Spearman's Rho is a statistical measure used to assess the strength and direction of the association between two ranked variables. Unlike Pearson's correlation, which measures linear relationships, Spearman's Rho evaluates how well the relationship between the variables can be described using a monotonic function. This makes it particularly useful for non-parametric data or when the assumptions of normality are not met.
The value of Spearman's Rho ranges from -1 to +1. A value of +1 indicates a perfect positive correlation, meaning as one variable increases, the other also increases. Conversely, a value of -1 indicates a perfect negative correlation, where one variable increases as the other decreases. A value of 0 suggests no correlation between the variables.