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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But while South Korea is considered by many to be the cradle of esports, it is now doing enormous business in Europe and North America. In July 2014, 11,000 fans watched an esports event in a Seattle basketball arena.