account of Down Market Capture Ratio.