What is fractile?

A fractile is a specific type of percentile used in statistical analysis. It represents a value in a dataset that splits the data into two parts at a certain point. For example, the median is the 50th fractile, meaning that 50% of the data falls below it and 50% falls above it. Other common fractiles are quartiles (25th, 50th, and 75th) and deciles (10th, 20th, 30th, etc.). Fractiles are useful for understanding the distribution of data and can be used to identify extremes or outliers. They are commonly used in finance for risk analysis and portfolio management.