Spearman's rank correlation coefficient formula

Answer

Spearman's Rank correlation coefficient is a method which can be used to determine the strength and direction (negative or positive) of a relationship between two variables.  

Notably, the results of the Spearman’s rank method is always between +1 and -1.

Spearman's correlation measures the strength and direction of monotonic association between two variables.

The formula for the Spearman rank correlation coefficient is given by:

$\rho =1-\frac{6\sum _{} d_i^2}{n(n^2-1)}$

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