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Variance. Variance (Ï 2) is a measure of the dispersion of a set of data points around their mean value. In other words, variance is a mathematical expectation of the average squared deviations from the mean. It is computed by finding the probability-weighted average of squared deviations from the expected value. Variance measures the variability from an average (volatility).
The variance (Ï2), is defined as the sum of the squared distances of each term in the distribution from the mean (Î¼), divided by the number of terms in the distribution (N). There's a more efficient way to calculate the standard deviation for a group of numbers, shown in the following equation: