2023 ETF Mean Deviation
| QLTY Etf | | | 36.93 -0.67 -1.78% |
The Mean Deviation lookup presents technical context for The 2023 ETF and related instruments. Data availability can vary by region and feed;
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The 2023 ETF has current Mean Deviation of 0.5777. 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 |
| = | 0.5777 | |
| SUM | = | Summation notation |
| RET DEV | = | Sum of return deviations of 2023 ETF |
| N | = | Number of calculation points for selected time horizon |
2023 ETF Mean Deviation Peers Comparison
2023 Mean Deviation Relative To Other Indicators
The 2023 ETF is rated
below average in mean deviation compared to similar ETFs. It is currently under evaluation in maximum drawdown compared to similar ETFs reporting about
5.85 of Maximum Drawdown per Mean Deviation. At
5.85 , The 2023 ETF's Maximum Drawdown-to-Mean Deviation multiple reflects the spread between these metrics
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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