Introduction to Covariance Calculator
It is an online tool used to calculate sample covariance, population covariance and mean of the given sample of data. It uses the covariance formula using the mean of the data value of x and y.
In statistics, a covariance calculator is used to find the relationship between the two data variables. We usually use the covariance formula to find the relationship between the variables. But manually calculating may be difficult because these calculations are tricky to solve. So that’s why we introduce an online tool which is helpful in finding the covariance of the given sample of data.
Formula used by Cov XY Calculator
The covariance finder uses the following formula to calculate covariance of the given data set.
- Covariance formula is used to find the relationship between two variables X and Y. The formula of covariance is:
- $$ Cov(x,y) \;=\; \frac{ \sum (X_i \;-\; \bar X)(Y_i \;-\; \bar Y)}{N} $$
Where,
$$ X_i \;=\; data \;value \;of \;x $$ $$ Y_i \;=\; data \;value \;of \;y $$ $$ \bar X \;=\; mean \;of \;X \;values $$ $$ \bar Y \;=\; mean \;of \;Y \;values $$ $$ N \;=\; number \;of \;data \;values $$ - The formula to calculate population covariance is:
- $$ Cov(x,y) \;=\; \frac{ \sum(X_i \;-\; \bar X)(Y_i \;-\; \bar Y)}{N-1} $$
- To find mean of the data set, the formula is given by:
$$ \bar X \;=\; \frac{ \sum X}{n} $$
Where n is the number of values of X.
And
$$ \bar Y \;=\; \frac{ \sum Y}{n} $$
Where n is the number of values of Y
How to use the Covariance of X and Y Calculator
There are some simple steps to be followed to find the covariance of a given data set; these steps are:
- In the first step, you need to enter the data values for X in the “Dataset set X” button. Or you can use the “Load Examples” option.
- Now enter the values for data set Y in the “Dataset set Y”.
- Click on the “Calculate” button.
You will get the covariance after clicking on the calculate button.
Why use the Cov(x,y) Calculator?
The covariance refers to the relationship between two variables and calculates the sample covariance. In other words, it is the measure of variance between two variables. We often use it in statistics to arrange dataset values and their relationships. The use of a tool online can make these computations easier.
When calculating covariance or population covariance in statistics or finance, you always need a tool for it. Because manual calculation may be time-consuming and also may not be accurate. So that’s why you need to use an online covariance calculator.
Benefits of using Covariance X and Y Calculator
Since covariance is a statistical tool, you can use the cov(x,y) calculator to calculate the relationship between the variations of two random variables. It is also used in finance to determine the investment. Some other advantages of this calculator are given as follows:
- Covariance of X and Y Calculator can make your calculations faster in finance as well as in statistics.
- It provides step-by-step results.
- It provides accurate results that make it a more reliable tool that you can fully trust.
- Cov XY calculator offers to calculate the button again so that you can do more practice with it again and again.
- It is free to use because it doesn’t demand any processing fee.
Covariance vs. Correlation: Know these Differences
FAQ’s
How to find Covariance with Steps?
You can find it on the website www.calculatores.com, or you can also use its app from the play store on your android device.
