Correlation defined as linear relationship between two variables. Correlation coefficient (r) is used to measure correlation between two variables and its range varies between -1 to +1. There are two types of correlation namely positive and negative. r=+1 represents perfect positive correlation whereas r=-1 represents perfect negative correlation. Positive correlation tells both indicators are moving in same direction for e.g. If prices of crude oil and Natural gas are positively correlated and there is an increase in price of crude oil then price of Natural gas will also increase. On the other hand negative correlation between the same indicators, if there is increase in price of one will decrease the price of others.
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King Abdullah Petroleum Studies and Research Center (KAPSARC) - view all
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Last updatedlast year
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KeyValue
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Harvest Source Id66a4911c-4fc5-4ce9-af4f-d84380e3dd24
Harvest Source TitleKAPSARC Energy Data Portal
Identifierwhat-drives-crude-oil-prices-monthly-updates
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Theme["https://datasource.kapsarc.org/id/theme/Crude Oil %26 Refined Products"]
Urihttps://datasource.kapsarc.org/api/v2/catalog/datasets/what-drives-crude-oil-prices-monthly-updates
