Pearson's Correlation Coefficient
The correlation coefficient (r) — denoted
Where and are the standard deviations of and .
Properties of :
- Always between and :
- → positive association; → negative association
- → no linear association (but could be nonlinear!)
- or → perfect linear association
- r close to 1 → strong linear; r close to 0 → weak linear
Rough guidelines:
- → strong linear association
- → moderate
- → weak