{"id":7200,"date":"2025-06-20T08:01:55","date_gmt":"2025-06-20T07:01:55","guid":{"rendered":"https:\/\/eiqf.de\/blog\/standard-deviation-in-risk-management-why-statistics-are-invaluable\/"},"modified":"2026-02-20T08:24:17","modified_gmt":"2026-02-20T07:24:17","slug":"standard-deviation-in-risk-management-why-statistics-are-invaluable","status":"publish","type":"post","link":"https:\/\/eiqf.de\/en\/blog\/standard-deviation-in-risk-management-why-statistics-are-invaluable\/","title":{"rendered":"Standard Deviation in Risk Management: Why Statistics are Invaluable"},"content":{"rendered":"\t\t<div data-elementor-type=\"wp-post\" data-elementor-id=\"7200\" class=\"elementor elementor-7200 elementor-6394\" data-elementor-post-type=\"post\">\n\t\t\t\t<div class=\"elementor-element elementor-element-c60b7e6 creative-section e-con-full e-flex e-con e-parent\" data-id=\"c60b7e6\" data-element_type=\"container\" data-e-type=\"container\" 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href=\"https:\/\/eiqf.de\/wp-content\/uploads\/2025\/06\/DIE-STANDARDABWEICHUNG-ALS-SCHLUSSEL-ZUM-RISIKOMANAGEMENT.pdf\">\n\n\t\t\t\t\t\t\t\t\t\t\t\t<span class=\"elementor-icon-list-icon\">\n\t\t\t\t\t\t\t<svg aria-hidden=\"true\" class=\"e-font-icon-svg e-fas-file-pdf\" viewBox=\"0 0 384 512\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\"><path d=\"M181.9 256.1c-5-16-4.9-46.9-2-46.9 8.4 0 7.6 36.9 2 46.9zm-1.7 47.2c-7.7 20.2-17.3 43.3-28.4 62.7 18.3-7 39-17.2 62.9-21.9-12.7-9.6-24.9-23.4-34.5-40.8zM86.1 428.1c0 .8 13.2-5.4 34.9-40.2-6.7 6.3-29.1 24.5-34.9 40.2zM248 160h136v328c0 13.3-10.7 24-24 24H24c-13.3 0-24-10.7-24-24V24C0 10.7 10.7 0 24 0h200v136c0 13.2 10.8 24 24 24zm-8 171.8c-20-12.2-33.3-29-42.7-53.8 4.5-18.5 11.6-46.6 6.2-64.2-4.7-29.4-42.4-26.5-47.8-6.8-5 18.3-.4 44.1 8.1 77-11.6 27.6-28.7 64.6-40.8 85.8-.1 0-.1.1-.2.1-27.1 13.9-73.6 44.5-54.5 68 5.6 6.9 16 10 21.5 10 17.9 0 35.7-18 61.1-61.8 25.8-8.5 54.1-19.1 79-23.2 21.7 11.8 47.1 19.5 64 19.5 29.2 0 31.2-32 19.7-43.4-13.9-13.6-54.3-9.7-73.6-7.2zM377 105L279 7c-4.5-4.5-10.6-7-17-7h-6v128h128v-6.1c0-6.3-2.5-12.4-7-16.9zm-74.1 255.3c4.1-2.7-2.5-11.9-42.8-9 37.1 15.8 42.8 9 42.8 9z\"><\/path><\/svg>\t\t\t\t\t\t<\/span>\n\t\t\t\t\t\t\t\t\t\t<span class=\"elementor-icon-list-text\">Standard Deviation Risk Management<\/span>\n\t\t\t\t\t\t\t\t\t\t\t<\/a>\n\t\t\t\t\t\t\t\t\t<\/li>\n\t\t\t\t\t\t<\/ul>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t<div class=\"elementor-element elementor-element-0de1bdb e-con-full e-flex e-con e-parent\" data-id=\"0de1bdb\" data-element_type=\"container\" data-e-type=\"container\">\n\t\t<div class=\"elementor-element elementor-element-505636d e-flex e-con-boxed e-con e-child\" data-id=\"505636d\" data-element_type=\"container\" data-e-type=\"container\">\n\t\t\t\t\t<div class=\"e-con-inner\">\n\t\t<div class=\"elementor-element elementor-element-39162ec e-con-full e-flex e-con e-child\" data-id=\"39162ec\" data-element_type=\"container\" data-e-type=\"container\">\n\t\t\t\t<div class=\"elementor-element elementor-element-b893cda elementor-toc--content-ellipsis elementor-toc--minimized-on-tablet elementor-widget elementor-widget-table-of-contents\" data-id=\"b893cda\" data-element_type=\"widget\" data-e-type=\"widget\" data-settings=\"{&quot;headings_by_tags&quot;:[&quot;h2&quot;],&quot;exclude_headings_by_selector&quot;:[],&quot;no_headings_message&quot;:&quot;No headings were found on this page.&quot;,&quot;marker_view&quot;:&quot;numbers&quot;,&quot;minimize_box&quot;:&quot;yes&quot;,&quot;minimized_on&quot;:&quot;tablet&quot;,&quot;hierarchical_view&quot;:&quot;yes&quot;,&quot;min_height&quot;:{&quot;unit&quot;:&quot;px&quot;,&quot;size&quot;:&quot;&quot;,&quot;sizes&quot;:[]},&quot;min_height_tablet&quot;:{&quot;unit&quot;:&quot;px&quot;,&quot;size&quot;:&quot;&quot;,&quot;sizes&quot;:[]},&quot;min_height_mobile&quot;:{&quot;unit&quot;:&quot;px&quot;,&quot;size&quot;:&quot;&quot;,&quot;sizes&quot;:[]}}\" data-widget_type=\"table-of-contents.