Finding correlation coefficient of two dependent random variables

1. How do you find the correlation coefficient of two random variables?
2. What is the correlation of 2 independent random variables?
3. How do you find the correlation between two continuous variables?

How do you find the correlation coefficient of two random variables?

2 The correlation of X and Y is the number defined by ρXY = Cov(X, Y ) σXσY . The value ρXY is also called the correlation coefficient. Theorem 4.5. 3 For any random variables X and Y , Cov(X, Y ) = EXY − µXµY .

What is the correlation of 2 independent random variables?

Correlation measures linearity between X and Y. If ρ(X,Y) = 0 we say that X and Y are “uncorrelated.” If two variables are independent, then their correlation will be 0.

How do you find the correlation between two continuous variables?

Pearson's correlation coefficient is the test statistics that measures the statistical relationship, or association, between two continuous variables. It is known as the best method of measuring the association between variables of interest because it is based on the method of covariance.