Now it is preferable for investors to have liquid funds rather than actual currency. Mutual funds are believed to be the most liquid option for investors to store their cash. Numerous publications and research studies have attempted to examine the performance of mutual funds, as well as investors' preferences and attitudes about participating in fund-pooling schemes such as mutual funds. This study sought to discover the Market Return Assessment of India's liquid mutual fund schemes. Even though several scholars have sought to examine the performance of mutual funds and the preferences of individual investors. Here, the research utilised for excess return analysis based on market, mean, standard deviation, and Covariance should be used to determine the excess return of schemes that have been described using market, mean, standard deviation, and Covariance.