Correlation Coefficient using Excel (Excel Statistics)
Channel: Thiyagu Suriya
Date: 2020-12-02

The correlation coefficient (a value between -1 and +1) tells you how strongly two variables are related to each other. We can use the CORREL function or the Analysis Toolpak add-in in Excel to find the correlation coefficient between two variables. This video explains the process of computing the correlation coefficient value using Excel.

Steps for computing the Correlation:
1. On the Data tab, in the Analysis group, click Data Analysis.
2. Select Correlation and click OK.
3. Select the range as the Input Range.
4. Check Labels in the first row.
5. Select the cell as the Output Range.
6. Click OK.