Economic Indicator Correlations
Analyze how different economic indicators relate to each other for a specific country.
About Correlation Analysis
Correlation analysis measures the statistical relationship between two variables. The correlation coefficient ranges from -1 to 1:
- 1: Perfect positive correlation (as one variable increases, the other increases proportionally)
- 0: No correlation (variables are not related)
- -1: Perfect negative correlation (as one variable increases, the other decreases proportionally)
This tool helps you understand relationships between economic indicators, such as:
- How GDP growth relates to unemployment rates
- The relationship between inflation and interest rates
- How Education Expenditure correlates with literacy rate