How Do You Measure Player Volatility?
There are two ways to measure volatility: standard deviation and coefficient of variation (CV).
Standard Deviation
Since daily fantasy shares many similarities with investing, here is how Investopedia defines standard deviation:
A measure of the dispersion of a set of data from its mean. The more spread apart the data, the higher the deviation.
To illustrate, let’s do an example. Drew Brees averaged 20.0 FanDuel points per game in 2014, and Ben Roethlisberger averaged 19.7. Below I’ve listed their highest scores (FanDuel scoring) in order from 1-16, their average score, and the standard deviation.
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