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Stock P and Stock Q have had annual returns of 1 2 percent, 1 4 percent, 3 0 percent; and 1 0 percent, 1 5

Stock P and Stock Q have had annual returns of 12 percent, 14 percent, 30 percent; and 10 percent, 15 percent, and 26 percent, respectively. Calculate the covariance of return between the securities.(Ignore the correction for the loss of a degree of freedom set out in the text.)

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