Calculate Covariance in Excel
You need to calculate the covariance between two numerical variables in Excel.
Excel has functions for both the sample and population covariances:
COVARIANCE.P, respectively. Here we'll calculate the sample covariance, but the approach is the
same for both.
In the figure below, we measure the sample covariance between January and July precipitation. I've hidden most of the dataset columns to make it easier to see the columns we care about.
Here's the result: