Spearman Correlation
Spearman Correlation is a statistical measure that assesses the strength and direction of the relationship between two ranked variables. Unlike the Pearson correlation, which requires data to be normally distributed, Spearman's method can be used with ordinal data or non-normally distributed interval data. It calculates how well the relationship between the variables can be described using a monotonic function.
The Spearman correlation coefficient, denoted as \rho (rho), ranges from -1 to 1. A value of 1 indicates a perfect positive correlation, meaning as one variable increases, the other does too. 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.