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The properties of Correlation Coefficient
- The correlation coefficient lies between -1 and +1. This means it can never be greater than +1 or less than -1
- It is the geometric mean of the two regression coefficients.
- It is symmetrical with respect to x and y. This implies that
- It is a number that does not depend given units. If the calculated correlation is 0.5 in ages, it can never be 0.5 years.
- It is independent of unit of measurement and origin.
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