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t<div class=\"elementor-toc__header\">\n\t\t\t\t\t\t<h4 class=\"elementor-toc__header-title\">\n\t\t\t\tTable of Contents\t\t\t<\/h4>\n\t\t\t\t\t\t\t\t\t\t<div class=\"elementor-toc__toggle-button elementor-toc__toggle-button--expand\" role=\"button\" tabindex=\"0\" aria-controls=\"elementor-toc__b893cda\" aria-expanded=\"true\" aria-label=\"Open table 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9.317-33.901-.04l-22.667-22.667c-9.373-9.373-9.373-24.569 0-33.941L207.03 130.525c9.372-9.373 24.568-9.373 33.941-.001z\"><\/path><\/svg><\/div>\n\t\t\t\t\t<\/div>\n\t\t\t\t<div id=\"elementor-toc__b893cda\" class=\"elementor-toc__body\">\n\t\t\t<div class=\"elementor-toc__spinner-container\">\n\t\t\t\t<svg class=\"elementor-toc__spinner eicon-animation-spin e-font-icon-svg e-eicon-loading\" aria-hidden=\"true\" viewBox=\"0 0 1000 1000\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\"><path d=\"M500 975V858C696 858 858 696 858 500S696 142 500 142 142 304 142 500H25C25 237 238 25 500 25S975 237 975 500 763 975 500 975Z\"><\/path><\/svg>\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t<div class=\"elementor-element elementor-element-a54b4e3 e-con-full e-flex e-con e-parent\" data-id=\"a54b4e3\" data-element_type=\"container\" data-e-type=\"container\">\n\t\t\t\t<div class=\"elementor-element elementor-element-b1f526d elementor-icon-list--layout-traditional elementor-list-item-link-full_width elementor-widget elementor-widget-icon-list\" data-id=\"b1f526d\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"icon-list.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t<ul class=\"elementor-icon-list-items\">\n\t\t\t\t\t\t\t<li class=\"elementor-icon-list-item\">\n\t\t\t\t\t\t\t\t\t\t\t<span class=\"elementor-icon-list-icon\">\n\t\t\t\t\t\t\t<svg aria-hidden=\"true\" class=\"e-font-icon-svg e-far-lightbulb\" viewBox=\"0 0 352 512\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\"><path d=\"M176 80c-52.94 0-96 43.06-96 96 0 8.84 7.16 16 16 16s16-7.16 16-16c0-35.3 28.72-64 64-64 8.84 0 16-7.16 16-16s-7.16-16-16-16zM96.06 459.17c0 3.15.93 6.22 2.68 8.84l24.51 36.84c2.97 4.46 7.97 7.14 13.32 7.14h78.85c5.36 0 10.36-2.68 13.32-7.14l24.51-36.84c1.74-2.62 2.67-5.7 2.68-8.84l.05-43.18H96.02l.04 43.18zM176 0C73.72 0 0 82.97 0 176c0 44.37 16.45 84.85 43.56 115.78 16.64 18.99 42.74 58.8 52.42 92.16v.06h48v-.12c-.01-4.77-.72-9.51-2.15-14.07-5.59-17.81-22.82-64.77-62.17-109.67-20.54-23.43-31.52-53.15-31.61-84.14-.2-73.64 59.67-128 127.95-128 70.58 0 128 57.42 128 128 0 30.97-11.24 60.85-31.65 84.14-39.11 44.61-56.42 91.47-62.1 109.46a47.507 47.507 0 0 0-2.22 14.3v.1h48v-.05c9.68-33.37 35.78-73.18 52.42-92.16C335.55 260.85 352 220.37 352 176 352 78.8 273.2 0 176 0z\"><\/path><\/svg>\t\t\t\t\t\t<\/span>\n\t\t\t\t\t\t\t\t\t\t<span class=\"elementor-icon-list-text\">Insights and Strategies from EIQF: Standard Deviation as the Key to Risk Management<\/span>\n\t\t\t\t\t\t\t\t\t<\/li>\n\t\t\t\t\t\t<\/ul>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t<div class=\"elementor-element elementor-element-0302702 e-con-full e-flex e-con e-child\" data-id=\"0302702\" data-element_type=\"container\" data-e-type=\"container\">\n\t\t\t\t<div class=\"elementor-element elementor-element-516e6dc elementor-widget elementor-widget-text-editor\" data-id=\"516e6dc\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t<p>Many reluctantly recall their statistics lectures: formulas, variance, standard deviation \u2013 and the question: What&#8217;s the point of it all? However, standard deviation holds a real treasure: it is a central tool in modern risk management. <\/p><p>In this edition of &#8220;Insights and Strategies from EIQF,&#8221; we show why standard deviation is more than just an abstract calculation \u2013 it is the mathematical expression of risk.<\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t<div class=\"elementor-element elementor-element-d07abb0 e-con-full e-flex e-con e-child\" data-id=\"d07abb0\" data-element_type=\"container\" data-e-type=\"container\">\n\t\t\t\t<div class=\"elementor-element elementor-element-6249f3c elementor-widget elementor-widget-heading\" data-id=\"6249f3c\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t<h2 class=\"elementor-heading-title elementor-size-default\">What is Risk? A Scientific Definition <\/h2>\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t<div class=\"elementor-element elementor-element-24dc752 e-con-full e-flex e-con e-child\" data-id=\"24dc752\" data-element_type=\"container\" data-e-type=\"container\">\n\t\t<div class=\"elementor-element elementor-element-7ae0407 e-con-full e-flex e-con e-child\" data-id=\"7ae0407\" data-element_type=\"container\" data-e-type=\"container\">\n\t\t<div class=\"elementor-element elementor-element-5c69460 e-con-full e-flex e-con e-child\" data-id=\"5c69460\" data-element_type=\"container\" data-e-type=\"container\">\n\t\t\t\t<div class=\"elementor-element elementor-element-ebbd8f9 elementor-widget elementor-widget-text-editor\" data-id=\"ebbd8f9\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t<p>In everyday life, we usually understand risk as a threat. In financial science, however, the definition is more neutral \u2013 and more precise: <\/p><p><strong>Risk is the deviation from the expected value.