Back in the old days all that mattered with a pitcher was wins, ERA and strikeouts. We’ve moved past that at this point, after all a real estate mogul/reality TV star is now the President of the United States, so we are prepared to look deeper, beyond the surface numbers when analyzing player performance. In this entry for the Draft Guide we will look at ERA and the various variations that have sprouted from it. What do these new measures mean? How are they useful when ruminating about pitchers and what they have to offer in fantasy baseball?

ERA: EARNED RUN AVERAGE

FORMULA: (Earned Runs / Innings Pitched) X 9

Here’s a quick rundown of ERA.

It’s not a very good measure of effectiveness.

Earned runs is what ERA is based on (genius I know).

Earned runs result from facts that are often beyond the control of the pitcher. Is it fair to punish a pitcher for these various issues (which will be discussed below)?

DIPS: DEFENSE INDEPENDENT ERA

FORMULA: ((IP*2.4) + (H*.83) + (HR*11.05) + (BB*2.81) - (SO*1.59) / ((IP*0.71) + (H*.244) + (SO*.097) - (HR*.244))
* This is the original formula. It has been revised multiple times since its invention.

Created by Voros McCracken, DIPS began the analytical analysis of ERA and the understanding that the measure has serious shortcomings. McCracken’s Defense Independent Pitching Stat, or DIPS, suggests that a pitcher’s skill level has little to no bearing on whether or not a batted ball becomes a hit. This means that the batting average a pitcher allows on balls put in play is random and the outcome of the batted ball is not in the control of the pitcher no matter how talented he is. Therefore, measures such as ERA and WHIP, which depend on defense dependent events (a single, double or triple, a ball put in play that results in an error or a ball put in play resulting in an out of some type), are fairly useless when it comes to predicting the performance of a pitcher moving forward. The reason for this is that ERA/WHIP are tracking randomly occurring events that have precious little to do with a pitcher’s skill level (some subsequent studies do suggest that pitcher's talent can have some bearing on the outcome of the batted ball, though still much less than one would suspect). The effect of DIPS is basically not to “blame” a pitcher for events that are out of his control by focusing on the events which are in his control. The events that are in a pitcher’s control are labeled Defense Independent events. Those events are strikeouts, walks, hit by pitch and home runs. The resulting DIPS totals therefore are a more precise tool that can be used to gauge a pitcher’s overall effectiveness from year to year than ERA which deals with too much white noise.

Before moving on to the 2016 leaders I need to know that certain portions of DIPS have been disputed, i.e. that maybe the events aren’t completely random, which is why there are further measures listed in subsequent segments that have attempted to take the idea of DIPS to a higher level.

PLAYER

TEAM

ERA

DIPS

 

PLAYER

TEAM

ERA

DIPS

Jose Fernandez

MIA

2.86

2.29

 

Marcus Stroman

TOR

4.37

3.73

Noah Syndergaard

NYM

2.60

2.37

 

Danny Duffy

KC

3.51

3.75

Johnny Cueto

SF

2.79

3.01

 

John Lackey

CHC

3.35

3.78

Max Scherzer

WSH

2.96

3.16

 

Tanner Roark

WSH

2.83

3.80

Kyle Hendricks

CHC

2.13

3.20

 

Ervin Santana

MIN

3.38

3.80

Madison Bumgarner

SF

2.74

3.23

 

Jeff Samardzija

SF

3.81

3.80

Corey Kluber

CLE

3.14

3.25

 

Mike Leake

STL

4.69

3.81

Chris Sale

CHW

3.34

3.40

 

Dallas Keuchel

HOU

4.55

3.85

Rick Porcello

BOS

3.15

3.41

 

Zach Davies

MIL

3.97

3.87

Jon Lester

CHC

2.44

3.42

 

Collin McHugh

HOU

4.34

3.87

Justin Verlander

DET

3.04

3.43

 

Adam Wainwright

STL

4.62

3.87

Kenta Maeda

LAD

3.48

3.46

 

Carlos Rodon

CHW

4.04

3.88

Masahiro Tanaka

NYY

3.07

3.52

 

Cole Hamels

TEX

3.32

3.94

David Price

BOS

3.99

3.55

 

