This study aimed to evaluate the relationship between injury risk, acute load (AL), acute chronic workload ratio (ACWR) and a new proposed ACWR. Design: a retrospective cohort study of the year 2018 was conducted on Argentine first-division soccer players. Participants: Data from 35 players (age = 26.7 ± 4.71 years; height = 176.28 ± 6.09 cm; mass = 74.2 ± 5.27 kg) were recorded; 12 players’ data were analyzed for 1 year, and 23 players’ data were analyzed for 6 months. Interventions: The mean difference of ACWR (MD = 0.22), high-density interval (HDI 95% = (0.07, 0.36)) and AL (MD = 449.23, HDI 95% = (146.41, 751.2)) between groups turned out to be statistically significant. The effect size between groups comparing ACWR and AL was identical (ES = 0.64). Results: The probability of suffering an injury conditioned by ACWR or random ACWR was similar for all estimated quantiles, and the differences between them were not statistically significant. Conclusions: The ACWR ratio, using internal load monitoring, is no better than a synthetic ACWR created from a random denominator to predict the probability of injury. ACWR should not be used in isolation to analyze the causality between load and injury.