Multiple Correlations and Multicollinearity

I was wondering if there is a way to get excel to run correlation test between every combination of 37 or 38 independent variable. I need to find the best way to reduce multicollinearity, and finding every possible correlation would give me the best idea of which direction to take. I know the actual computation would take quite a while, but the computer that would run the tests is very fast, so even 38! runs shouldn't take very long.

I was also wondering if there was a way to find correlation between one independent variable and every possible combination of the others, although this would take much more computing time and might not even be necessary.

Any guidance is appreciated!

That sounds like something you need a statistics package for.

"montreal1775" wrote:

>
> I was wondering if there is a way to get excel to run correlation test
> between every combination of 37 or 38 independent variable. I need to
> find the best way to reduce multicollinearity, and finding every
> possible correlation would give me the best idea of which direction to
> take. I know the actual computation would take quite a while, but the
> computer that would run the tests is very fast, so even 38! runs
> shouldn't take very long.
>
> I was also wondering if there was a way to find correlation between one
> independent variable and every possible combination of the others,
> although this would take much more computing time and might not even
> be necessary.
>
> Any guidance is appreciated!
>
>
> --
> montreal1775
> ------------------------------------------------------------------------
> montreal1775's Profile: http://www.excelforum.com/member.php...o&userid=36994
> View this thread: http://www.excelforum.com/showthread...hreadid=569518
>
>

Which are the best packages? Do you think they can run multiple correlation tests over several columns, or would I need to find a macro to do that?

Thanks for your response.

Also, I know Excel has a correlation function, so the only difficulty is automating it to run and rerun the test over a range. If you think there is a way to do so with a macro or otherwise, please let me know.

montreal1775 -

Tools | Data Analysis | Correlation

If Data Analysis doesn't appear on your Tools menu, check the Analysis
ToolPak box at Tools | Add-Ins. If it's not listed there, add it from your
Office/Excel installation CD.

Please don't post in multiple forums, and if you must, please state that you
are doing so.

- Mike
http://www.mikemiddleton.com

"montreal1775" <[email protected]>
wrote in message
news:[email protected]...
>
> I was wondering if there is a way to get excel to run correlation test
> between every combination of 37 or 38 independent variable. I need to
> find the best way to reduce multicollinearity, and finding every
> possible correlation would give me the best idea of which direction to
> take. I know the actual computation would take quite a while, but the
> computer that would run the tests is very fast, so even 38! runs
> shouldn't take very long.
>
> I was also wondering if there was a way to find correlation between one
> independent variable and every possible combination of the others,
> although this would take much more computing time and might not even
> be necessary.
>
> Any guidance is appreciated!
>
>
> --
> montreal1775
> ------------------------------------------------------------------------
> montreal1775's Profile:
> http://www.excelforum.com/member.php...o&userid=36994
> View this thread: http://www.excelforum.com/showthread...hreadid=569518
>