<\/strong><\/p><p>This means: Risk can swing both upwards (opportunity) and downwards (danger). This perspective is central to professional risk management. <\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t<div class=\"elementor-element elementor-element-705fa3a e-con-full e-flex e-con e-child\" data-id=\"705fa3a\" data-element_type=\"container\" data-e-type=\"container\">\n\t\t<div class=\"elementor-element elementor-element-156422f e-con-full e-flex e-con e-child\" data-id=\"156422f\" data-element_type=\"container\" data-e-type=\"container\">\n\t\t\t\t<div class=\"elementor-element elementor-element-40d5a64 elementor-widget elementor-widget-heading\" data-id=\"40d5a64\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t<h2 class=\"elementor-heading-title elementor-size-default\">Standard Deviation: The Mathematics Behind Risk<\/h2>\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-e752676 elementor-widget elementor-widget-text-editor\" data-id=\"e752676\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t<p>And this is precisely where standard deviation comes into play: it measures how much individual values deviate from the expected value on average \u2013 which is exactly what risk means. <br><br><\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-744837a elementor-widget elementor-widget-heading\" data-id=\"744837a\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t<h3 class=\"elementor-heading-title elementor-size-default\">\nThe five steps to standard deviation:<\/h3>\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-3ab5a75 elementor-widget elementor-widget-text-editor\" data-id=\"3ab5a75\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t<ol><li>Calculate the deviation of each value from the mean.<br>\u2192 This can be positive or negative.<\/li><li>Square each deviation.<br>\u2192 This makes all deviations positive \u2013 regardless of direction.<\/li><li>Sum all squared deviations.<\/li><li>Divide by the number of values (or n\u20131 for samples).<br>\u2192 This gives the variance.<\/li><li> Take the square root of the variance.<br>\u2192 Voil\u00e0: The standard deviation!<\/li><\/ol><p><strong>This makes it clear: <\/strong><strong>Standard deviation is the scientific definition of risk \u2013 expressed in numbers. <\/strong> <\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t<div class=\"elementor-element elementor-element-d600b93 e-con-full e-flex e-con e-child\" data-id=\"d600b93\" data-element_type=\"container\" data-e-type=\"container\" data-settings=\"{&quot;background_background&quot;:&quot;classic&quot;}\">\n\t\t\t\t<div class=\"elementor-element elementor-element-91618cf elementor-widget elementor-widget-text-editor\" data-id=\"91618cf\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t<p data-start=\"2897\" data-end=\"3251\">Download the Standard Deviation in Risk Management here<\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-5632da2 elementor-align-center elementor-icon-list--layout-traditional elementor-list-item-link-full_width elementor-widget elementor-widget-icon-list\" data-id=\"5632da2\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"icon-list.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t<ul class=\"elementor-icon-list-items\">\n\t\t\t\t\t\t\t<li class=\"elementor-icon-list-item\">\n\t\t\t\t\t\t\t\t\t\t\t<a href=\"https:\/\/eiqf.de\/wp-content\/uploads\/2025\/06\/DIE-STANDARDABWEICHUNG-ALS-SCHLUSSEL-ZUM-RISIKOMANAGEMENT.pdf\">\n\n\t\t\t\t\t\t\t\t\t\t\t\t<span class=\"elementor-icon-list-icon\">\n\t\t\t\t\t\t\t<svg aria-hidden=\"true\" class=\"e-font-icon-svg e-fas-file-pdf\" viewBox=\"0 0 384 512\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\"><path d=\"M181.9 256.1c-5-16-4.9-46.9-2-46.9 8.4 0 7.6 36.9 2 46.9zm-1.7 47.2c-7.7 20.2-17.3 43.3-28.4 62.7 18.3-7 39-17.2 62.9-21.9-12.7-9.6-24.9-23.4-34.5-40.8zM86.1 428.1c0 .8 13.2-5.4 34.9-40.2-6.7 6.3-29.1 24.5-34.9 40.2zM248 160h136v328c0 13.3-10.7 24-24 24H24c-13.3 0-24-10.7-24-24V24C0 10.7 10.7 0 24 0h200v136c0 13.2 10.8 24 24 24zm-8 171.8c-20-12.2-33.3-29-42.7-53.8 4.5-18.5 11.6-46.6 6.2-64.2-4.7-29.4-42.4-26.5-47.8-6.8-5 