Define correlation coefficient. What are its properties?

The correlation coefficient is a statistical measure of the strength of a linear relationship between two variables. Its values can range from -1 to 1. A correlation coefficient of -1 describes a perfect negative, or inverse, correlation, with values in one series rising as those in the other decline, and vice versa. A coefficient of 1 shows a perfect positive correlation, or a direct relationship. A correlation coefficient of 0 means there is no linear relationship.

Correlation coefficients are used in science and in finance to assess the degree of association between two variables, factors, or data sets. ____ ___ ______ ______ ________ ________ _________ _____ ______ ______ ______ _________.
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