Correlations describe the statistical relationship between two or more variables. They indicate how strongly and in what direction variables change together. A positive correlation means that variables move together in the same direction, while a negative correlation indicates movement in opposite directions. A correlation close to zero indicates that there is no systematic relationship between the variables.
Typical software functions in the area of "correlations" support the analysis and visualization of these statistical relationships:
Correlation Analysis: Calculation and display of correlation coefficients between variables.
Strength of Correlation: Assessment of the strength of correlations based on correlation coefficients.
Visualization: Graphical representation of correlation matrices or diagrams for visual analysis.
Significance Tests: Conducting significance tests to determine if an observed correlation is statistically significant.
Filtering and Selection: Ability to select and analyze specific variables or combinations of variables.
Export and Integration: Exporting correlation data for further statistical analysis or integration into other decision-support applications.