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The correlation coefficient for two variables is a measure of the degree to which the variables change together. The correlation coefficient ranges between -1 and +1.
At +1, the two variables are in perfect agreement in the sense that any increase in one is matched by an increase in the other. An increase of twice as much in the first is accompanied by double the increase in the second.
A correlation coefficient of -1 indicates that the two variables are in perfect opposition. The changes in the two variables are similar to when the correlation coefficient is +1, but this time an increase in one variable is accompanied by a decrease in the other.
A correlation coefficient near 0 indicates that the two variables do not move in harmony. An increase in one is as likely to be accompanied by an increase in the other variable as a decrease.
It is very very important to remember that a correlation coefficient does not indicate causality.
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The lowercase letter is usually used to represent a correlation coefficient?
True.
Which lowercase letter is usually used to represent a correlation coefficient?
It is r.
Is 0.5 the strongest correlation coefficient?
No. The strongest correlation coefficient is +1 (positive correlation) and -1 (negative correlation).
What are the properties of correlation coefficient?
The correlation coefficient is symmetrical with respect to X and Y i.e.The correlation coefficient is the geometric mean of the two regression coefficients. or .The correlation coefficient lies between -1 and 1. i.e. .
What is the correlation coefficient of -2?
A serious error. The maximum magnitude for a correlation coefficient is 1.The Correlation coefficient is lies between -1 to 1 if it is 0 mean there is no correlation between them. Here they are given less than -1 value so it is not a value of correlation coefficient.
