|NVMI -- Israel Stock|| |
ILS 9,347 118.00 1.28%
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Nova Measuring Instruments Ltd has current Mean Deviation of 1.42. 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.
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|SUM|| = || Summation notation|
|RET DEV|| = || Sum of return deviations of Nova Measuring|
|N|| = || Number of calculation points for selected time horizon|
Mean Deviation Comparison
Nova Measuring Instruments Ltd is considered to be number one stock in mean deviation category among related companies. It is currently under evaluation in maximum drawdown category among related companies reporting about 8.23
of Maximum Drawdown per Mean Deviation. The ratio of Maximum Drawdown to Mean Deviation for Nova Measuring Instruments Ltd is roughly 8.23
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.