Volatility as a general concept is straightforward enough, but depending on the specific type of volatility you’re analyzing, in practice it can quickly devolve into complex mathematical formulas — especially in academic circles.

However, in a recent academic article, Professor Javier Estrada from the IESE Business School in Spain proposed a new, easy-to-understand measure of volatility: the gain-loss spread (GLS), a simpler and more intuitive measure of volatility than standard deviation.