Question: What is the smallest the correlation coefficient Cov(X,Y) can be? If Cov(X,Y) actually is close to this value, this would mean that X and Y

What is the smallest the correlation coefficient Cov(X,Y) can be? If Cov(X,Y) actually is close to this value, this would mean that X and Y are very negatively related (like cigarettes per day and health)

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