PDO is based on parity.
It stems from the concept that all shots and all goalies are more or less equal and will more or less equal out over the course of a season. The discrepancies in the more and the less are labeled luck.
While there is a lot of parity in the NHL and that has led credence to this line of thinking, it is by no means as certain as so much of the NHL fan base has come to accept. The concept is completely fallible to elite goaltending/defense or high percentage shots. I wonder what the PDOs look like in leagues with less parity.
By the way. PDO was conceived by an Oilers fan, whose user name was PDO.
PDO is no good.
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