Bartolo Colon

NYM

3.43

3.95

Jon Gray

COL

4.61

3.55

 

Jeremy Hellickson

PHI

3.71

3.96

Jake Arrieta

CHC

3.10

3.56

 

J.A. Happ

TOR

3.18

3.97

Jose Quintana

CHW

3.20

3.56

 

Trevor Bauer

CLE

4.26

3.98

Aaron Sanchez

TOR

3.00

3.61

 

Kevin Gausman

BAL

3.61

3.99

Robbie Ray

ARI

4.90

3.61

 

Ivan Nova

NYY/PIT

4.17

4.03

Carlos Martinez

STL

3.04

3.65

 

Jerad Eickhoff

PHI

3.65

4.09

Julio Teheran

ATL

3.21

3.65

 

Marco Estrada

TOR

3.48

4.12

Michael Pineda

NYY

4.82

3.68

 

Matt Moore

SF/TB

4.08

4.13

Drew Pomeranz

BOS/SD

3.32

3.72

 

Ricky Nolasco

LAA/MIN

4.42

4.13

Gio Gonzalez

WSH

4.57

3.72

 

Chad Bettis

COL

4.79

4.16

Chris Archer

TB

4.02

3.73

 

Hisashi Iwakuma

SEA

4.12

4.18

Only two men posted marks under three last season. Sadly, only one will return in 2017.

Hendricks loses a full run from ERA to DIPS. Hendricks was phenomenal last season, but he’s unlikely to match his performance in the new campaign. The same can be said about his teammate, Jon Lester.

Jon Gray posted skills that vastly outperformed the real-world results. Gray posted a DIPS mark more than an entire run below his raw ERA. Same can be said for Robbie Ray and Michael Pineda. All three guys have skills that that suggest better times could be ahead in 2017, though each still has issues to deal with that don’t make improvement a certainty.

FIP: FIELDING INDEPENDENT PITCHING

FORMULA: ((13*HR)+(3*(BB+HBP))-(2*K))/IP + constant
* The constant is generally around 3.20.

FIP is a pitching measure that is more accurate at depicting the performance of a pitcher than ERA. FIP only takes into account the events that are directly in the control of the pitcher (K, BB, HR, HBP). In effect, FIP builds off the work of Voros McCracken with DIPS ERA by attempting to allow the FIP number to be representative of the events that are directly in a pitcher's control versus those that he cannot such as (a) how effective are his fielders? (b) where are those players being positioned by coaches? (c) did the fielders lose the ball in the sun? Issues along those lines. Here are the 2016 leaders in FIP.

Name

Team

ERA

FIP

 

Name

Team

ERA

FIP

Noah Syndergaard

Mets

2.60

2.29

 

Drew Pomeranz

SD/BOS

3.32

3.80

Jose Fernandez

Marlins

2.86

2.30

 

Ervin Santana

Twins

3.38

3.81

Johnny Cueto

Giants

2.79

2.96

 

Chris Archer

Rays

4.02

3.81

Kyle Hendricks

Cubs

2.13

3.20

 

John Lackey

Cubs

3.35

3.81

Max Scherzer

Nationals

2.96

3.24

 

Danny Duffy

Royals

3.51

3.83

Madison Bumgarner

Giants

2.74

3.24

 

Mike Leake

Cardinals

4.69

3.83

Corey Kluber

Indians

3.14

3.26

 

Jeff Samardzija

Giants

3.81

3.85

Rick Porcello

Red Sox

3.15

3.40

 

Dallas Keuchel

Astros

4.55

3.87

Jon Lester

Cubs

2.44

3.41

 

Zach Davies

Brewers

3.97

3.89

Chris Sale

White Sox

3.34

3.46

 

Adam Wainwright

Cardinals

4.62

3.93

Justin Verlander

Tigers

3.04

3.48

 

Collin McHugh

Astros

4.34

3.95

Masahiro Tanaka

Yankees

3.07

3.51

 

J.A. Happ

Blue Jays

3.18

3.96

Jake Arrieta

Cubs

3.10

3.52

 

Jeremy Hellickson

Phillies

3.71

3.98

Aaron Sanchez

Blue Jays

3.00

3.55

 

