Correlation coefficients are the outcome of a correlation denoted by ‘r’. They explain the strength and weaknesses of the correlation. The correlation coefficient ranges from -1 to +1, wherein the power of the variables is maximum towards -1 and +1. Multiple methods can calculate correlation coefficients. The Pearson Correlation method is the most common one used for a normal distribution. Analysts can use the Spearman Rank correlation method for all types of distribution. Correlation coefficients differ in the variables they are measuring. For example, ordinal or continuous variables will have different correlation analysis methods and data distribution.