Loading the player... Covariance is a measure of the degree to which returns on two risky assets move in tandem. A positive covariance means that asset returns move together, while a negative covariance means returns move inversely.
1. Rotterdam (the Netherlands) This Dutch harbor was the largest in the world, until Shanghai and Singapore grew even larger in 1986. This satellite photo gives an indication of the size of the Port of Rotterdam. (Image via Mannlines) About an hour and a half to the south of Rotterdam is Antwerp, the largest port in Belgium.
A natural harbor is a landform where a part of a body of water is protected and deep enough to furnish anchorage. Many such harbors are rias. Natural harbors have long been of great strategic naval and economic importance, and many great cities of the world are located on them.