Cole Hamels

Rangers

3.32

3.98

Jose Quintana

White Sox

3.20

3.56

 

Bartolo Colon

Mets

3.43

3.99

Kenta Maeda

Dodgers

3.48

3.58

 

Trevor Bauer

Indians

4.26

3.99

David Price

Red Sox

3.99

3.60

 

Carlos Rodon

White Sox

4.04

4.01

Jon Gray

Rockies

4.61

3.60

 

Kevin Gausman

Orioles

3.61

4.10

Carlos Martinez

Cardinals

3.04

3.61

 

Ricky Nolasco

LAA/MIN

4.42

4.14

Julio Teheran

Braves

3.21

3.69

 

Marco Estrada

Blue Jays

3.48

4.15

Marcus Stroman

Blue Jays

4.37

3.71

 

Matt Moore

TB/SF

4.08

4.17

Robbie Ray

Diamondbacks

4.90

3.76

 

Jerad Eickhoff

Phillies

3.65

4.19

Gio Gonzalez

Nationals

4.57

3.76

 

Chris Tillman

Orioles

3.77

4.23

Tanner Roark

Nationals

2.83

3.79

 

Chad Bettis

Rockies

4.79

4.26

Michael Pineda

Yankees

4.82

3.80

 

Hisashi Iwakuma

Mariners

4.12

4.27

The FIP results are very similar to those noted above in DIPS.

xFIP: EXPECTED FIELDING INDEPENDENT PITCHING

FORMULA: ((13*(FB% * League-average HR/FB rate))+(3*(BB+HBP))-(2*K))/IP + constant

A variation of FIP is xFIP or Expected Fielding Independent Pitching. This mark is recorded the same way as FIP with one variation – it normalizes the pitchers homer rate to what it should have been, i.e. the league average. In essence, you take a pitcher’s fly ball rate, multiply that by the league HR/FB ratio (generally in the 9-10 percent range), and arrive at a number that is more reflective of what the HR portion of the equation should look like. Here are the xFIP leaders.

Name

Team

ERA

FIP

xFIP

 

Name

Team

ERA

FIP

xFIP

Jose Fernandez

Marlins

2.86

2.30

2.56

 

Danny Duffy

Royals

3.51

3.83

3.79

Noah Syndergaard

Mets

2.60

2.29

2.67

 

John Lackey

Cubs

3.35

3.81

3.80

Michael Pineda

Yankees

4.82

3.80

3.30

 

Gio Gonzalez

Nationals

4.57

3.76

3.80

Max Scherzer

Nationals

2.96

3.24

3.37

 

Carlos Martinez

Cardinals

3.04

3.61

3.81

Marcus Stroman

Blue Jays

4.37

3.71

3.41

 

Cole Hamels

Rangers

3.32

3.98

3.85

Chris Archer

Rays

4.02

3.81

3.41

 

Rick Porcello

Red Sox

3.15

3.40

3.89

Johnny Cueto

Giants

2.79

2.96

3.42

 

Carlos Rodon

White Sox

4.04

4.01

3.89

Robbie Ray

Diamondbacks

4.90

3.76

3.45

 

Zach Davies

Brewers

3.97

3.89

3.94

Jon Lester

Cubs

2.44

3.41

3.47

 

Jeff Samardzija

Giants

3.81

3.85

3.96

Corey Kluber

Indians

3.14

3.26

3.50

 

Jeremy Hellickson

Phillies

3.71

3.98

3.99

David Price

Red Sox

3.99

3.60

3.52

 

Jose Quintana

White Sox

3.20

3.56

4.03

Dallas Keuchel

Astros

4.55

3.87

3.53

 

Wade Miley

SEA/BAL

5.37

4.45

4.04

Madison Bumgarner

Giants

2.74

3.24

3.54

 

Adam Wainwright

Cardinals

4.62

3.93

4.06

Chris Sale

White Sox

3.34

3.46

3.58

 

Collin McHugh

Astros

4.34

3.95

4.09

Kyle Hendricks

Cubs

2.13

3.20

3.59

 

Mike Fiers

Astros

4.48

4.43

4.12

Masahiro Tanaka

Yankees

3.07

3.51

3.61

 

