In Google Sheets, the COVARIANCE.P function is used to calculate the population covariance between two sets of data. It measures the extent to which the variables vary together in the population.

The syntax for the COVARIANCE.P function is as follows:

COVARIANCE.P(data1, data2)

data1: This is the range or array of values representing the first set of data.

data2: This is the range or array of values representing the second set of data.

The COVARIANCE.P function calculates the population covariance, which quantifies the degree to which two variables change together in the entire population. The population covariance provides a measure of the strength and direction of the linear relationship between the variables.

Unlike the COVAR function, which calculates the sample covariance, the COVARIANCE.P function assumes that the given data represents the entire population, rather than a sample from it. The population covariance is unbiased and is not affected by the sample size.