Reconstructing math of famous Cleopatra

Hi all,

I have been reading both posts in Casino Guru and Wizard of Odds about IGT's Cleopatra math, which are both excellent deconstructions and helped me undestand the math.

However, "when you calculate variance, do you need to take into account zero wins or not?"

With zero wins, my tests are very similar to ones posted on Wizard's site:

Without accounting zero's I obviously get different results.

When creating a game engine and calculating variance and standard deviation in order to derive volatility index, should we account for zero wins or not?