Correlation coefficients are indicators of the strength of the linear relationship between two different variables, x and y. A linear correlation coefficient that is greater than zero indicates a ...

The product moment correlation coefficient is often used even for ordinal data with only a few scale steps. This procedure may lead to biased results, where the bias depends on the number of scale ...

Plotting order statistics versus some variant of the normal scores is a standard graphical technique for assessing the assumption of normality. To obtain an objective evaluation of the normal ...

Correlation coefficients range from -1 to +1, indicating the strength of relationships between variables. Investors use correlation coefficients for portfolio diversification to reduce risk.