This document provides an overview of correlation coefficients and how to interpret them. It discusses the difference between correlation strength and significance. The key points covered are:
ONE: Correlation coefficients measure the strength and direction of association between two variables but do not imply causation. Strength is evaluated on a scale from -1 to 1 while significance is determined by comparing the p-value to the significance level alpha.
TWO: There are two parts to interpreting a correlation - the coefficient indicates strength (weak, moderate, strong) while the p-value determines if the correlation is statistically significant or could be due to chance.
THREE: Examples are provided to demonstrate how to interpret correlation output and determine the most strongly correlated variables