A correlation matrix is a table or matrix that shows the correlation coefficients between a set of variables. The correlation coefficient is a measure of how closely two variables are related. Each element in the matrix represents the correlation between two variables. For example, if we have three variables, X, Y, and Z, a correlation matrix would show the correlations between each pair of variables, such as the correlation between X and Y, X and Z, and Y and Z. Correlation matrices are commonly used in statistics and data analysis to identify patterns and relationships between variables.
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