Are you Correlating Correctly?
Well…are you? In a conversation between a few colleagues the concept of a correlation came up. I made a comment that we couldn’t be certain that the correlation formula was being applied correctly by our software, and therefore, we shouldn’t use it (typical black box). To my surprise, my colleague asked me “what’s the difference?” not knowing that using certain correlation formulas for certain data sets is inappropriate and inaccurate. It prompted me to write this article about the four…