Z-scores measure how far a closed-end fund's current discount status is from its average premium or discount.

What is a z-statistic? A z-statistic, or z-score, measures relative discounts and relative premiums for closed-end funds.

Tom Arnold, John H. Earl, Jr. Altman's Z-score is introduced in an Excel framework to produce a quick calculation of the Z-score with actual financial data available through the Internet. The lesson ...

That score is considered to be right at the top of the “good” credit band, just a few points shy of an “excellent” credit score. Millennials and Gen Zers, however, average lower credit scores.