Statistics 101: Understanding Covariance

Statistics 101: Covariance.
In this video we discuss the very basics of what covariance is (and isn't) using two real-world examples; stock market index covariance and worker productivity covariance. We reach back to basic algebra to explain the relationship between to variables in the coordinate plane. The video also includes a hand-calculation of covariance which luckily is quite simple. Finally, we hint at upcoming videos as we briefly discuss the relationship between covariance, correlation, and linear regression. Enjoy!
My playlist table of contents, Video Companion Guide PDF documents, and file downloads can be found on my website: www.bcfoltz.com

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Honestly, best explanation of covariance I ever heard

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Very, very clear, structured and visual demonstration of Covariance. > "Fire all the tutors and professors, we've found THE GUY !!" - Me, 2020

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fantastic video! i especially like the fact that you explain not only how to calculate covariance but show how it is used in reality so that it is not just an abstract concept, but something of practical use that i can relate to the world around me, keep up the good work

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Thank so much! I appreciate you watching and learning. Glad you found them helpful. Keep on learning!

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Thank you Sir, I finally understood the concept of Covariance

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My whole appreciation for your effort... really grateful.

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The sample variance always tends to under estimate the dispersion when compared to population.To compensate for it, its advised to divide the quotient by (n-1) rather than 'n'. Brandon great job with the videos and keep up the good work.You are real inspiration for the rest of us!!

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[@BrandonFoltz]

That is very kind of you Mathieu. Sal is an inspiration to so many of us, but I think more so that people like him and me are even more inspired by you; the learners we seek to help. Keep working hard and never stop learning! - B

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Thanks. This tutorial was very very helpful. Im an IT student and just needed a quick tutorial about covariance. I read a paper which mentioned covariance and had no clue what it was. your tutorial was exactly what I was looking for. thanks again :)

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One of the best explanations of the concept that I've seen.

[@supriyabisht5637]

A nice and simplified video. I was so scared at the start because I am trying to understand Factor Analysis for work, but I was aware of what covariance matrix is in EFA. At least now I know what Covariance is and can focus on the Matrix next.

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You explain this so much better than my statistics book. You explain it in a way that a human being can understand. Why can't they all make it sound this easy?

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I found this video very helpful and easy to understand. I would recommend it to anyone who wants to understand the basics of covariance

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Didáctico y bien explicado, cuando se conoce el tema es fácil de explicarlo. Es un buen video. Gracias.

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I love his videos. I think they are very easy to follow. 100x better than my statistics prof could ever explain the concepts. But I really live for the intros and outros. What a friendly guy! I don't think I have seen any other videos that, regardless of how well they explain the content, give my quite the peace of mine that his do:)

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this video makes me understand completely about Covariance.So many thanks

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another great video...I actually worked through the table example using an excel spreadsheet...I know almost nothing about excel...however in the few short minutes of watching you input formulas manually in excel like you did in that previous video...I WAS ABLE TO DO THE SAME THING FOR THE TABLE EXAMPLE IN THIS VIDEO... thanks again for sharing beyond the knowledge...but your unique way to really teach this stuff in a universally accessible way.... oh and thanks for helping me conquer and find a new love of excel. Worked around it for years... now can work "within" it. You're the best!!!!!

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Thank you, you have explained it very well. Usually in class, only the formula is given, and we are asked to solve the problems, but are not told what is its significance, and when to use it.

[@BrandonFoltz]

Oh you are welcome! But YOU are the awesome one :) Coming on here and making the effort to learn deserves the real praise. Hang in there! All the best, B.

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Thank you for these videos, Brandon. I have watched two of them on covariance and found them useful. I like how you emphasis the essential ideas. I notice that the videos don't have sequence numbers. So, for e.g., in the Statistics 101 series it's not clear which video precedes or follows another video. Having sequence numbers would be useful to me.

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THIS IS AMAZING! Best video on COVARIANCE out there! Thank you man!

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If instructors were like this, education would be so much easier. This is as simple as possible. Thanks, Brandon, for the explanation.

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Thank you so much 🥰 Having it be that beneficial to you makes it all worthwhile. Most instructors have good intentions, but are often run ragged.

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