What is an advantage of the correlation coefficient over the covariance?

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asked Jun 24, 2018 112k views

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Praveen Kalal · Answer 1 · 2018-06-30T18:59:46+0000

The advantage of the correlation measure over the covariance measure is that correlation is unit-free but covariance is not. Covariance is sensitive to the values of x and y. The correlation coefficient has been normalized and is unit-free.

What is an advantage of the correlation coefficient over the covariance?

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What is an advantage of the correlation coefficient over the covariance?