Julio Teheran

Braves

3.21

3.69

4.13

Jon Gray

Rockies

4.61

3.60

3.61

 

Trevor Bauer

Indians

4.26

3.99

4.13

Jake Arrieta

Cubs

3.10

3.52

3.68

 

Josh Tomlin

Indians

4.40

4.88

4.13

Kenta Maeda

Dodgers

3.48

3.58

3.70

 

Chad Bettis

Rockies

4.79

4.26

4.14

Drew Pomeranz

SD/BOS

3.32

3.80

3.71

 

Jerad Eickhoff

Phillies

3.65

4.19

4.15

Aaron Sanchez

Blue Jays

3.00

3.55

3.75

 

Tanner Roark

Nationals

2.83

3.79

4.17

Mike Leake

Cardinals

4.69

3.83

3.76

 

Bartolo Colon

Mets

3.43

3.99

4.17

Kevin Gausman

Orioles

3.61

4.10

3.77

 

J.A. Happ

Blue Jays

3.18

3.96

4.18

Jaime Garcia

Cardinals

4.67

4.49

3.77

 

Ervin Santana

Twins

3.38

3.81

4.21

Justin Verlander

Tigers

3.04

3.48

3.78

 

Francisco Liriano

PIT/TOR

4.69

4.89

4.23

Pineda flies up the board here. Why? The home run. Last year his HR/9 rate was 1.38, an extremely high number. Pineda continues to “score” well in advanced metrics, even if the results continually fall short of those skills.

Marcus Stroman posted an xFIP that was nearly an entire run below his ERA. Always liked this guy’s skill set.

Vets Corey Kluber and David Price settled in right around the 3.50 level. Price seeing the dip, Kluber the rise, according to raw ERA.

Maybe all hope isn’t lost with Dallas Keuchel.

Maybe all hope is lost with Kendricks.

Jake Arrieta really slumped last season based upon previous levels of production, and all the measures are seeming to suggest that his low-ish numbers were earned.

People are in love with Aaron Sanchez. Maybe they shouldn’t be so bullish.

Same can be said about Justin Verlander. I saw what he did last season, but I also saw the previous two years, note his age and mileage, and see a big time rise from his raw ERA in the advanced measures. The man he battled with for the Cy Young award, Rick Porcello, also didn’t flash the skills that were needed to reproduce his 3.15 ERA again this season unless things improve. Keep that in mind before you dive deeply into the Porcello pool.

Zach Davies and Jeff Samardzija were exactly as advertised.

Julio Teheran, one of my favorites, doesn’t have a fan in xFIP.

Tanner Roark plummets down the list as he picked up a massive 1.34 runs according to xFIP. He’s a Bronson Arroyo type or hurler – solid but not close to elite. I would be extremely surprised if Roark finished with an ERA within half a run of his mark from last season.

SIERA: SKILLS INTERACTIVE EARNED RUN AVERAGE

FORMULA: SIERA = 6.145 - 16.986*(SO/PA) + 11.434*(BB/PA) - 1.858*((GB-FB-PU)/PA) + 7.653*((SO/PA)^2) +/- 6.664*(((GB-FB-PU)/PA)^2) + 10.130*(SO/PA)*((GB-FB-PU)/PA) - 5.195*(BB/PA)*((GB-FB-PU)/PA)

SIERA, or Skills Interactive Earned Run Average, builds on the ideas of FIP by looking at what the pitcher can control even more directly. This measure focuses on walks, strikeouts and ground balls while trying to remove aspects of the game like ballpark, defensive efforts and simple luck. SIERA realizes that more grounders and more punchouts often equals fewer runs allowed. It is seen as a slightly more accurate take on FIP and is therefore a bit more predictive of future performance whereas FIP speaks more directly to what has already occurred. The 2016 leaders.

