⚠ Switch to EXCALIDRAW VIEW in the MORE OPTIONS menu of this document. ⚠

Variance probability

Text Elements

The correlation matrix can be viewed as the covariance matrix of the standardised random variables in the random vector; i.e. replacing each element of the covariance matrix Cij by ρij = Cij/σiσj hence the diagonal elements ρii = 1 where σi is the standard deviation of random variable i