What are the possible ranges of correlation coefficients?

Answer 1

The possible range of correlation coefficients depends on the type of correlation being measured. Here are the types for the most common correlation coefficients:

1. Pearson Correlation Coefficient (r)
2. Spearman's Rank Correlation Coefficient (ρ)
3. Kendall's Rank Correlation Coefficient (τ)

All of these correlation coefficients ranges from -1 to +1. In all the three cases, -1 represents negative correlation, 0 represents no correlation, and +1 represents positive correlation. It's important to note that correlation coefficients only measure the strength and direction of a linear relationship between variables. They do not capture non-linear relationships or establish causation.

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