18.3-.4 44.1 8.1 77-11.6 27.6-28.7 64.6-40.8 85.8-.1 0-.1.1-.2.1-27.1 13.9-73.6 44.5-54.5 68 5.6 6.9 16 10 21.5 10 17.9 0 35.7-18 61.1-61.8 25.8-8.5 54.1-19.1 79-23.2 21.7 11.8 47.1 19.5 64 19.5 29.2 0 31.2-32 19.7-43.4-13.9-13.6-54.3-9.7-73.6-7.2zM377 105L279 7c-4.5-4.5-10.6-7-17-7h-6v128h128v-6.1c0-6.3-2.5-12.4-7-16.9zm-74.1 255.3c4.1-2.7-2.5-11.9-42.8-9 37.1 15.8 42.8 9 42.8 9z\"><\/path><\/svg>\t\t\t\t\t\t<\/span>\n\t\t\t\t\t\t\t\t\t\t<span class=\"elementor-icon-list-text\">Standard Deviation Risk Management<\/span>\n\t\t\t\t\t\t\t\t\t\t\t<\/a>\n\t\t\t\t\t\t\t\t\t<\/li>\n\t\t\t\t\t\t<\/ul>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t<div class=\"elementor-element elementor-element-31f01fe e-con-full e-flex e-con e-child\" data-id=\"31f01fe\" data-element_type=\"container\" data-e-type=\"container\">\n\t\t<div class=\"elementor-element elementor-element-ae821b9 e-con-full e-flex e-con e-child\" data-id=\"ae821b9\" data-element_type=\"container\" data-e-type=\"container\">\n\t\t\t\t<div class=\"elementor-element elementor-element-e4b874f elementor-widget elementor-widget-heading\" data-id=\"e4b874f\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t<h2 class=\"elementor-heading-title elementor-size-default\">Why Standard Deviation is Indispensable in Risk Management<\/h2>\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-5347863 elementor-widget elementor-widget-text-editor\" data-id=\"5347863\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t<p>Especially in finance, it is crucial not only to identify risks but also to measure them quantitatively. Standard deviation allows precisely that: <\/p><ul><li>Measure volatility<\/li><li>Assess risks in portfolios<\/li><li>Analyze scenarios<\/li><li>Compare risk-return ratios<\/li><\/ul><p>Anyone who understands this metric masters one of the most important foundations of quantitative risk management.<\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t<div class=\"elementor-element elementor-element-3a2ea11 e-con-full e-flex e-con e-child\" data-id=\"3a2ea11\" data-element_type=\"container\" data-e-type=\"container\">\n\t\t<div class=\"elementor-element elementor-element-f915272 e-con-full e-flex e-con e-child\" data-id=\"f915272\" data-element_type=\"container\" data-e-type=\"container\">\n\t\t\t\t<div class=\"elementor-element elementor-element-23e819c elementor-widget elementor-widget-heading\" data-id=\"23e819c\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t<h2 class=\"elementor-heading-title elementor-size-default\">More from EIQF: Blog, Videos &amp; Podcasts<\/h2>\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t<div class=\"elementor-element elementor-element-199e7f8 e-con-full e-flex e-con e-child\" data-id=\"199e7f8\" data-element_type=\"container\" data-e-type=\"container\">\n\t\t<div class=\"elementor-element elementor-element-1c37b84 e-con-full e-flex e-con e-child\" data-id=\"1c37b84\" data-element_type=\"container\" data-e-type=\"container\">\n\t\t\t\t<div class=\"elementor-element elementor-element-ab5a1b5 elementor-widget elementor-widget-text-editor\" data-id=\"ab5a1b5\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t<p data-start=\"2897\" data-end=\"3251\">To illustrate, a simple example helps: If a payment of 10 euros occurs for the first time in year t = 1 and then annually towards infinity, the present value is 10\/0.1=100 and refers to the year at t = 0. From this, we can draw the following conclusion. When we discount cash flows, the present value of these payments always refers to the point in time one period before the first cash flow occurs. <\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t<div class=\"elementor-element elementor-element-54b105c e-con-full e-flex e-con e-child\" data-id=\"54b105c\" data-element_type=\"container\" data-e-type=\"container\">\n\t\t\t\t<div class=\"elementor-element elementor-element-c1fbfc7 elementor-widget elementor-widget-text-editor\" data-id=\"c1fbfc7\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t<p data-start=\"2897\" data-end=\"3251\">The same applies to the calculation of the Terminal Value: The TV is the present value of payments in the continuation period, which arise in years t = 6, \u2026, \u221e. The Terminal Value summarizes all future payments from year t = 6 onwards \u2013 however, its calculation refers to the valuation date t = 5, i.e., one period before the first cash flow of the continuation