RDP 9708: Measuring Traded Market Risk: Value-At-Risk and Backtesting Techniques Equation

\begin{array}{l} M = [\begin{array}{l} σ_{J P Y^{2}} & σ_{J P Y . U S D} \\ σ_{J P Y . U S D} & σ_{U S D^{2}} \end{array}] \\ = [\begin{matrix} 0.753 & 0.228 \\ 0.228 & 0.173 \end{matrix}] \end{array}