Calculate the coefficient of variation for your data set and compare relative variability using the mean and standard deviation.
Enter your numerical data and select the correct standard deviation type.
The Coefficient of Variation, commonly known as CV, is a statistical measurement that shows the relative amount of variation in a data set. It compares the standard deviation to the mean and expresses the result as a percentage.
Unlike standard deviation alone, the coefficient of variation helps compare variability between data sets that have different averages or different measurement scales.
The calculator first finds the mean of your data values and then calculates the standard deviation. The standard deviation is divided by the mean and multiplied by 100 to produce the coefficient of variation as a percentage.
For population data, σ represents the population standard deviation and μ represents the population mean.
For sample data, s represents the sample standard deviation and x̄ represents the sample mean.
Suppose you have the following values:
The mean of these values is:
If the standard deviation is approximately 2.83, the coefficient of variation is:
A lower coefficient of variation generally indicates that the data values are more consistent and have less relative variability. A higher coefficient of variation indicates greater variability compared with the average value.
The coefficient of variation is particularly useful when comparing multiple data sets. For example, two investments may have different average returns, but CV can help compare their relative level of variability or risk.
A lower CV usually means that the values are relatively close to their mean.
A higher CV usually means that the values are more widely spread relative to their mean.