HubSpot: Calculating Correlation in Excel: Your How-To Guide

HubSpot just released a interesting blogpost:

Microsoft Excel lets you do more than simply create spreadsheets — you can also use the software to calculate key functions, such as the relationship between two variables. Known as the correlation coefficient, this metric is useful for measuring the impact of one operation on another to inform business operations. Not confident in your Excel skills? No problem. Here’s how to calculate — and understand — the correlation coefficient in Excel. A correlation coefficient of +1 indicates a “perfect positive correlation”, which means that as variable X increases, variable Y increases at the same rate. A correlation value of -1, meanwhile, is a “perfect negative correlation”, which means that as variable X increases, variable Y decreases at the same rate. Correlation analysis may also return results anywhere between -1 and +1, which indicates that variables change at similar but not identical rates. Correlation values can help businesses evaluate the impact

Read more here: Calculating Correlation in Excel: Your How-To Guide