Updated: Feb 17
When analyzing data to generate trade signals, absolute or nominal values mean very little on their own. A VIX index of 15 for example is just a number which gives very little context. Is that high, is it low, with just the value it's hard to tell. What traders should focus on is relative values and where the current value is in relation to its history.
Understanding and calculating Percent Rank is what we want:
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