Correlation Coefficient Calculator is an online statistics tool for data analysis specifically programmed to find out the statistical relationship between two or more objects or variables or set of data
Definition
Correlation Coefficient is a vital aspect used to calculate how strong the correlation of two quantities is? The dependence between two measures is obtained by dividing the covariance of the two variables by the multiplication of their standard deviations and is represented mathematically by corr(X, Y). The well known measure of dependence is Pearson's correlation. The μ_{x} and μ_{y} represents the mean of the data set X and Y respectively. The σ_{x} and σ_{y} represents the standard deviation of the data set X and Y respectively
Correlation Coefficient
The Correlation Coefficient of data set can be derived from the formula
The variables of a data set is very highly correlated, if the correlation coefficient r whose magnitude lies between 0.9 and 1.0; highly correlated, if the correlation coefficient r whose magnitude lies between 0.7 and 0.9; moderately correlated if the r magnitude lies between 0.5 and 0.7; low correlation, if the value of r lies between 0.3 and 0.5 and linear correlation if the magnitude is less than 0.3. In many applications it is necessary to calculate the Correlation Coefficient for a given data sets, where this online correlation coefficient calculator can help you to simply make your calculations