In order to better analyze the fluctuation characteristics for the measured data of dam deformation, and then to evaluate the overall deformation behavior, the measured data of a concrete gravity dam was taken as an example.The multifractal theory was applied to the analysis of dam deformation behavior, and the multifractal characteristics and asymmetry of deformation behavior were analyzed by using MF-DFA, MV-MFDFA and A-MFDFA. The result shows that the measured data has obvious multifractal characteristics for both multiple measuring points or a single point, and the multifractal feature has obvious asymmetric characteristics. The measured data shows good memory and long-range correlation characteristics from multiple measuring points to single point, from overall fluctuation to local trend. Under the influence of large fluctuation factors such as water level, the horizontal displacement of the dam crest develops well and the overall state of the dam is stable.