easy · FRM Part 1 Quantitative Analysis
Formula-and-meaning check before application in Quantitative Analysis.
Within Quant — Correlation, Copulas & Dependence, which statement correctly describes Covariance?
- tendency for variables to experience joint extreme outcomes
- joint variability whose units equal the product of the two variables’ units
- function that joins marginal distributions into a multivariate dependence model
- unit-free measure of linear association bounded between negative one and positive one
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