CFA Level 1 - Statistical Concepts &
Market Returns
Measurement Scales - ANS "N" Nominal
"O" Ordinal
"I" Interval
"R" Ratio
Population Mean Formula - ANS
Sample Mean Formula - ANS
Weighted Mean Formula - ANS Used when calculating portfolio return.
Geometric Mean Formula - ANS Used when calculating investment returns over multiple
periods (TWM) or when measuring compound growth rates.
Harmonic < Geometric < Arithmetic
Geometric Mean Return Formula - ANS
Harmonic Mean Formula - ANS Used to compute average cost of shares purchased over time.
Harmonic < Geometric < Arithmetic
Position of a percentile in an array with n entries - ANS
Mean Absolute Deviation Formula (MAD) - ANS
Population Variance Formula - ANS
Population Standard Deviation Formula - ANS
Sample Variance Formula - ANS
Sample Standard Deviation Formula - ANS
Coefficient of Variation Formula - ANS Measures risk (variability) per unit of expected return
(mean). Higher CV is riskier.
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