period. <\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t<div class=\"elementor-element elementor-element-5ea0580 e-flex e-con-boxed e-con e-parent\" data-id=\"5ea0580\" data-element_type=\"container\" data-e-type=\"container\" data-settings=\"{&quot;background_background&quot;:&quot;classic&quot;}\">\n\t\t\t\t\t<div class=\"e-con-inner\">\n\t\t\t\t<div class=\"elementor-element elementor-element-d5fe582 elementor-widget elementor-widget-heading\" data-id=\"d5fe582\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t<div class=\"elementor-heading-title elementor-size-default\">Any 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https:\/\/eiqf.de\/wp-content\/uploads\/2026\/02\/KNIFFS-UND-TRICKS-VOM-EIQF-ALPHA-ALLEIN-REICHT-NICHT-\u2013-WARUM-DIE-RESIDUALE-VARIANZ-WICHTIG-IST-1024x598.png 1024w, https:\/\/eiqf.de\/wp-content\/uploads\/2026\/02\/KNIFFS-UND-TRICKS-VOM-EIQF-ALPHA-ALLEIN-REICHT-NICHT-\u2013-WARUM-DIE-RESIDUALE-VARIANZ-WICHTIG-IST-768x448.png 768w, https:\/\/eiqf.de\/wp-content\/uploads\/2026\/02\/KNIFFS-UND-TRICKS-VOM-EIQF-ALPHA-ALLEIN-REICHT-NICHT-\u2013-WARUM-DIE-RESIDUALE-VARIANZ-WICHTIG-IST-1536x896.png 1536w, https:\/\/eiqf.de\/wp-content\/uploads\/2026\/02\/KNIFFS-UND-TRICKS-VOM-EIQF-ALPHA-ALLEIN-REICHT-NICHT-\u2013-WARUM-DIE-RESIDUALE-VARIANZ-WICHTIG-IST-2048x1195.png 2048w\" sizes=\"(max-width: 2346px) 100vw, 2346px\" \/><\/div>\n\t\t<\/a>\n\t\t\t\t<div class=\"elementor-post__text\">\n\t\t\t\t<h3 class=\"elementor-post__title\">\n\t\t\t<a href=\"https:\/\/eiqf.de\/en\/blog\/alpha-in-focus-but-not-alone\/\">\n\t\t\t\tAlpha in focus \u2014 but not alone\t\t\t<\/a>\n\t\t<\/h3>\n\t\t\t\t<div class=\"elementor-post__meta-data\">\n\t\t\t\t\t<span class=\"elementor-post-date\">\n\t\t\tFebruary 25, 2026\t\t<\/span>\n\t\t\t\t<span class=\"elementor-post-time\">\n\t\t\t11:41 am\t\t<\/span>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-post__excerpt\">\n\t\t\t<p>Youtube Linkedin Envelope Table of Contents In private equity and portfolio management, \u201calpha\u201d is considered the key performance indicator: it represents the value added that<\/p>\n\t\t<\/div>\n\t\t\n\t\t<a class=\"elementor-post__read-more\" href=\"https:\/\/eiqf.de\/en\/blog\/alpha-in-focus-but-not-alone\/\" aria-label=\"Read more about Alpha in focus \u2014 but not alone\" tabindex=\"-1\">\n\t\t\tRead More \u00bb\t\t<\/a>\n\n\t\t\t\t<\/div>\n\t\t\t\t<\/article>\n\t\t\t\t<article class=\"elementor-post elementor-grid-item post-6913 post type-post status-publish format-standard has-post-thumbnail hentry category-unkategorisiert\" role=\"listitem\">\n\t\t\t\t<a class=\"elementor-post__thumbnail__link\" href=\"https:\/\/eiqf.de\/en\/blog\/tips-and-tricks-from-eiqf-bessels-correction\/\" tabindex=\"-1\">\n\t\t\t<div class=\"elementor-post__thumbnail\"><img decoding=\"async\" width=\"1500\" height=\"1000\" src=\"https:\/\/eiqf.de\/wp-content\/uploads\/2025\/06\/KniffeTricks-vom-EIQF.png\" class=\"attachment-full size-full wp-image-6914\" alt=\"\" title=\"\" srcset=\"https:\/\/eiqf.de\/wp-content\/uploads\/2025\/06\/KniffeTricks-vom-EIQF.png 1500w, https:\/\/eiqf.de\/wp-content\/uploads\/2025\/06\/KniffeTricks-vom-EIQF-300x200.png 300w, https:\/\/eiqf.de\/wp-content\/uploads\/2025\/06\/KniffeTricks-vom-EIQF-1024x683.png 1024w, https:\/\/eiqf.de\/wp-content\/uploads\/2025\/06\/KniffeTricks-vom-EIQF-768x512.png 768w\" sizes=\"(max-width: 1500px) 100vw, 1500px\" \/><\/div>\n\t\t<\/a>\n\t\t\t\t<div class=\"elementor-post__text\">\n\t\t\t\t<h3 class=\"elementor-post__title\">\n\t\t\t<a href=\"https:\/\/eiqf.de\/en\/blog\/tips-and-tricks-from-eiqf-bessels-correction\/\">\n\t\t\t\tTIPS AND TRICKS FROM EIQF: BESSEL&#8217;S CORRECTION\t\t\t<\/a>\n\t\t<\/h3>\n\t\t\t\t<div class=\"elementor-post__meta-data\">\n\t\t\t\t\t<span class=\"elementor-post-date\">\n\t\t\tFebruary 11, 2026\t\t<\/span>\n\t\t\t\t<span class=\"elementor-post-time\">\n\t\t\t9:04 am\t\t<\/span>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-post__excerpt\">\n\t\t\t<p>Youtube Linkedin Envelope Table of Contents Have you ever wondered why, when calculating the standard deviation, we sometimes divide by \ud835\udcf7 and sometimes by \ud835\udc8f-1?