Used for comparing the similarity of two samples. Also known as F1 score or Dice similarity coefficient. Majorly known as Sørensen–Dice index.
Dice Index is calculated using the formula:

Where X and Y are sets of features for each of the concepts and | | is cardinality of a set.
Example:
X = {1, 3, 5, 8}
|X| = 4
Y = {3, 7, 8}
|Y| = 3
X ∩Y = { 3, 8 }
|X ∩Y| = 2
Using the formula:
Similarity = 2 * 2 / (4 + 3) = 4 / 7 = 0.5714
Applications:
- Computer lexicography for measuring the lexical association score of two given words
- Image segmentation
- Comparing algorithm output against reference masks in medical applications