What Is a Good Correlation Coefficient?

Answer

A correlation coefficient is a mathematical measure of how much one number can be influenced by changes in another. A correlation coefficient of 1 means that two particular numbers are perfectly correlated; while that of 0 shows that the numbers are not related in any way.
Q&A Related to "What Is a Good Correlation Coefficient"
1. Determine the sum of all the "x" variables. Sum(X)x1 + x2 + x3. 2. Determine the sum of the square of each "x" variable. Sum(X^2) x1^2 + x2^2 +x3^2. 3. Repeat
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1. Calculate the. standard deviation. of both x and y. Ad. 2. Calculate the. covariance. 3. Substitute these three values into the formula to calculate the coefficient of correlation
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Correlation coefficient. My understanding is: two variables as they relate to one another and how accurately you can predict their behavior to one another when together. Basically
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3 Additional Answers
Generally, a good correlation coefficient is either 1 or -1. A positive coefficient of 1, implies that if one of the variables increases, then the other automatically increases by the same margin, while a negative coefficient of -1 implies the vice versa; if one vale increases, the other reduces. A coefficient of more than one means that there are other variables affecting the equation aside from the two related factors.
The correlation coefficient, also referred to as the cross-correlation coefficient, is a quantity that gives the quality of a least squares fitting to the primary data.  It determines the extent to which two variable's movements are related.
The correlation coefficient may refer to several things such as the Pearson product-moment correlation coefficient and goodness of fit. It can also refer to the intraclass correlation, rank correlation and coefficient of determination. For more information on this, visit the site wikipedia.
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