# A B C D E F G H I J K L M N O P Q R S T U V W X Y Z
Z-Statistic

The z-statistic is used to measure a fund's discount/premium relative to its average discount/premium. Z = (Current Discount - Average Discount) / Standard Deviation of the Discount. A negative z-score indicates the current discount is lower than the average, and vice versa. The magnitude suggests whether the z-statistic is significant: For instance, a z-statistic of +2 or greater would be expected to occur less than 2.25% of the time.

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