Formidable Fortress Variance
| KONG ETF | | | USD 31.04 0.16 0.52% |
Variance is another measure of security risk that shows the amount of dispersion of equity returns around their mean value. Variance is calculated as the average squared deviations from the mean. Evaluating a set of investment alternatives one can use variance to help determine the volatility when purchasing a specific security. Similar to Standard Deviation, the variance is a measure of how far a set of numbers is spread out around its mean. Below is Formidable Fortress's current Variance with peer comparisons and related risk metrics.
Current Variance Value
Formidable Fortress has a Variance of 0.7229, indicating low price variability. This places Formidable Fortress at the lower end of the volatility range for ETF.
Variance | = | SUM(RET DEV)2N |
| = | 0.7229 | |
| SUM | = | Summation notation |
| RET DEV | = | Actual returns deviation over selected period |
| N | = | Number of points for the period |
Variance Peers Comparison
Among sector peers, Formidable Fortress's Variance of 0.7229 is below the 6.31 group average. The range runs from 0.1106 (Pacer Swan SOS) to 51.61 (Invesco Multi Strategy Alternative). Formidable Fortress has exhibited less price dispersion than the peer average over the measured period.
Variance Relative To Other Indicators
The chart below plots Variance against Maximum Drawdown for Formidable Fortress and its peers. Each point represents one equity — position along the horizontal axis shows Variance while the vertical axis shows Maximum Drawdown. Equities that cluster in different quadrants carry distinct risk-return profiles. Use the dropdowns to swap in other indicators for either axis.
Formidable Fortress records a Variance of
0.72 and a Maximum Drawdown of
3.92 , yielding roughly
5.43 units of Maximum Drawdown per Variance. This indicates Maximum Drawdown substantially exceeds Variance for Formidable Fortress.
Methodology, Assumptions & Data Sources
Formidable Fortress' Variance currently stands at 0.7229. Formidable Fortress' Variance is computed from historical closing prices over the selected time horizon, applying the indicator's defined mathematical transformation to raw price data. Data sources include daily closing prices from supported exchanges, with standard corporate action adjustments applied. Values are specific to the selected time horizon and may differ across measurement periods. This indicator does not constitute investment advice.
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