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

Yearly returns (rounded to the nearest percent) for GLD (a gold exchange

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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