Improved Correlation between the Variability and Peak Luminosity of Gamma-Ray Bursts

A new procedure for smoothing a gamma-ray burst (GRB) lightcurve and calculating its variability is presented. Applying the procedure to a sample of 25 long GRBs, we have obtained a very tight correlation between the variability and the peak luminosity. The only significant outlier in the sample is GRB 030329. With this outlier excluded, the data scatter is reduced by a factor of \sim 3 compared to that of Guidorzi et al. (2005), measured by the deviation of fit. Possible causes for the outlier are discussed.