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Between two random Variables, the correlation is a measure of the extent to which a change in one tends to correspond to a change in the other. One measure of linear Dependence is the Correlation coefficient p. If Variables are independent random Variables then p = 0. Values of +1 and -1 correspond to full positive and negative Dependence respectively. Note: the existence of some correlation need not imply that the link is one of cause and effect.
Acknowledgements: This Glossary is modified from Gouldby and Samuels, 2005, Language of risk – project definitions. FLOODsite Report T34/04/01