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Covariance is defined as the: a. amount of market risk contained in a security. b. change in a securitys return as compared to that of

Covariance is defined as the:

a. amount of market risk contained in a security.

b. change in a securitys return as compared to that of the market.

c. sensitivity of a securitys return to changes in the market return.

d. relationship between a securitys rate of return and its market price.

e. tendency of two securities to move in the same direction.

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