I have a column of values (actually the ^VIX volatility index values for the past 250 days).
If I want to know where today's value of ^VIX falls within the range over the past 250 days, I can use the PERCENTRANK function.
I recall this equation for doing a similar ranking:
(Today's value - MIN(250 days))/(MAX(250 days) - MIN(250 days))
Yet the answers from the two methods are completely different. Just what, if anything, is my remembered equation calculating?
Thanks.
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