covariance vs correlation

Question

In terms of data, what is the difference between correlation and covariance?

Answer 1

Both Correlation and Covariance are used as a measure to check how two variables change with respect to each other.

Covariance: It measures of change of how to variables change with respect to each other.

1. Covariance is unit dependent.
2. It varies from - infinity to infinity

An example of Covariance is: Height vs weight(kg) and Height vs weight(lbs) will have different covariance values

Correlation: It measures a unit of change between two variables which changes with respect to each other.

1. It does not depend on the unit.
2. It varies from -1 to 1.

An example of Correlation is: Height vs weight(kg) and Height vs weight(lbs) will have the same correlation values.