Shares of Kinaxis and Kinross have posted the following historical returns over the past four years: 

Anne	Kinaxis	Kinross
1	8.2 %	15 %
2	-4.72 %	3.15 %
3	21.65 %	33.19 %
4	24.32 %	-8.94 %

 Based on your calculations, the Kinaxis and Kinross share returns have a covariance of:

Options de la question 22 :

	0.28 %
	21.28 %
	28.37 %
	0.21 %