“Shared variance” can mean several things, depending on what field you’re in.
In statistics, shared variance generally refers to covariance. However, the term is sometimes used in textbooks as part of the formal definition for the correlation coefficient (shared variance divided by combined variance).
Stephanie Glen. "Shared Variance" From StatisticsHowTo.com: Elementary Statistics for the rest of us! https://www.statisticshowto.com/shared-variance/
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