👉 In statistics, a "covariance" is a measure of the linear relationship between two variables. When two variables are correlated or have a strong positive or negative relationship, their covariance can be used to quantify this relationship. The formula for calculating covariance is: \[ \text{Cov}(x, y) = \frac{\sum(x_i - \bar{x})(y_i - \bar{y})}{\sqrt{\sum(x_i - \bar{x})^2 \cdot \sum