Standard deviations

[JeffSpicoli]

I'm trying to calculate my standard deviation for bankroll and other purposes. What's the right measure...standard deviation of $/session or standard deviation of $/hr?

Is there any definitive source for the calculations?

Thanks in advance.

Jeff

[Reef]

It all depends what you're looking for. For example, if the SD comes out to 100 for $/session, you could say that 95% of your sessions will be within + or -$200 of your mean session by Chebyshev's Theorem. That will just give you an idea of your variance.

Calculating it for $/hr would simply give you a range of what you're making (or losing) per hour.