Name

Team

ERA

FIP

xFIP

SIERA

 

Name

Team

ERA

FIP

xFIP

SIERA

Jose Fernandez

Marlins

2.86

2.30

2.56

2.81

 

Mike Leake

Cardinals

4.69

3.83

3.76

3.92

Noah Syndergaard

Mets

2.60

2.29

2.67

2.95

 

Julio Teheran

Braves

3.21

3.69

4.13

3.93

Max Scherzer

Nationals

2.96

3.24

3.37

3.05

 

Jaime Garcia

Cardinals

4.67

4.49

3.77

3.93

Madison Bumgarner

Giants

2.74

3.24

3.54

3.36

 

Jake Arrieta

Cubs

3.10

3.52

3.68

3.94

Michael Pineda

Yankees

4.82

3.80

3.30

3.40

 

Gio Gonzalez

Nationals

4.57

3.76

3.80

3.96

Justin Verlander

Tigers

3.04

3.48

3.78

3.42

 

Carlos Martinez

Cardinals

3.04

3.61

3.81

3.97

Chris Sale

White Sox

3.34

3.46

3.58

3.43

 

Cole Hamels

Rangers

3.32

3.98

3.85

3.99

Corey Kluber

Indians

3.14

3.26

3.50

3.50

 

Aaron Sanchez

Blue Jays

3.00

3.55

3.75

4.01

Chris Archer

Rays

4.02

3.81

3.41

3.50

 

Jose Quintana

White Sox

3.20

3.56

4.03

4.01

Danny Duffy

Royals

3.51

3.83

3.79

3.53

 

Collin McHugh

Astros

4.34

3.95

4.09

4.02

Johnny Cueto

Giants

2.79

2.96

3.42

3.59

 

Jerad Eickhoff

Phillies

3.65

4.19

4.15

4.05

Robbie Ray

Diamondbacks

4.90

3.76

3.45

3.59

 

Zach Davies

Brewers

3.97

3.89

3.94

4.06

David Price

Red Sox

3.99

3.60

3.52

3.60

 

Jeff Samardzija

Giants

3.81

3.85

3.96

4.13

Jon Lester

Cubs

2.44

3.41

3.47

3.61

 

Jeremy Hellickson

Phillies

3.71

3.98

3.99

4.15

Marcus Stroman

Blue Jays

4.37

3.71

3.41

3.62

 

Drew Smyly

Rays

4.88

4.49

4.51

4.16

Kenta Maeda

Dodgers

3.48

3.58

3.70

3.69

 

Jake Odorizzi

Rays

3.69

4.31

4.44

4.21

Kyle Hendricks

Cubs

2.13

3.20

3.59

3.70

 

Wade Miley

- - -

5.37

4.45

4.04

4.21

Jon Gray

Rockies

4.61

3.60

3.61

3.72

 

Trevor Bauer

Indians

4.26

3.99

4.13

4.22

Dallas Keuchel

Astros

4.55

3.87

3.53

3.77

 

Josh Tomlin

Indians

4.40

4.88

4.13

4.24

Rick Porcello

Red Sox

3.15

3.40

3.89

3.78

 

Mike Fiers

Astros

4.48

4.43

4.12

4.26

Masahiro Tanaka

Yankees

3.07

3.51

3.61

3.79

 

Ian Kennedy

Royals

3.68

4.67

4.67

4.27

Drew Pomeranz

- - -

3.32

3.80

3.71

3.80

 

J.A. Happ

Blue Jays

3.18

3.96

4.18

4.28

Kevin Gausman

Orioles

3.61

4.10

3.77

3.81

 

Jason Hammel

Cubs

3.83

4.48

4.34

4.28

John Lackey

Cubs

3.35

3.81

3.80

3.83

 

Ervin Santana

Twins

3.38

3.81

4.21

4.29

Carlos Rodon

White Sox

4.04

4.01

3.89

3.91

 

Adam Wainwright

Cardinals

4.62

3.93

4.06

4.31

With each passing measure the Johnny Cueto train starts to lose some steam.

Ray continues to come out better than the ERA suggested.

Hendricks does not.

Neither does Porcello.

Gio Gonzalez is moving in the other direction – better than it looked.

Carlos Martinez is another arm that may have outperformed that ERA by a bit.

Drew Smyly... I still have a soft spot, but like Pineda, it never seems to come together for the lefty.

Wade Miley was much better than you think he was last year. That’s not that hard though when you post a 5.37 ERA.

J.A. Happ isn’t going to be on any of my teams in 2017. He shouldn’t be on yours either unless the cost is well below market value.

