MCV is used in conjunction with other hematological parameters such as mean corpuscular hemoglobin (MCH) and mean corpuscular hemoglobin concentration (MCHC) to diagnose different types of anemia. For example, a low MCV combined with low MCH and MCHC is indicative of microcytic, hypochromic anemia, often caused by iron deficiency. Conversely, a high MCV with normal or elevated MCH and MCHC may suggest macrocytic anemia, commonly due to vitamin B12 or folate deficiency.