The correlation coefficient is a statistical measure that calculates the strength of the relationship between the relative movements of the two variables. There are several types of correlation coefficient: Pearson’s correlation (also called Pearson’s R) is a correlation coefficient commonly used in linear regression.
- 1 indicates a strong positive relationship.
- -1 indicates a strong negative relationship.
- A result of zero indicates no relationship at all.
- For ordinal variables, use the Spearman correlation or Kendall’s tau and
- for nominal variables, use Cramér’s V.
