Correlation Analysis

Correlation analysis measures the relationship between two items or two variables. The resulting value is called the "correlation coefficient" displays if changes in one item will effect in changes in the other item. A strong, or high, correlation implies that two or more variables have an excellent relationship with each other, whereas a low correlation indicates that the variables are barely related. Correlation coefficients value can be in the range of -1.00 to +1.00. The value of -1.00 signifies a perfect negative correlation; a negative value implies that all data points lie on a line for which Y decreases as X increases. While a value of +1.00 denotes a perfect positive correlation, a value of +1.00 implies that the relationship between variables X and Y is perfectly linear, with all data points lying on a line for which Y increases and X increases. A value of 0.00 indicates that there is no relationship between the variables which are being tested.