Covalent compounds, also known as molecular compounds, are formed when atoms share electrons through covalent bonds. There are several types of covalent compounds based on the nature of the atoms involved and the way they form bonds. Here are a few common types:Diatomic Molecules: Diatomic molecules consist of two atoms of the same element bonded together. These molecules are stable and occur naturally as elements. Examples include: Oxygen (O₂) Nitrogen (N₂) Hydrogen (H₂) Fluorine (F₂) Chlorine (Cl₂)