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Image Credit: Arxiv

Standardization of Weighted Ranking Correlation Coefficients

  • A relevant problem in statistics is defining the correlation of two rankings of a list of items.
  • Weighted versions of the original Spearman and Kendall coefficients have emerged to address the greater importance of top ranks.
  • This standardization function maps a correlation ranking coefficient to a standard form with zero expected value.
  • The proposed standardization maintains the relevant statistical properties of the original coefficient.

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