Standard deviation (volatility)
How widely monthly returns have swung around their average, annualised.
Formula
volatility = standard deviation of monthly returns × √12
How MFIC calculates it
Last 36 month-end returns.
How to read it
Higher volatility means a bumpier ride. It says nothing about direction: big up-months raise it as much as big down-months. Compare within a category.
Limitations
Assumes ups and downs are symmetric; real markets have sharper falls than a bell curve implies. See drawdown for the depth of falls.
Standard deviation (volatility) by category today
Spread of standard deviation (volatility) across Regular-plan schemes in each category, calculated by MFIC from AMFI NAVs as of 1 Oct 2026. The middle half of schemes falls between the 25th and 75th percentiles.
| Category (Regular plans) | Schemes | 25th percentile | Median | 75th percentile |
|---|---|---|---|---|
| Large Cap | 32 | 14.1% | 14.3% | 15.1% |
| Large & Mid Cap | 26 | 15.7% | 16.1% | 16.5% |
| Flexi Cap | 36 | 14.7% | 15.6% | 17.0% |
| Multi Cap | 23 | 15.9% | 16.3% | 17.3% |
| Mid Cap | 29 | 17.6% | 18.1% | 18.9% |
| Small Cap | 24 | 18.4% | 19.9% | 20.1% |
| ELSS | 38 | 14.7% | 15.4% | 16.6% |
| Focused | 27 | 14.7% | 15.4% | 16.6% |
| Value | 21 | 14.7% | 15.4% | 16.6% |
| Aggressive Hybrid | 30 | 11.2% | 11.7% | 12.3% |
| Balanced Advantage | 30 | 8.3% | 9.2% | 9.8% |
| Index Fund | 109 | 14.3% | 17.6% | 20.3% |
Use it in MFIC
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Related: Sharpe ratio · Maximum drawdown · Beta · Methodology