This is an important concept to understand when considering your chance of contracting a disease, getting benefit from a procedure or drug, suffering a side-effect or surviving monster surf at Waimea Bay..
What are absolute and relative risks?
Absolute risk of a disease is your risk of developing the disease over a time-period. We all have absolute risks of developing various diseases such as heart disease, cancer, stroke, etc. The same absolute risk can be expressed in different ways. For example, say you have a 1 in 10 risk of developing a certain disease in your life. This can also be said a 10% risk, or a 0.1 risk - depending if you use percentages or decimals.
Relative risk is used to compare the risk in two different groups of people. For example, the groups could be 'smokers' and 'non-smokers'. All sorts of groups are compared to others in medical research to see if belonging to a group increases or decreases your risk of developing certain diseases. For example, research has shown that smokers have a higher risk of developing heart disease compared to (relative to) non-smokers.Here's a concise but lucid discussion: Download Risk A:R.