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How do I interpret r values? Ppl usually say <3 is weak, 4-6 is medium, and 7+ is strong, but that this is dependent on field - but i can't find anybody saying more about how this changes per field! I'd love to see a chart of what's a medium strength across different fields
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I think of an R value as describing how much of the variation can be predicted if you know the relevant variable (interestingly, this is literally what it means). Therefore the more complex the prediction, the lower your standard for a strong correlation.
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To be really precise, r^2 (as in squaring the r value) tells you what percentage of the variance in the dependent variable is predicted by your chosen independent variables.
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