Variance in different forms of poker

[henrikrh]

Sorry for the x-post, original post in PT forum.

It seems like variance is a really misused term around here, SNGers say SNGs have high variance, limt players say variance is higher in limit than in NL and NL players say the opposite. So I was hoping someone who understands it very well could make it crystal clear...

1) What is variance in the context of poker?
2) Which form of poker has the highest variance and why?
3) Which has the lowest and why?

[lehighguy]

I play limit, NL, and SnGs.

Limit has the highest variance followed by NL and I believe SnGs have the least variance.

Short games have more variance then full ring.

Variance = ($EV/hour) / ($SD/hour)
You could invert theses, doesn't matter.