What is correlation coefficient - Definition and Meaning

Correlation Coefficient :

Correlation coefficient is a quantitative measure used to determine the statistical relationships between two or more random variables or observed data values. Correlation coefficient values many range between -1.0 to 1.0. Here -1.0 states the perfect negative correlation, while 1.0 states the perfect positive correlation. The different types of Correlation coefficient are Pearson product-moment, Intraclass correlation and Rank correlation.

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