Risk Glossary
Master Index
The Country-Check Master Index indicates a country’s overall risk score (rated between 1 and 10), and an equivalent risk-banding. The incorporation
of a risk banding function assists users in interpreting results, and is supported by the inclusion of statistical uncertainty measures that allows
for a fuller view of a jurisdiction’s overall risk landscape.
Aggregate Index
The aggregate index comprises the weighted mean of all factor indices.
Factor Index
This is gained form the weighted mean of the constituent dimension values. To determine a factor index on the same scale as the Master Index in this
model, the weights of the other factors should be set to 0.
Dimension Value
The dimension value is the weighted mean of the standardised values of the constituent sources.
Source
This is the original online data for a single measure.
Source Provider
This is the hosting organisation or provider for a given source.
Source Weight
A source weight is the user’s measure of both the accuracy of a source, and its relevance to a specific risk dimension.
User Dimension Weight
The user dimension weight is a user’s measure of the relevance of a dimension with respect to a factor.
System Dimension Weight
This weight is produced by the system from the user dimension weight and associated source weights. It is this value that is used in the basic weighted
mean calculation.
Factor Weight
Factor weight refers to a user’s measure of the relevance of a factor with respect to the overall Master Index.
Source data
These are the values contained in Country-Check data files. These values are gained from the data gathering exercise from sources.
Transformed data
This refers to the system’
s data after one of several available transformations has converted the source data, bringing it closer to a normalised
distribution. In addition, transformed data is such that a high value contributes to a high index.
Standardised data
Standardised data is obtained by taking the transformed data sets and placing them on the same scale.
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