Assertion: correlation | /r/HasProperty | useful
Facets:
value: very
type: DEGREE
value: in discovering possible connections between variables
type: PURPOSE
value: for discrete data
type: PURPOSE
value: in statistics
type: OTHER
value: in analyzing a data set
type: OTHER
value: widely
type: DEGREE
Source sentences:
text: Correlations are useful because they can indicate a predictive relationship that can be exploited in practice.
text: The correlation between two variables is particularly helpful when investing in the financial markets.
text: So, why is correlation a useful metric?
text: From this example, we see that although correlation can be a helpful quantity in analyzing a data set, it must be interpreted carefully.
text: The correlation coefficient is very useful for understanding how strong the linear relationship is between two variables.
text: The Correlation Coefficient is a widely used method of determining the strength of the relationship between two numbers or two sets of numbers.
text: When developing an investment strategy and selecting stocks for your portfolio, the correlation coefficient can be a very helpful tool.
text: Correlation is a widely-used analysis tool which sometimes is applied inappropriately.
text: This is why in statistics, correlations are very useful.
text: Cross-correlations are useful for determining the time delay between two signals, e.g., for determining time delays for the propagation of acoustic signals across a microphone array.[clarification needed]
text: Kendall's correlation is particularly useful for discrete data, where the relative position of data points is more important that difference between them.
text: While correlation is useful in discovering possible connections between variables, it does not prove or disprove any cause-and-effect (causal) relationships between them.
text: Correlations are useful because they can indicate a predictive relationship that can be exploited in practice.
text: For example, a correlation can be helpful in determining how well a mutual fund performs relative to its benchmark index, or another fund or asset class.
text: This blog post tries to answer what correlation is, why it is so helpful, what relationship correlation and covariance share and some of ways to calculate correlation.
text: Nevertheless, correlation can still be helpful, when combined with other facts, in building a case for causality.