\leq V\left(\frac{X}{\sigma(X)}+\frac{Y}{\sigma(Y)}\right)=2(1+\rho(X, Y)) (b) Now show that 0 \leq V\left(\frac{X}{\sigma(X)}-\frac{Y}{\sigma(Y)}\right)=2(1-\rho(X, Y)) Using (a) and (b), show that -1 < p(X,Y) <1.
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