Top 5 Statistical Functions in Excel

top 5 statistical functions in excel

Excel provides a variety of statistical functions, but our goal today is to cover the top 5 of them. Knowing these 5 statistical functions will make your Excel work easier and more enjoyable.

STDEV.P

Calculates standard deviation based on the entire population given as arguments. The standard deviation is a measure of how widely values are dispersed from the average value (the mean).

statistical functions in excel
statistical functions in excel

Trend

statistical functions in excel
statistical functions in excel

TREND calculates the linear trend line through a given set of Y-values and (optionally) a given set of X-values. FORECAST function would do the same for you.

CORREL

Correlation measures the degree to which two securities move in relation to each other.

  • 1 – perfect positive correlation;
  • 0 – no correlations;
  • -1 – negative correlation.
statistical functions in excel
statistical functions in excel



The correlation we got in the example (0.239046) means that both of the stocks have a weak correlation with each other.

RSQ

statistical functions in excel
statistical functions in excel

RSQ (R-squared) is a statistical measurement of the correlation between two sets of values.

RSQ=0.057 in our example means that 5.71% of the variance in Stock A is explained by the variance of Stock B.

Excel Statistical Functions List

A list of Excel Statistical Functions is provided below for your reference:

  • Basic statistical functions: AVERAGE, MEDIAN, MODE, GEOMEAN, HARMEAN, AVEDEV, DEVSQ, STDEV, STDEVP, VAR, VARP, KURT, SKEW, LARGE, MAX, MIN, PERCENTRANK, PERCENTILE, QUARTILE, RANK, SMALL, AVERAGEIF, AVERAGEIFS, COUNT, STANDARDIZE, TRIMMEAN.
  • Correlation and covariance functions: CORREL, COVAR, PEARSON, RSQ, FISHER, FISHERINV.
  • Regression functions: FORECAST, INTERCEPT, SLOPE, TREND, LINEST, STEYX, GROWTH, LOGEST.
  • Other statistical functions: CONFIDENCE, FREQUENCY, PROB

There are dozens of statistical functions in Excel, but knowing the 5 we’ve covered, would already help you dramatically to save your precious time in Excel.

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