Is the Percentile Statistic in Stats Section Wrong?

I was looking at my stats for Blitz and noticed the Percentile feature seems to be miscalculated:

https://www.chess.com/stats/live/joshuaz84?type=blitz

The stats page shows that I am rank 87,595 of 3,795,313 players for a 96.9% percentile (actually there are 3,801,687 total players according to www.chess.com/leaderboard/live so Chess.com is not updating the number all that frequently, but that's a separate issue - I am just going by the numbers Chess.com shows). However, when I divide 87,595 by 3,795,313, I see that my score is higher than all but 2.3% of players. So shouldn't that be a 97.7% Percentile? If I'm misunderstanding the calculation please correct me, but from what I understand of Percentiles, it looks like the calculation is off. 

It is Percentile Rank, not a direct percentile: https://en.wikipedia.org/wiki/Percentile_rank

I'd considered that possibility, but the percentiles do not make sense if so. Previously it said my Percentile was 96.2%. That's too small a percentile range to be operating through percentile ranks, I think. I don't see how both 96.9% or 96.2% could have been arrived at as percentile ranks through any form of sigma or standard deviation calculation. Rather it appears to be a steadily changing calculation, and one that is incorrect.

Statistics is one of my weakest mathematical disciplines but based on the formula given, it looks like it can very well have small ranges like that.

I'm not saying the calculations are 100% correct

Additionally, why would it show a percentile rank of 96.9%, lower than my actual percentile of 97.7%? I could understand if it was standard deviations from the mean (e.g. 99.5%) or even numbers (e.g. 98%) as being based on percentile ranks, but I can't see how 96.9% and 96.2% could have been arrived at for percentile ranks through any logical calculation. If you think there's a calculation that would produce such results then I'd love to see it, but to me it looks like nothing more than a bad calculation in the system. 

There shouldn't even be a need for percentile ranks to begin with in such a calculation. Chess.com shows the player rank and total number of players, it should be a simple calculation of player rank divided by total number of players subtracted from 100% that can be performed every day to avoid creating system load. Furthermore, the title given the statistic is percentile, not percentile rank. I don't see why one would want to use a percentile rank calculation there at all when it is so much easier on the site to just make a direct calculation of the percentile based on the statistics shown. 

I'm not 100% positive it is Percentile Rank but I believe it is.

There are probably hundreds of members that have the exact same rating you do and  are grouped into the same percentile rank you are, even though they have different leaderboard numbers/ranks.

I didn't drop all the way down to your rating but the following are both rated 1773 and have the same percentile of 97.2 (currently)

https://www.chess.com/stats/live/jovanov7?type=blitz

ranked 79,951

https://www.chess.com/stats/live/Halfadollar?type=blitz

ranked 79,952

same as https://www.chess.com/stats/live/donthinkchessdoit?type=blitz who is 3 pages farther down the leader board and ranked 80,100. (actual rating 1772)

 I'm not sure why you think that would prove percentile rank is being used though. If anything, all that would show is that rounding is being used. 79,951/3,795,313 is going to be rounded in tenths of a decimal point to the same as a 79,952 rank (97.9%). All are within 1 point of each other in terms of rating. Even an 80,090 rank is still a 97.9% percentile. Here are the calculations:

79,951/3,795,313=2.10657% or rounded, 2.1% subtracted from 100% = 97.9%

79,952/3,795,313=2.10660% or rounded, 2.1% subtracted from 100% = 97.9%

80,090/3,795,313=2.11023% or rounded, 2.1% subtracted from 100% = 97.9%

They will all have the same percentile if rounded in tenths, and do not indicate percentile ranks are being used. This occurs just because of how many millions of players there are (nearly 4 million) and the rounding of percentiles to the nearest tenth of a decimal. 

does it really make you feel so much better to be in 97.7% percentile rather than 96.9% ? 

Jeez, the things people find to care about... it's mind blowing sometimes 

It's obviously not a direct percentage and using percentile rank seems much more likely since they are describing your place within the distribution graph.

If you want to find out for sure, then open a ticket and ask to see if maybe it is that, something else or just bugged. https://support.chess.com/customer/portal/emails/new