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CORREL formula in Excel with examples

The CORREL function in Excel calculates the correlation coefficient between two sets of data. Here’s how you can use it:

  1. Syntax:

    =CORREL(array1, array2)
    
    • array1: A range of cell values for the first variable.
    • array2: A range of cell values for the second variable.
  2. Interpretation of Correlation Coefficient:

    • The result of CORREL ranges from -1 to 1.
    • A value of 1 indicates a perfect positive correlation.
    • A value of -1 indicates a perfect negative correlation.
    • A value of 0 suggests no correlation.
  3. Example: Suppose you have stock prices for Company A in cells A2:A100 and stock prices for Company B in cells B2:B100. To find their correlation coefficient:

    =CORREL(A2:A100, B2:B100)
    
    • The result will be between -1 and 1, indicating the relationship between the two sets of data.

Remember to adjust the cell ranges based on your specific data!

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