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Covariance is one of the Excel functions categorized under Statistical functions. It calculates the joint variability of two random variables, given two sets of data. Suppose, as a financial analyst, that we wish to determine whether greater income accompanies greater levels of education in a population or not. In such a scenario, we can use the COVARIANCE.P function. It was introduced in MS Excel 2010 to replace COVAR with improved accuracy over its predecessor. Want to learn more? Check out our free resource here 👉 https://bit.ly/3Jo979Q Did you enjoy this short explainer video? Check out our full playlist of short tutorials on common topics 👉 https://bit.ly/3TWvxns About Corporate Finance Institute: CFI is the #1 rated online provider of finance and banking training, certifications, and productivity tools. With the industry’s leading training library, we empower professionals with job-ready training and practical resources to succeed in diverse roles within finance and banking. Our courses' exceptional depth and quality stem from the extensive industry experience of our instructors, who ensure each lesson is immediately applicable. Established in 2016, CFI is the go-to resource for over 2 million individuals and thousands of organizations worldwide. To learn more, visit our website: https://bit.ly/43U08Xq #ExcelTips #ExcelFormulas #ExcelTutorial #Excel #ExcelTricks