Correlations: Crude Oil and Other Commodities
Correlation describes the strength and direction of a linear relationship between two quantitative variables. In other words it is a measurement of the degree of association between two sets of numbers that describes how closely the two numbers track each other or are related to one another. In our analysis we have assessed the linear relationships between crude oil prices and other commodities prices. Brent crude oil cash prices have been used as a proxy to crude oil.
KeywordsScatter Plot Coffee Price Corn Price Perfect Positive Correlation Cotton Price
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