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.

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Difference between Correlation vs Covariance

Covariance vs Correlation

Differences between Correlation vs Covariance

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