Consider two investments, the first has equally likely outcomes of $$1,000,$$$1,100,$$$1,200$ and $$1,300.$ The second has outcomes of $)=(10\%)=(40\%)=(40\%$ and $)=(10\%.$

Both investments have the same expected value, but the first's standard deviation is lower than the second$\text{'}$s

The first investment has a higher expected value and higher standard deviation.

Both investments have the same expected value, but the second$\text{'}$s standard deviation is lower than the first's

The second investment has a higher expected value and higher standard deviation.