<\/p>\n\t\t<\/div>\n\t\t\n\t\t<a class=\"elementor-post__read-more\" href=\"https:\/\/eiqf.de\/en\/blog\/tips-and-tricks-from-eiqf-bessels-correction\/\" aria-label=\"Read more about TIPS AND TRICKS FROM EIQF: BESSEL&#8217;S CORRECTION\" tabindex=\"-1\">\n\t\t\tRead More \u00bb\t\t<\/a>\n\n\t\t\t\t<\/div>\n\t\t\t\t<\/article>\n\t\t\t\t<article class=\"elementor-post elementor-grid-item post-7210 post type-post status-publish format-standard has-post-thumbnail 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https:\/\/eiqf.de\/wp-content\/uploads\/2026\/02\/DIE-KAPITALFLUSSRECHNUNG-ALS-STEUERUNGS-UND-KONTROLLINSTRUMENT-IN-DER-UNTERNEHMENSPLANUNG-1024x598.png 1024w, https:\/\/eiqf.de\/wp-content\/uploads\/2026\/02\/DIE-KAPITALFLUSSRECHNUNG-ALS-STEUERUNGS-UND-KONTROLLINSTRUMENT-IN-DER-UNTERNEHMENSPLANUNG-768x448.png 768w, https:\/\/eiqf.de\/wp-content\/uploads\/2026\/02\/DIE-KAPITALFLUSSRECHNUNG-ALS-STEUERUNGS-UND-KONTROLLINSTRUMENT-IN-DER-UNTERNEHMENSPLANUNG-1536x897.png 1536w, https:\/\/eiqf.de\/wp-content\/uploads\/2026\/02\/DIE-KAPITALFLUSSRECHNUNG-ALS-STEUERUNGS-UND-KONTROLLINSTRUMENT-IN-DER-UNTERNEHMENSPLANUNG-2048x1196.png 2048w\" sizes=\"(max-width: 2346px) 100vw, 2346px\" \/><\/div>\n\t\t<\/a>\n\t\t\t\t<div class=\"elementor-post__text\">\n\t\t\t\t<h3 class=\"elementor-post__title\">\n\t\t\t<a href=\"https:\/\/eiqf.de\/en\/blog\/our-new-article-in-zfke-the-cash-flow-statement-as-a-management-and-control-instrument-in-corporate-planning-a-case-study-for-a-medium-sized-enterprise\/\">\n\t\t\t\tOUR NEW ARTICLE IN ZfKE: THE CASH FLOW STATEMENT AS A MANAGEMENT AND CONTROL INSTRUMENT IN CORPORATE PLANNING: A CASE STUDY FOR A MEDIUM-SIZED ENTERPRISE\t\t\t<\/a>\n\t\t<\/h3>\n\t\t\t\t<div class=\"elementor-post__meta-data\">\n\t\t\t\t\t<span class=\"elementor-post-date\">\n\t\t\tFebruary 6, 2026\t\t<\/span>\n\t\t\t\t<span class=\"elementor-post-time\">\n\t\t\t9:42 am\t\t<\/span>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-post__excerpt\">\n\t\t\t<p>Youtube Linkedin Envelope Table of Contents In corporate planning practice, the cash flow statement has often been neglected to date, even though it represents a<\/p>\n\t\t<\/div>\n\t\t\n\t\t<a class=\"elementor-post__read-more\" href=\"https:\/\/eiqf.de\/en\/blog\/our-new-article-in-zfke-the-cash-flow-statement-as-a-management-and-control-instrument-in-corporate-planning-a-case-study-for-a-medium-sized-enterprise\/\" aria-label=\"Read more about OUR NEW ARTICLE IN ZfKE: THE CASH FLOW STATEMENT AS A MANAGEMENT AND CONTROL INSTRUMENT IN CORPORATE PLANNING: A CASE STUDY FOR A MEDIUM-SIZED ENTERPRISE\" tabindex=\"-1\">\n\t\t\tRead More \u00bb\t\t<\/a>\n\n\t\t\t\t<\/div>\n\t\t\t\t<\/article>\n\t\t\t\t<article class=\"elementor-post elementor-grid-item post-7207 post type-post status-publish format-standard has-post-thumbnail hentry category-unkategorisiert\" role=\"listitem\">\n\t\t\t\t<a class=\"elementor-post__thumbnail__link\" href=\"https:\/\/eiqf.de\/en\/blog\/book-announcement-practical-handbook-on-expectation-consistent-planning-and-future-performance-planning\/\" tabindex=\"-1\">\n\t\t\t<div class=\"elementor-post__thumbnail\"><img loading=\"lazy\" decoding=\"async\" width=\"1600\" height=\"930\" src=\"https:\/\/eiqf.de\/wp-content\/uploads\/2026\/02\/Erwartungstreue-Planung-und-Zukunftserfolgsplanung.png\" class=\"attachment-full size-full wp-image-7208\" alt=\"\" title=\"\" srcset=\"https:\/\/eiqf.de\/wp-content\/uploads\/2026\/02\/Erwartungstreue-Planung-und-Zukunftserfolgsplanung.png 1600w, https:\/\/eiqf.de\/wp-content\/uploads\/2026\/02\/Erwartungstreue-Planung-und-Zukunftserfolgsplanung-300x174.png 300w, https:\/\/eiqf.de\/wp-content\/uploads\/2026\/02\/Erwartungstreue-Planung-und-Zukunftserfolgsplanung-1024x595.png 1024w, https:\/\/eiqf.de\/wp-content\/uploads\/2026\/02\/Erwartungstreue-Planung-und-Zukunftserfolgsplanung-768x446.png 768w, https:\/\/eiqf.de\/wp-content\/uploads\/2026\/02\/Erwartungstreue-Planung-und-Zukunftserfolgsplanung-1536x893.png 1536w\" sizes=\"(max-width: 1600px) 100vw, 1600px\" \/><\/div>\n\t\t<\/a>\n\t\t\t\t<div class=\"elementor-post__text\">\n\t\t\t\t<h3 class=\"elementor-post__title\">\n\t\t\t<a href=\"https:\/\/eiqf.de\/en\/blog\/book-announcement-practical-handbook-on-expectation-consistent-planning-and-future-performance-planning\/\">\n\t\t\t\tBook announcement: Practical Handbook on Expectation-Consistent Planning and Future Performance Planning\t\t\t<\/a>\n\t\t<\/h3>\n\t\t\t\t<div class=\"elementor-post__meta-data\">\n\t\t\t\t\t<span class=\"elementor-post-date\">\n\t\t\tFebruary 4, 2026\t\t<\/span>\n\t\t\t\t<span class=\"elementor-post-time\">\n\t\t\t12:39 pm\t\t<\/span>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-post__excerpt\">\n\t\t\t<p>Youtube Linkedin Envelope Table of Contents In an increasingly volatile and crisis-prone