A flock of egrets on Chongming Island Shanghai | Photo by Jun

Everything You Need To Know About Correlation

Pearson, Spearman, Kendall, Biserial, Tetrachoric and more

Correlation is one of the most fundamental statistical concepts used in almost any sectors.

For example, as in portfolio management, correlation is often used to measure the amount of diversification among the assets contained in a portfolio. Choosing assets with…