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**I am a bit unsure what to mark this as/title this as. We refer to this type of phenomena as 'volatility' but this apparently has a specific context with regards to statistical phenomena so any suggestions to that will help me as well.

I was wondering if anyone knew the best way to quantify the degree of variability for the following scenario. Suppose we are taking a snap shot of the top 3 best teams in a league of 30 teams every week for 20 weeks.

For example

Week 1:

  1. Team A 0.673
  2. Team B 0.648
  3. Team C 0.637

Week 2:

  1. Team D 0.713
  2. Team A 0.642
  3. Team E 0.596

Week 3:

  1. Team B 0.643
  2. Team D 0.618
  3. Team F 0.598

...

Week 10:

  1. Team F 0.613
  2. Team C 0.602
  3. Team G 0.598

We only know the top 3 teams and cannot infer anything about the rest of the standings. Additionally it would be interesting to see some sort of relation to Top 3 Win % but this isn't a necessity. What would be some methods to calculate the variability of the top 3 positions? In order to potentially offer forecasts for future weeks.

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  • $\begingroup$ I think this is a nonstandard use of the term "volatility". You might want to consider finding a more accurate term for your problem. It could help attract the right people to your question. $\endgroup$
    – Richard Hardy
    Commented Dec 19, 2018 at 8:31
  • $\begingroup$ Are you interested in variation in the top values, or in the set of teams that occupy those positions? $\endgroup$
    – kjetil b halvorsen ♦
    Commented Mar 14, 2019 at 9:42

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