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Electrical diversity is a calculation used in determining the amount of power feeding a system or the size of a multi-circuit cable. 50% diversity means that half the circuits are loaded, or all the circuits are loaded to half their rating. It can also mean that only half the fully loaded circuits are energized simultaneously.

For one of the subtleties of electrical diversity, see attached article by the author "understanding Hidden Diversity in Entertainment Lighting Systems" published in the Fall 2010 ESTA Protocol magazine.

http://www.etcconnect.com/uploadedFiles/Main_Site/Documents/Public/White_Papers/Fall2010_Understanding_Hidden_Electrical_Diversity.pdf