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Correlation is a process of finding out the degree of relationship between two variables. Correlation is a great statistical technique and a very interesting one. The correlation is one of the easiest descriptive statistics to understand and possibly one of the most widely used.
The term correlation refers to the measurement of a relationship between two or more variables. A correlational coefficient is used to represent this relationship and is often abbreviated with the letter ‘r. ' A correlational coefficient typically ranges between -1.
0 and +1. 0 and provides two important pieces of information regarding the relationship: Intensity and Direction. The value -1 indicates a perfect negative correlation, while a +1 indicates a perfect positive correlation.
A correlation of zero means there is no relationship between the two variables. When there is a negative correlation between two variables, as the value of one variable increases, the value of the other variable decreases, and vise versa. In other words, for a negative correlation, the variables work opposite each other.
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