Evolve Global Mean Deviation
| BASE Etf | | | CAD 29.03 0.37 1.29% |
Observed values used to calculate the Mean Deviation technical indicator for Evolve Global Materials. Values may reflect normalized price or volume observations.
Evolve Global Materials has current Mean Deviation of 1.2. The mean deviation of the equity instrument is the first measure of the distances between each value of security historical prices and the mean. It gives us an idea of how spread out from the center the distribution of returns.
Mean Deviation | = | SUM(RET DEV)N |
| = | 1.2 | |
| SUM | = | Summation notation |
| RET DEV | = | Sum of return deviations of Evolve Global |
| N | = | Number of calculation points for selected time horizon |
Evolve Global Mean Deviation Peers Comparison
Evolve Mean Deviation Relative To Other Indicators
Evolve Global Materials lands at
#2 in mean deviation against similar ETFs. It is currently under evaluation in maximum drawdown against similar ETFs producing
6.97 in Maximum Drawdown for each unit of Mean Deviation. The spread between Maximum Drawdown and Mean Deviation for Evolve Global Materials sits at
6.97 Mean Deviation is the average of the absolute values of the differences between price distribution numbers and their mean. Mean deviation of equity instrument with a lot of historical data is a biased estimator because the time horizon used in calculation will always be much smaller than the entire price history of the equity. The mean deviation is typically used as a measure of dispersion for small investment horizon, otherwise standard deviation is a better measure of dispersion.
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