APMThe interpretation of Coefficient of Variation

Hi Tutor, Scenario: Coefficient of variation = Standard deviation / Expected value (mean) Investment X = 15% / 20% = 0.75, or 75% Investment Y = 20% / 25% = 0.80, or 80% I understand the interpretation of the risk to reward ratio, i.e. the higher the more relative to the deviation = riskier, but what does coefficient of variation actually tell us, for example: Does it mean there is a 75% chance that the expected value will deviate by 15%? or Does it mean that the expected value will most probably deviate by 75% of the 15% (i.e. 11.3%)? Looking forward for your reply. Many thanks. Best regards, Kenny