Consider two investments, the first has equally likely outcomes of $$1,000,$$$1,100,$$$1,200$ and $$1,300.$ The second has outcomes of $)=(30\%)=(20\%)=(20\%$ and $)=(30\%.$

Both investments have the same expected value, but the first's standard deviation is greater 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 greater than the first's.

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