Point-to-Point Returns represent the average percentage growth in NAV of a scheme over several past periods. Returns are computed by comparing the NAV at the beginning and the end of the period.

For example, the NAV of a scheme is Rs 10.0000 today, and was Rs 9.5500 one month ago, then the one-month trailing returns today will be computed as (10.00 - 9.55) * 100 / 9.55 = 4.71%. To annualise this, we will multiply by number of months in a year, that is, 4.71 * 12 = 56.52% annualised returns.
Similarly, point-to-point returns can be calculated for any period required by the investor.

Rolling Returns: Calculate returns on a rolling basis for a given time period; a type of moving average which better reflects the volatility in returns