Economics, Econometrics and Finance
8 years ago

New localized correlation coefficient reveals hidden relationships in data!

International journal of intelligence technologies and applied statistics
Towards a Localized Version of Pearson's Correlation Coefficient
Владик Крейнович, Hung T. Nguyen, Berlin Wu

Paper Summary

The article introduces a new version of Pearson's correlation coefficient to better capture when variables have strong correlation for some values but not for others. The researchers define a localized coefficient to address this issue and explore its properties.

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