world, traditional deterministic management planning is reaching its limits. Target-value-oriented planning systematically ignores<\/p>\n\t\t<\/div>\n\t\t\n\t\t<a class=\"elementor-post__read-more\" href=\"https:\/\/eiqf.de\/en\/blog\/book-announcement-practical-handbook-on-expectation-consistent-planning-and-future-performance-planning\/\" aria-label=\"Read more about Book announcement: Practical Handbook on Expectation-Consistent Planning and Future Performance Planning\" tabindex=\"-1\">\n\t\t\tRead More \u00bb\t\t<\/a>\n\n\t\t\t\t<\/div>\n\t\t\t\t<\/article>\n\t\t\t\t<article class=\"elementor-post elementor-grid-item post-7220 post type-post status-publish format-standard has-post-thumbnail hentry category-unkategorisiert\" role=\"listitem\">\n\t\t\t\t<a class=\"elementor-post__thumbnail__link\" href=\"https:\/\/eiqf.de\/en\/blog\/what-does-quantum-mechanics-have-to-do-with-modern-corporate-finance\/\" tabindex=\"-1\">\n\t\t\t<div class=\"elementor-post__thumbnail\"><img loading=\"lazy\" decoding=\"async\" width=\"2308\" height=\"1536\" src=\"https:\/\/eiqf.de\/wp-content\/uploads\/2025\/08\/WAS-HAT-QUANTENMECHANIK-MIT-MODERNEM-CORPORATE-FINANCE.png\" class=\"attachment-full size-full wp-image-7221\" alt=\"\" title=\"\" srcset=\"https:\/\/eiqf.de\/wp-content\/uploads\/2025\/08\/WAS-HAT-QUANTENMECHANIK-MIT-MODERNEM-CORPORATE-FINANCE.png 2308w, https:\/\/eiqf.de\/wp-content\/uploads\/2025\/08\/WAS-HAT-QUANTENMECHANIK-MIT-MODERNEM-CORPORATE-FINANCE-300x200.png 300w, https:\/\/eiqf.de\/wp-content\/uploads\/2025\/08\/WAS-HAT-QUANTENMECHANIK-MIT-MODERNEM-CORPORATE-FINANCE-1024x681.png 1024w, https:\/\/eiqf.de\/wp-content\/uploads\/2025\/08\/WAS-HAT-QUANTENMECHANIK-MIT-MODERNEM-CORPORATE-FINANCE-768x511.png 768w, https:\/\/eiqf.de\/wp-content\/uploads\/2025\/08\/WAS-HAT-QUANTENMECHANIK-MIT-MODERNEM-CORPORATE-FINANCE-1536x1022.png 1536w\" sizes=\"(max-width: 2308px) 100vw, 2308px\" \/><\/div>\n\t\t<\/a>\n\t\t\t\t<div class=\"elementor-post__text\">\n\t\t\t\t<h3 class=\"elementor-post__title\">\n\t\t\t<a href=\"https:\/\/eiqf.de\/en\/blog\/what-does-quantum-mechanics-have-to-do-with-modern-corporate-finance\/\">\n\t\t\t\tWhat Does Quantum Mechanics Have to Do with Modern Corporate Finance?\t\t\t<\/a>\n\t\t<\/h3>\n\t\t\t\t<div class=\"elementor-post__meta-data\">\n\t\t\t\t\t<span class=\"elementor-post-date\">\n\t\t\tAugust 1, 2025\t\t<\/span>\n\t\t\t\t<span class=\"elementor-post-time\">\n\t\t\t7:58 am\t\t<\/span>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-post__excerpt\">\n\t\t\t<p>Youtube Linkedin Envelope Table of Contents Exactly 100 years ago, in 1925, Werner Heisenberg published his groundbreaking article: \ud83d\udc49 &#8220;On the Quantum-Theoretical Reinterpretation of Kinematic<\/p>\n\t\t<\/div>\n\t\t\n\t\t<a class=\"elementor-post__read-more\" href=\"https:\/\/eiqf.de\/en\/blog\/what-does-quantum-mechanics-have-to-do-with-modern-corporate-finance\/\" aria-label=\"Read more about What Does Quantum Mechanics Have to Do with Modern Corporate Finance?\" tabindex=\"-1\">\n\t\t\tRead More \u00bb\t\t<\/a>\n\n\t\t\t\t<\/div>\n\t\t\t\t<\/article>\n\t\t\t\t<article class=\"elementor-post elementor-grid-item post-7074 post type-post status-publish format-standard has-post-thumbnail hentry category-unkategorisiert\" role=\"listitem\">\n\t\t\t\t<a class=\"elementor-post__thumbnail__link\" href=\"https:\/\/eiqf.de\/en\/blog\/semi-standard-deviation-as-a-risk-measure-for-downside-potential-in-companies\/\" tabindex=\"-1\">\n\t\t\t<div class=\"elementor-post__thumbnail\"><img decoding=\"async\" width=\"1500\" height=\"1000\" src=\"https:\/\/eiqf.de\/wp-content\/uploads\/2025\/06\/KniffeTricks-vom-EIQF.png\" class=\"attachment-full size-full wp-image-6914\" alt=\"\" title=\"\" srcset=\"https:\/\/eiqf.de\/wp-content\/uploads\/2025\/06\/KniffeTricks-vom-EIQF.png 1500w, https:\/\/eiqf.de\/wp-content\/uploads\/2025\/06\/KniffeTricks-vom-EIQF-300x200.png 300w, https:\/\/eiqf.de\/wp-content\/uploads\/2025\/06\/KniffeTricks-vom-EIQF-1024x683.png 1024w, https:\/\/eiqf.de\/wp-content\/uploads\/2025\/06\/KniffeTricks-vom-EIQF-768x512.png 768w\" sizes=\"(max-width: 1500px) 100vw, 1500px\" \/><\/div>\n\t\t<\/a>\n\t\t\t\t<div class=\"elementor-post__text\">\n\t\t\t\t<h3 class=\"elementor-post__title\">\n\t\t\t<a href=\"https:\/\/eiqf.de\/en\/blog\/semi-standard-deviation-as-a-risk-measure-for-downside-potential-in-companies\/\">\n\t\t\t\tSEMI-STANDARD DEVIATION AS A RISK MEASURE FOR DOWNSIDE POTENTIAL IN COMPANIES\t\t\t<\/a>\n\t\t<\/h3>\n\t\t\t\t<div class=\"elementor-post__meta-data\">\n\t\t\t\t\t<span class=\"elementor-post-date\">\n\t\t\tJuly 3, 2025\t\t<\/span>\n\t\t\t\t<span class=\"elementor-post-time\">\n\t\t\t9:08 am\t\t<\/span>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-post__excerpt\">\n\t\t\t<p>The semi-standard deviation (also downside deviation) measures the dispersion below a reference value (usually the mean or a target return such as 0%).