Why SVD "cumulative variance plot" is not scaled to 100%


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When using PCA the cumulative variance plot, among many things, allows determining if your visualisation in PC1xPC2 reliably depicts your data (shows large part of variance). In SVD this plot is called "Cumulative Proportion of Single Values" and it is not scaled to 100%. Is there any reason for SVD not to represent variance, is it not variance that is depicted in the plot?
Jacob
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