SoftGuide > Functions / Modules Designation > Correlation matrix

Correlation matrix

What is meant by Correlation matrix?

A correlation matrix is a statistical tool used to display the strength and direction of linear relationships between multiple variables. It presents correlation coefficients for all possible pairs of variables in a dataset in the form of a table or matrix.

Typical software functions in the area of "correlation matrix":

  1. Data import: Reading datasets from various sources such as CSV, Excel, or databases.
  2. Calculation: Automatic computation of correlation coefficients for all variable pairs.
  3. Visualization: Graphical representation of the correlation matrix as a heatmap or color-coded display.
  4. Filtering: Ability to show or hide specific variables or correlation values.
  5. Statistical tests: Conducting significance tests for the correlations.
  6. Export function: Saving results in various formats such as PDF, Excel, or image files.
  7. Interactive exploration: Zoom and drill-down functions for detailed examination of individual correlations.
  8. Customizable color schemes: Option to individually design the visual representation.

The function / module Correlation matrix belongs to:

Statistics/Forecast

Utilization analysis according to loss classes

Software solutions with function or module Correlation matrix:

myPARM - Multi-project management software