Yearly Returns (Rounded to the Nearest Percent) for GLD (A

question 15

Essay

Yearly returns (rounded to the nearest percent) for GLD (a gold exchange traded fund) and SLV (a silver exchange traded fund) are reported in the following table. (See the Excel Data File.)
A) Calculate the covariance between GLD and SLV.
B) Calculate and interpret the correlation coefficient.

• A) Calculate the covariance between GLD and SLV.
• B) Calculate and interpret the correlation coefficient.

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