A correlation matrix is a standardized covariance matrix.

Name: A correlation matrix is a standardized covariance matrix.
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A correlation matrix differs from a covariance matrix in that it shows the standardized relationships between variables, where each variable is divided by its standard deviation. This makes the correlation coefficients comparable across variables, whereas in a covariance matrix the units of measurement are retained.

A Correlation Matrix Is a Standardized Covariance Matrix