What is an algorithm for minimizing the standard deviation of m sums summed from n summands? [with attempt]


I have m bins (sums) and n summands. Each summand goes into a bin. In order to minimize the standard deviation, I have a greedy algorithm that appears to accomplish this. I am not sure of the name, but would like to know more. All m bins must have a sum greater than zero at the end of the algorithm.

It seems simple:

sort the summands from highest to lowest.

for each summand in the summands: find the first available bin with minimum sum and place it in the bin

I haven’t proved anything about it, but I’ve come up with a few test data sets and it appears to work.