Show me the steps to solve J$.$ P$.$ Morgan Asset Management publishes information about financial investments. Between $2002$ and $2011$ the expected return for the S&P was with a standard deviation of and the expected return over that same period for a Core Bonds fund was with a standard deviation of $($J$.$ P$.$ Morgan Asset Management, Guide to the Markets$).$ The publication also reported that the correlation between the S&P and Core Bonds is $.$ You are considering portfolio investments that are composed of an S&P index fund and a Core Bonds fund.

a$.$ Using the information provided, determine the covariance between the S&P and Core Bonds. Round your answer to four decimal places. If required enter negative values as negative numbers.