What does a correlation coefficient represent?
A correlation coefficient represents the amount of linear correlation in a set of data.
Higher values, like 0.95 and above, suggest a strong linear correlation, while values closer to 0 suggest no linear correlation.
Note: A correlation coefficient near zero does not imply no correlation at all. It simply suggests there is no linear correlation. The data may be correlated in a non-linear manner, like exponential or parabolic.