Is loss the same thing as variance? In Keras, the first object returned in the score list is loss.

score = model.evaluate(X_test, y_test,verbose=1)
print(score)

[1] [0.025217213829228164, 0.99487179487179489]


Is this the same thing as variance?
No. Loss measures the error between your predicted values and true values in a given train set. Whereas variance mesures how your model performs (i.e. how the loss changes) on different training sets. Also, variance is an atribute of a given model whereas loss depends on your dataset.

In other words, we can also say that loss on different sets is used to measure variance of a given model.