T

#### TimH

(Expected (Observed) Return - Minimum Acceptable Return(MAR))/Downside

Deviation. Downside Deviation is the Standard Deviation of those returns

that are < MAR. I am familiar with STDEV function and IF function. Is there

a way to embed the IF function into the STDEV function so that it calculates

the STDEV only on the values in the range below a certain level?