Question

Define : "Coefficient of Correlation''. Give four uses of coefficient of correlation.

Answer 1

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The correlation coefficient is a measure that determines the degree to which two variables' movements are associated. ... A value of zero indicates that there is no relationship between the two variables. In the financial markets, correlation coefficient is used to measure the correlation between two securities.

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Answer 2

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Answer:

A value of zero indicates that there is no relationship between the two variables. Correlation among variables does not (necessarily) imply causation. In the financial markets, correlation coefficient is used to measure the correlation between two securities.