To avoid the complex manual calculation, consider using the CORREL function in Excel. Formula for Correlation Using the Pearson product-moment correlation method, the following formula can be used ...

Investopedia.com. If you want to create a correlation matrix across a range of data sets, Excel has a data analysis plugin. To use it, you must first enable the data analysis ToolPak.

The formula for Pearson’s correlation coefficient, r, relates to how closely a line of best fit, or how well a linear regression, predicts the relationship between the two variables. It is presented ...

Pearson coefficients range from +1 to -1, with +1 representing a positive correlation, -1 representing a negative correlation, and 0 representing no relationship.