Innovation Shares Mean Deviation

EKAR -- USA Etf  

USD 22.05  0.02  0.09%

Innovation Shares mean-deviation technical analysis lookup allows you to check this and other technical indicators for Innovation Shares NextGen Vehic or any other equities. You can select from a set of available technical indicators by clicking on the link to the right. Please note, not all equities are covered by this module due to inconsistencies in global equity categorizations and data normalization technicques. Please check also Equity Screeners to view more equity screening tools
Innovation Shares NextGen Vehic has current Mean Deviation of 0.4533. The mean deviation of 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 destribution of returns.
Mean Deviation 
SUM =   Summation notation
RET DEV =   Sum of return deviations of Innovation Shares
N =   Number of calculation points for selected time horizon

Mean Deviation Comparison

Innovation Shares NextGen Vehic is rated below average in mean deviation as compared to similar ETFs. It is currently under evaluation in maximum drawdown as compared to similar ETFs reporting about  6.50  of Maximum Drawdown per Mean Deviation. The ratio of Maximum Drawdown to Mean Deviation for Innovation Shares NextGen Vehic is roughly  6.50 
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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