Some of the things I've learned every day since Oct 10, 2016
31: Rank Correlation
November 10, 2016Posted by on
The rank correlation between two ordinal variables, each with their own ordering or ‘ranking’, is a measure of the similarity of those variables’ respective orderings. For instance, if two variables have identical orderings, have independent orderings, or have reverse orderings, they would have rank correlations of 1, 0, and -1 in those respective cases.