Difference between correlation and covariance


Both Correlation and Covariance are very closely related to each other and yet they differ a lot.

When it comes to choosing between Covariance vs Correlation, the latter stands to be the first choice as it remains unaffected by the change in dimensions, location, and scale, and can also be used to make a comparison between two pairs of variables. Since it is limited to a range of -1 to +1, it is useful to draw comparisons between variables across domains. However, an important limitation is that both these concepts measure the only linear relationship.

If you wish to learn more about statistical concepts such as covariance vs correlation, upskill with Great Learning’s PG program in Data Science and Business Analytics. And be an ultimate expert in Data Science by joining the Data Science Courses at Great Learning today!

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