How to Make a Correlation Table in Excel (5 Handy Ways)

We have the following sample dataset containing sales records of Laptops, Mobile and Routers for different years. We will create a correlation table for demonstrating a relationship between sales values among these products.

how to make a correlation table in excel

 


Method 1 – Using Analysis Toolpak to Make a Correlation Table in Excel

Steps:

  • Go to File.

  • Select Options.

The Excel Options dialog box will open up.

  • Click on the Add-ins tab, select Excel Add-ins from Manage options and press Go.

add-ins

The Add-ins window will pop up.

  • Check the Analysis Toolpak option and press OK.

analysis toolpak

Following this process, you will be able to enable the toolpak.

  • Go to the Data tab >> Analyze group >> Data Analysis.

The Data Analysis wizard will pop up.

  • Choose the Correlation option and press OK.

correlation option

  • In the Correlation dialog box, select the Input Range as $C$3:$E$8, Output Range as $B$10.
  • Choose the option Columns under Grouped By, check Labels in first row option and press OK.

You will get a correlation table below your original dataset.

final result after making a correlation table in Excel

Read More: How to Make Correlation Heatmap in Excel


Method 2 – Applying CORREL Function to Make a Correlation Table in Excel

We will be using the CORREL function to create the correlation table for the following sample dataset. We have created a format of this table below the dataset where the names of the products are written as column headers and row headers.

Applying CORREL Function to Make a Correlation Table in Excel

Steps:

  • Add the following formula in cell C11.
=CORREL($C$4:$C$8, C$4:C$8)

$C$4:$C$8 is the first array that we have referenced absolutely to fix this range for this Laptop row. And C$4:C$8 is the second array which will be fixed by rows but varies with columns.

We have completed the first row for the product Laptop.

  • For determining relationships between Mobile and the other products, use the following formula.
=CORREL($D$4:$D$8,C$4:C$8)

  • Use the following formula for the row of the product Router.
=CORREL($E$4:$E$8,C$4:C$8)

Applying CORREL Function to Make a Correlation Table in Excel

Read More: How to Calculate Autocorrelation in Excel


Method 3 – Use of CORREL and TRANSPOSE Functions

We will use the combination of the TRANSPOSE and CORREL functions to create the correlation table of the products of the following sample dataset.

Use of CORREL and TRANSPOSE Functions to make a correlation table in Excel

Steps:

  • Press CTRL+C after selecting the dataset to copy it.

  • Select the cell where you want to paste (we have selected B11), right-click and choose Transpose from the Paste Options.

The dataset will be transposed as shown in the following image.

transposed

  • Add the following formula in cell G4.
=CORREL(C$4:C$8,$C12:$G12)

Formula Breakdown

C$4:C$8 → It is the first array from the main dataset, where we have fixed the rows.

$C12:$G12 → This range represents the second array situated in the transposed dataset, where we have fixed the columns.

  • Drag the Fill Handle tool to the right and down.

The following correlation table will be displayed.

Use of CORREL and TRANSPOSE Functions to make a correlation table in Excel

Read More: How to Calculate Partial Correlation in Excel


Method 4 – Combination of CORREL and OFFSET Functions to Make a Correlation Table in Excel

In the table where we will calculate the correlated data, we have listed the serial numbers from 1 to 3 above the column headers and beside the row headers.

Combination of CORREL and OFFSET Functions to Make a Correlation Table in Excel

Steps:

  • Add the following formula in cell D12.
=CORREL(OFFSET($B$3:$E$8,1, D$10,5,1), OFFSET($B$3:$E$8,1,$B12,5,1))

Formula Breakdown

OFFSET($B$3:$E$8,1, D$10,5,1) → it is the first array, where $B$3:$E$8 is the main range, 1 is the row number by which the range will go down, D$10 is the column number by which the range will go to the right, 5 is the total row height to be extracted, and 1 is the column number to be extracted.

OFFSET($B$3:$E$8,1,$B12,5,1) → It will extract a range for the second array.

  • Drag the Fill Handle tool to the right and down.

The correlation table will be created.

Combination of CORREL and OFFSET Functions to Make a Correlation Table in Excel

Read More: Find Correlation Between Two Variables in Excel


Method 5 – Utilizing ADDRESS and INDIRECT Functions with CORREL Function in Excel

For this method, we have to define the start range and end range of the three columns for the products.

Utilizing ADDRESS and INDIRECT Functions with CORREL Function to make a correlation table in Excel

Steps:

  • Enter the serial numbers of the columns for the products- Laptop, Mobile and Router.

  • Add the following formula in cell H4.
=ADDRESS(4, G4)

4 is the starting row number with a value in the Laptop column and G4 is the column number.

  • Drag down the Fill Handle.

address

 

  • After having the starting ranges, enter the following formula in cell I4.
=ADDRESS(8, G4)

8 is the ending row number with a value in the Laptop column and G4 is the column number.

  • Drag down the Fill Handle.

We have completed the ranges.

  • Add the following formula in cell C11.
=CORREL(INDIRECT($H4&":"&$I4), C$4:C$8)

Formula Breakdown

INDIRECT($H4&”:”&$I4)it is the first array, where $C$4:$C$8 will be the range.

C$4:C$8 → This range represents the second array where we have fixed the rows.

  • Drag the Fill Handle tool to the right and down.

We have created the following correlation table.

Utilizing ADDRESS and INDIRECT Functions with CORREL Function to make a correlation table in Excel


How to Make a Correlation Matrix with Colors in Excel

A correlation matrix is similar to the correlation table created in Method 1. But in this matrix, the cells are colored depending on the ranges.

Make a Correlation Matrix with Colors in Excel

  • To highlight the cells of this table, select the range.
  • Go to the Home tab >> Conditional Formatting dropdown >> New Rule.

  • In the New Formatting Rule dialog box, select the Format all cells based on their values option.

conditional formatting

  • Choose the Format Style as a 2-Color Scale (because we have a range between 0 and 1).
  • Select the following options for Minimum and Maximum values and press OK.

The colors will appear, where Yellow represents 1 and the values between 0 and 1 are represented through the gradient colors.

Make a Correlation Matrix with Colors in Excel

 


Download Practice Workbook


Related Articles


<< Go Back to Excel Correlation | Excel for Statistics | Learn Excel

Get FREE Advanced Excel Exercises with Solutions!
Tanjima Hossain
Tanjima Hossain

TANJIMA HOSSAIN is a marine engineer who enjoys working with Excel and VBA programming. For her, programming is a handy, time-saving tool for managing data, files, and online tasks. She's skilled in Rhino3D, Maxsurf C++, MS Office, AutoCAD, and Excel & VBA, going beyond the basics. She holds a B.Sc. in Naval Architecture & Marine Engineering from BUET and is now a content developer. In this role, she creates tech-focused content centred around Excel and VBA. Apart from... Read Full Bio

We will be happy to hear your thoughts

Leave a reply

Advanced Excel Exercises with Solutions PDF

 

 

ExcelDemy
Logo