 InvestHub.com's Finance Dictionary and Glossary of Investment Terms Correlation coefficient Definition 1.
A standardized statistical measure of the dependence of two random variables, defined as the covariance divided by thestandard deviations of two variables.  Definition 2.
A measure that determines the degree to which two variable's movements are associated. The correlation coefficient is calculated as:  Definition 3.
A statistical measure of the interdependence of two or more random variables. Fundamentally, the value indicates how much of a change in one variable is explained by a change in another. Used in portfolio analysis and modeling. 

