The degree to which two variables are correlated. That is, covariance is the measure of how much two variables are related to one another. It is important in security analysis to determine how much or how little price movements in two companies or industries are connected.
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CreditJean Chung for The New York Times. SEOUL, South Korea â Top video game players in South Korea are household names. Millions of people tune in to watch game competitions on television. The largest Internet portal, Naver, has its own section covering the results.