Correspondingly, when calculating the opposite volatility measure—the loss standard deviation, in an analogous way—only the loss outcomes are considered. The gain standard deviation, in essence, is a measure of the upside (ex-post or ex-ante) risk. The higher the gain standard deviation, the higher the variability of the (possible or observed) positive outcomes. Lower values can be interpreted as a rather uniform distribution of the positive outcomes.
|Gain Standard Deviation|