Abstract: The maximal correlation coefficient is a well-established generalization of the Pearson correlation coefficient for measuring non-linear dependence between random variables. It is appealing ...

For 2 × k contingency tables, we consider the statistic r*, the maximal correlation between the row and column variables, where the maximum is taken over all possible sets of scores (or "scales" or ...

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Correlation coefficients range from -1 to +1, indicating the strength of relationships between variables. Investors use correlation coefficients for portfolio diversification to reduce risk.