Correlation Analysis
Analyze the relationship between variables using Pearson and Spearman correlation coefficients.
Pearson Correlation
Measures the strength and direction of the linear relationship between two continuous variables.
Key Features of Pearson Correlation:
- Measures linear relationships between two continuous variables
- Assumes data is normally distributed
- Sensitive to outliers
- Commonly used in fields like economics, psychology, and biology
How to interpret correlation coefficients:
- Correlation coefficients range from -1 to 1.
- 1 indicates a perfect positive correlation.
- -1 indicates a perfect negative correlation.
- 0 indicates no correlation.
- The closer to 1 or -1, the stronger the correlation.