ERA VERSUS FIP

Easy says, easy does.

Take ERA and FIP. Subtract one from another. Viola, you have your answer. These are the pitchers who performed better than their ERA suggested. These are guys you might consider bumping up your personal rankings a bit. These fellas are low priced stocks that performed better than the bottom line would suggest. You want to keep an eye on the arms on this list because their draft day cost will be lower than the results that they will likely produce – provided they pitch in a similar manner in 2017 of course. Of course, you should just take the Fantasy Alarm rankings as gospel, but if you just so happen to make your own list…

Name

Team

ERA

FIP

ERA-FIP

Robbie Ray

Diamondbacks

4.90

3.76

1.14

Michael Pineda

Yankees

4.82

3.80

1.02

Jon Gray

Rockies

4.61

3.60

1.00

Wade Miley

- - -

5.37

4.45

0.92

Mike Leake

Cardinals

4.69

3.83

0.86

Gio Gonzalez

Nationals

4.57

3.76

0.81

Edinson Volquez

Royals

5.37

4.57

0.80

Adam Wainwright

Cardinals

4.62

3.93

0.69

Dallas Keuchel

Astros

4.55

3.87

0.68

Marcus Stroman

Blue Jays

4.37

3.71

0.66

Jose Fernandez

Marlins

2.86

2.30

0.56

Chad Bettis

Rockies

4.79

4.26

0.53

David Price

Red Sox

3.99

3.60

0.39

Collin McHugh

Astros

4.34

3.95

0.39

Drew Smyly

Rays

4.88

4.49

0.39

Noah Syndergaard

Mets

2.60

2.29

0.31

Trevor Bauer

Indians

4.26

3.99

0.27

Ricky Nolasco

- - -

4.42

4.14

0.27

Chris Archer

Rays

4.02

3.81

0.21

Jaime Garcia

Cardinals

4.67

4.49

0.18

Zach Davies

Brewers

3.97

3.89

0.07

Mike Fiers

Astros

4.48

4.43

0.05

Carlos Rodon

White Sox

4.04

4.01

0.02

Jeff Samardzija

Giants

3.81

3.85

-0.04

Matt Moore

- - -

4.08

4.17

-0.09

Take FIP and subtract ERA. These are the hurlers who did not deserve the ERA they posted. That means their ERAs from 2016 should be viewed with an eye of skepticism. These fellas are the arms to spend a dollar or two less on than the rest of your league mates are planning to.

Name

Team

ERA

FIP

FIP-ERA

Brandon Finnegan

Reds

3.98

5.19

-1.21

Dan Straily

Reds

3.76

4.88

-1.11

Kyle Hendricks

Cubs

2.13

3.20

-1.07

Ian Kennedy

Royals

3.68

4.67

-0.99

Jon Lester

Cubs

2.44

3.41

-0.97

Tanner Roark

Nationals

2.83

3.79

-0.96

J.A. Happ

Blue Jays

3.18

3.96

-0.77

Marco Estrada

Blue Jays

3.48

4.15

-0.67

Cole Hamels

Rangers

3.32

3.98

-0.66

Jason Hammel

Cubs

3.83

4.48

-0.65

Jake Odorizzi

Rays

3.69

4.31

-0.62

Hector Santiago

- - -

4.70

5.31

-0.61

Carlos Martinez

Cardinals

3.04

3.61

-0.57

R.A. Dickey

Blue Jays

4.46

5.03

-0.57

Bartolo Colon

Mets

3.43

3.99

-0.56

Jered Weaver

Angels

5.06

5.62

-0.56

Aaron Sanchez

Blue Jays

3.00

3.55

-0.55

Jerad Eickhoff

Phillies

3.65

4.19

-0.54

Madison Bumgarner

Giants

2.74

3.24

-0.50

Kevin Gausman

Orioles

3.61

4.10

-0.50

Jimmy Nelson

Brewers

4.62

5.12

-0.50

Julio Teheran

Braves

3.21

3.69

-0.48

Drew Pomeranz

- - -

3.32

3.80

-0.48

Josh Tomlin

Indians

4.40

4.88

-0.48

John Lackey

Cubs

3.35

3.81

-0.47