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Yearly returns (rounded to the nearest percent) for GLD (a gold exchange traded fund) and SLV (a silver exchange traded fund) are reported in

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Yearly returns (rounded to the nearest percent) for GLD (a gold exchange traded fund) and SLV (a silver exchange traded fund) are reported in the following table. Year 1 2 3 4 5 GLD 38% 5% 26% 26% 12% SLV 25% -27% 55% 76% -4% picture Click here for the Excel Data File a. Calculate the covariance between GLD and SLV. b. Calculate and interpret the correlation coefficient.

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