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Quintiles are a statistical technique used to divide a huge set of data into five equal portions, each with the same number of data points. Quintiles are often used in the banking industry. The Latin word "Quintus," which means "fifth," is where the word "quintile" originates. This statistical approach is frequently used in financial analysis to rate performance or assess data dispersion.

For instance, when assessing stock market returns, quintiles can be used to divide the returns of a group of stocks into five equal halves, with each quintile representing 20% of the stocks in the group. This makes it possible to compare the performance of stocks within each quintile and spot patterns or anomalies in the data.

Quintiles can be used to divide a population into five equal portions according to income levels and are frequently employed in the investigation of the income distribution. This might be helpful in examining income disparity and seeing patterns or trends in the distribution of income.