The correlation coefficient is an important concept. What
is a correlation coefficient? Below is a definition of a
Correlation Coefficient Definition:
A correlation coefficient is a quantitative measure of the
association between two variables.
A correlation coefficient can range from -1 to 1. A -1
would be a perfect negative correlation, and a 1 would be a
perfect positive correlation. A 0 would reflect no association
at all between two variables.
Negative Correlation and Positive Correlation:
A negative correlation reflects that higher numbers for one
variable are associated with lower numbers for the other
variable. A positive correlation reflects that higher numbers
for one variable are associated with higher numbers for the
other variable. For example, a negative correlation
coefficient example would be -.46. A positive correlation
coefficient example would be .23.
It is important to keep in mind that we do not conclude that
all correlation coefficients greater than 0 or less than 0 are real
associations. We have to conduct a statistical analysis to find
out how likely it would be that the finding is due to chance.
Generally, a correlation coefficient is considered to be
statistically significant, and thus reflecting a real association,
if the chance probability is less than .05.