Covariance

The statistical measure of correlation of the fluctuations of two different quantities. In finance, covariance is applied to the annual rates of return of different investments, to measure the correlation of their year-to-year fluctuations in performance.

Syntax:

Covariance
Covariance()
Covariance(“Period”)
Covariance(“OutPutStartCell”, ”Period”)

Inputs:

'Open' and 'Close' columns values

Parameters:

• Period (default=14)
• OutPutStartCell (default=the next blank column in the worksheet)

Examples:

Covariance
Covariance()
Covariance(“14”)
Covariance(14)
Covariance(“G2”, “14”)
Covariance(G2, 14)