Overview

One random variable or event is dependent on another when the two are not Independent. That is, information about one event or random variable will give us information about the other. There are multiple ways to measure the dependence between two random variables.

• Measures of Correlation
  • Covariance
  • Correlation
  • Copulas
• Causation - a type of depedence that extends beyond a mere correlation, which indicates one variable has caused, in some sense, the outcome of the other variable.