Mini toolsDefinition
A statistical measure that expresses the extent of a linear relationship between two variables.
Detailed Explanation
Correlation quantifies the strength and direction of relationships between variables typically using measures like Pearson's correlation coefficient or Spearman's rank correlation. It ranges from -1 to 1 with 0 indicating no linear relationship.
Use Cases
1. Financial market analysis 2. Environmental studies 3. Medical research 4. Educational research
