On many reloading forums you see "low SD, Low ES..." posted ALL the time. But let's think about what the SD is really telling us before saying that SD is what we need to consider.
What does Standard Deviation really mean and how useful would it be by itself?
From Wikipedia:
<span style="font-style: italic">In probability theory and statistics, the standard deviation of a statistical population, a data set, or a probability distribution is the square root of its variance. Standard deviation is a widely used measure of the variability or dispersion, being algebraically more tractable though practically less robust than the expected deviation or average absolute deviation.[citation needed]
It shows how much variation there is from the "average" (mean, or expected/budgeted value). A low standard deviation indicates that the data points tend to be very close to the mean, whereas high standard deviation indicates that the data is spread out over a large range of values.</span>
Here's another thing to consider: <span style="font-weight: bold">SD in and of itself is not particularly noteworthy unless you have a good idea of what SD number you need to have a high confidence level</span> and this is where % variance comes in.
SD/MV is far more useful for determining acceptable levels in a load and for comparing various loads for precision level shooting.
To make my argument a little easier to discuss, let's talk about a 308 and a 30-06 shooting the same bullet, the 175 SMK. These are both very common loads and I'll put in what is considered "good" load results with data that I regularly see from my 30-06 and my friend's 308. Assume both loads are top notch and shoot bugholes in the rifles.
308: 175 SMK @ 2650 fps avg, ES = 25fps, SD = 12 fps
30-06: 175 SMK @ 2950 fps avg, ES = 25fps, SD = 12 fps
If you only apply comparison of the SD values these loads seem identical, but look at the % variance calculation instead.
% variance = SD/MV_avg*100
308: 12/2650*100 = 0.453%
30-06: 12/2950*100 = 0.406%
Now, those numbers both look very small, but let's talk about how different they are in relative terms (% difference)
[(0.406-0.453)/0.406]*100 = -11.6%
This means that while the SD comparison says the loads are identical, the 30-06 load actually has 11.6% LESS variance around it's average MV as opposed to the 308.
A more abrupt comparison would be to do a subsonic 308 vs. a full bore 308 with otherwise identical ES and SD numbers.
MV = 1000 fps vs. 2650 fps with SD = 12?
%subsonic = 12/1000*100 = 1.2%
%fullbore = 12/2650*100 = 0.453%
%difference = [(0.453-1.2)/0.453]*100 = 165% LESS variance.
So here's the bottom line:
If you have the same bullet, same load and very similar MV's that you're comparing then saying "my SD and ES are tighter on load A" is acceptable because all the other terms cancel out of the equation.
If you say "This 308 load is tighter in ES and SD than that 300 WM load because it has x fps smaller SD than the 300 WM, even though I'm shooting a 175 SMK and the 300 WM is shooting a 190 or 210 class" you could (small chance) be correct but mostly you're going to be wrong in actual application.
Take the % variance check and the SD check and look at the vertical dispersion at long distance using JBM to verify it for yourself if you feel the need.
The number you should shoot for is % variance of 0.5% or less.
This application of SD/V was something that I've started using based upon the recommendations/discussions with Ply1951Guy.
What does Standard Deviation really mean and how useful would it be by itself?
From Wikipedia:
<span style="font-style: italic">In probability theory and statistics, the standard deviation of a statistical population, a data set, or a probability distribution is the square root of its variance. Standard deviation is a widely used measure of the variability or dispersion, being algebraically more tractable though practically less robust than the expected deviation or average absolute deviation.[citation needed]
It shows how much variation there is from the "average" (mean, or expected/budgeted value). A low standard deviation indicates that the data points tend to be very close to the mean, whereas high standard deviation indicates that the data is spread out over a large range of values.</span>
Here's another thing to consider: <span style="font-weight: bold">SD in and of itself is not particularly noteworthy unless you have a good idea of what SD number you need to have a high confidence level</span> and this is where % variance comes in.
SD/MV is far more useful for determining acceptable levels in a load and for comparing various loads for precision level shooting.
To make my argument a little easier to discuss, let's talk about a 308 and a 30-06 shooting the same bullet, the 175 SMK. These are both very common loads and I'll put in what is considered "good" load results with data that I regularly see from my 30-06 and my friend's 308. Assume both loads are top notch and shoot bugholes in the rifles.
308: 175 SMK @ 2650 fps avg, ES = 25fps, SD = 12 fps
30-06: 175 SMK @ 2950 fps avg, ES = 25fps, SD = 12 fps
If you only apply comparison of the SD values these loads seem identical, but look at the % variance calculation instead.
% variance = SD/MV_avg*100
308: 12/2650*100 = 0.453%
30-06: 12/2950*100 = 0.406%
Now, those numbers both look very small, but let's talk about how different they are in relative terms (% difference)
[(0.406-0.453)/0.406]*100 = -11.6%
This means that while the SD comparison says the loads are identical, the 30-06 load actually has 11.6% LESS variance around it's average MV as opposed to the 308.
A more abrupt comparison would be to do a subsonic 308 vs. a full bore 308 with otherwise identical ES and SD numbers.
MV = 1000 fps vs. 2650 fps with SD = 12?
%subsonic = 12/1000*100 = 1.2%
%fullbore = 12/2650*100 = 0.453%
%difference = [(0.453-1.2)/0.453]*100 = 165% LESS variance.
So here's the bottom line:
If you have the same bullet, same load and very similar MV's that you're comparing then saying "my SD and ES are tighter on load A" is acceptable because all the other terms cancel out of the equation.
If you say "This 308 load is tighter in ES and SD than that 300 WM load because it has x fps smaller SD than the 300 WM, even though I'm shooting a 175 SMK and the 300 WM is shooting a 190 or 210 class" you could (small chance) be correct but mostly you're going to be wrong in actual application.
Take the % variance check and the SD check and look at the vertical dispersion at long distance using JBM to verify it for yourself if you feel the need.
The number you should shoot for is % variance of 0.5% or less.
This application of SD/V was something that I've started using based upon the recommendations/discussions with Ply1951Guy.