<\/p>\n\t\t<\/div>\n\t\t\n\t\t<a class=\"elementor-post__read-more\" href=\"https:\/\/eiqf.de\/en\/blog\/semi-standard-deviation-as-a-risk-measure-for-downside-potential-in-companies\/\" aria-label=\"Read more about SEMI-STANDARD DEVIATION AS A RISK MEASURE FOR DOWNSIDE POTENTIAL IN COMPANIES\" tabindex=\"-1\">\n\t\t\tRead More \u00bb\t\t<\/a>\n\n\t\t\t\t<\/div>\n\t\t\t\t<\/article>\n\t\t\t\t<\/div>\n\t\t\n\t\t\t\t<div class=\"e-load-more-anchor\" data-page=\"1\" data-max-page=\"3\" data-next-page=\"https:\/\/eiqf.de\/en\/wp-json\/wp\/v2\/posts\/7200\/page\/2\/\"><\/div>\n\t\t\t\t<nav class=\"elementor-pagination\" aria-label=\"Pagination\">\n\t\t\t<span aria-current=\"page\" class=\"page-numbers current\"><span class=\"elementor-screen-only\">Page<\/span>1<\/span>\n<a class=\"page-numbers\" href=\"https:\/\/eiqf.de\/en\/wp-json\/wp\/v2\/posts\/7200\/page\/2\/\"><span class=\"elementor-screen-only\">Page<\/span>2<\/a>\n<a class=\"page-numbers\" href=\"https:\/\/eiqf.de\/en\/wp-json\/wp\/v2\/posts\/7200\/page\/3\/\"><span class=\"elementor-screen-only\">Page<\/span>3<\/a>\t\t<\/nav>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t","protected":false},"excerpt":{"rendered":"<p>Many reluctantly recall their statistics lectures: formulas, variance, standard deviation \u2013 and the question: What&#8217;s the point of it all? However, standard deviation holds a real treasure: it is a central tool in modern risk management. <\/p>\n","protected":false},"author":4,"featured_media":6914,"comment_status":"closed","ping_status":"open","sticky":false,"template":"elementor_header_footer","format":"standard","meta":{"site-sidebar-layout":"default","site-content-layout":"","ast-site-content-layout":"default","site-content-style":"default","site-sidebar-style":"default","ast-global-header-display":"","ast-banner-title-visibility":"","ast-main-header-display":"","ast-hfb-above-header-display":"","ast-hfb-below-header-display":"","ast-hfb-mobile-header-display":"","site-post-title":"","ast-breadcrumbs-content":"","ast-featured-img":"","footer-sml-layout":"","ast-disable-related-posts":"","theme-transparent-header-meta":"","adv-header-id-meta":"","stick-header-meta":"","header-above-stick-meta":"","header-main-stick-meta":"","header-below-stick-meta":"","astra-migrate-meta-layouts":"default","ast-page-background-enabled":"default","ast-page-background-meta":{"desktop":{"background-color":"var(--ast-global-color-4)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"tablet":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"mobile":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""}},"ast-content-background-meta":{"desktop":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"tablet":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"mobile":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""}},"footnotes":""},"categories":[1],"tags":[],"class_list":["post-7200","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-unkategorisiert"],"_links":{"self":[{"href":"https:\/\/eiqf.de\/en\/wp-json\/wp\/v2\/posts\/7200","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/eiqf.de\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/eiqf.de\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/eiqf.de\/en\/wp-json\/wp\/v2\/users\/4"}],"replies":[{"embeddable":true,"href":"https:\/\/eiqf.de\/en\/wp-json\/wp\/v2\/comments?post=7200"}],"version-history":[{"count":1,"href":"https:\/\/eiqf.de\/en\/wp-json\/wp\/v2\/posts\/7200\/revisions"}],"predecessor-version":[{"id":7203,"href":"https:\/\/eiqf.de\/en\/wp-json\/wp\/v2\/posts\/7200\/revisions\/7203"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/eiqf.de\/en\/wp-json\/wp\/v2\/media\/6914"}],"wp:attachment":[{"href":"https:\/\/eiqf.de\/en\/wp-json\/wp\/v2\/media?parent=7200"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/eiqf.de\/en\/wp-json\/wp\/v2\/categories?post=7200"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/eiqf.de\/en\/wp-json\/wp\/v2\/tags?post=7200"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}