The standard WPM formula
Count the final characters that match the target, divide by five, and divide again by elapsed minutes. If you type 300 correct characters in one minute, the result is 60 WPM. Spaces normally count as characters when they are correct.
Raw WPM describes attempted output before uncorrected mistakes are removed. Adjusted or net WPM formulas vary between products, so check the stated methodology before comparing scores.
Why five characters count as one word
Real words vary greatly in length. A fixed five-character unit prevents a passage full of short words from looking artificially fast and gives schools, employers, and practice tools a shared baseline.
The convention improves comparability, but passage difficulty, punctuation, input device, duration, and correction rules still matter. Compare like with like rather than treating every WPM number as interchangeable.
How to get a useful baseline
Use a physical keyboard if that is the skill you want to measure, take at least a 60-second test, and avoid repeatedly restarting until one lucky run appears. Record accuracy alongside WPM.
A longer three- or five-minute run answers a different question: whether pace and control hold after the opening burst. KeyVelocity stores those configurations separately.