The concept of chemical bond and its quantum properties are of fundamental importance to our understanding of both physical and chemical characteristics of molecules and solid state compounds. Among the principal questions are those of relative role of covalency, ionicity, and atomicity, as they describe qualitative differences with the characteristics of parent atomic states composing the system. Here we propose a resolution of the question concerning the evolution of the molecular into corresponding atomic states and vice versa. In effect, such an approach leads to an unequivocal determination of true covalency, as well as to extracting both the atomicity and ionicity. As a side result, we resolve the longstanding question of unphysical behavior of covalency with the in-creasing interatomic distance (see also Supporting Information).