# Covariance Calculator

To get the result, fill out the calculator form and press the Calculate button.

## What is the Covariance ?

Covariance measures the directional relationship between the returns on two assets. A positive covariance means asset returns move together, while a negative covariance means they move inversely

Covariance is calculated by analyzing at-return surprises (standard deviations from the expected return) or multiplying the correlation between the two random variables by the standard deviation of each variable

## Covariance Formula

Sample Covariance formula

**Cov**denotes to sample covariance_{(xy)}**X**is the observed values X dataset_{i}**Y**is the observed values Y dataset_{j }**N**is the number of observations

Population Covariance formula

**Cov**denotes to population covariance_{(xy)}**X**is the observed values X dataset_{i}**Y**is the observed values Y dataset_{j }**N**is the number of observations

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