Correlation is the magnitude of relationship
between two quantitative variables.
It is assumed that correlation follows a
linear pattern and ranges from -1 to 1 where -1 means complete opposite
relationship between the variables i.e. if one variable goes up then other
variable goes down while correlation of 1 means both variables are moving
together and in same direction.
Zero correlation means there is no relationship
between two variables and movement of these variables is independent of one
other.
Generally, a correlation (positive or negative) of
0.7 and above is consider as strong relationship, 0.5 to 0.7 as moderate and
below 0.5 as non-significant.
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