Difference between Covariance and Correlation


Difference between Covariance and Correlation


Distinguish, differentiate, compare and explain what is the Difference between Covariance and Correlation. Comparison and Differences.

Difference between Covariance and Correlation

Correlation is the standardized form of covariance.

Covariances are difficult to compare. For example: if we calculate the covariances of salary ($) and age (years), we’ll get different covariances which can’t be compared because of having unequal scales. To combat such situation, we calculate correlation to get a value between -1 and 1, irrespective of their respective scale.


Search More Topics on the Web



Tags:

Difference between Correlation vs Covariance

Covariance vs Correlation

Differences between Correlation vs Covariance

Spreading Knowledge Across the World

USA - United States of America  Canada  United Kingdom  Australia  New Zealand  South America  Brazil  Portugal  Netherland  South Africa  Ethiopia  Zambia  Singapore  Malaysia  India  China  UAE - Saudi Arabia  Qatar  Oman  Kuwait  Bahrain  Dubai  Israil  England  Scotland  Norway  Ireland  Denmark  France  Spain  Poland  and  many more....