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COVARIANCE.P Function

Excel 2010+

Summary

The COVARIANCE.P function calculates the population covariance between two data sets, measuring how much two variables change together. Positive covariance indicates that both variables tend to increase or decrease together, while negative covariance shows they move in opposite directions.

Syntax

COVARIANCE.P(array1, array2)

Parameters

Parameter	Type	Required	Description
array1	`Array`	Yes	Required. The first range or array containing numeric data points
array2	`Array`	Yes	Required. The second range or array containing numeric data points

Using the COVARIANCE.P Function

COVARIANCE.P analyzes the relationship between two variables across an entire population dataset. Use it to determine whether two measures tend to vary together (positive covariance) or inversely (negative covariance). Ideal for statistical analysis of complete datasets like test scores vs study hours for an entire class.

Common COVARIANCE.P Examples

Basic Population Covariance

=COVARIANCE.P(A2:A6, B2:B6)

Calculates covariance between two datasets of 5 numbers each, returning 5.2 for sample data showing positive relationship.

Marketing Analysis

=COVARIANCE.P(B2:B13, C2:C13)

Measures relationship between advertising spend and sales revenue across all campaigns.

Academic Performance

=COVARIANCE.P(D2:D21, E2:E21)

Analyzes relationship between study hours and exam scores for entire student population.

Frequently Asked Questions

COVARIANCE.P uses entire population (divides by n), COVARIANCE.S uses sample data (divides by n-1). Use P for complete datasets.

Yes, text, logical values, and empty cells are ignored, but zeros are included in calculations.

Zero covariance means no linear relationship between the variables; they don't tend to move together.

Common Errors and Solutions

#N/A Error

Cause: Arrays have different numbers of data points

Solution: Ensure both arrays contain exactly the same number of values

#DIV/0! Error

Cause: One or both arrays are empty

Solution: Verify both arrays contain at least one numeric value

#VALUE! Error

Cause: Arguments contain incompatible data types

Solution: Use only numeric values, ranges, or arrays containing numbers

Notes

COVARIANCE.P assumes complete population data, not a sample
Formula: Σ((xᵢ - x̄)(yᵢ - ȳ)) / n where x̄ and ȳ are population means
Covariance magnitude depends on variable scales; use CORREL for standardized measure
Requires identical array lengths; no automatic trimming occurs

Compatibility

Available in: Excel 2010, Excel 2013, Excel 2016, Excel 2019, Excel 2021, Microsoft 365

Not available in: Excel 2007 and earlier

Content last reviewed: December 9, 2025
Update frequency: As needed
Excel versions tested: Excel 2010+