The standard deviation and variance vary in a related way since one can be calculated from the other. the standard deviation is always greater than the variance, since the values it uses are always farther apart.

Standard deviation looks at dispersion from the mean. Variance measures the average degree to which each point vary.

Explanation:

Standard deviation measures absolute variability of the dispersion and Variance examines and determines the size of the data spread.  Variance is vital for asset allocation in investing in portfolios while Standard deviation can be used to measure market volatility and security in financial risk programs and actuarial sciences. Deviation simply implies how far it is from the normal. And variance is average of squared differences from the mean.

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