Creating a Correlation Matrix in Excel 2011 Instructions for Mac Users

1. Copy and paste all needed variables into a new spreadsheet. 2. In a large empty space next to the variables, copy all of the variable

names and paste them into new columns. 3. You want a table that has the

same row labels, in the same order, as the column labels. So in the cell to the left of where you pasted the variable names, right-click and go to

Paste Special… Then, check the box next to the “Transpose” option and hit ok. This should give you a

table with symmetric column and row headers. 4. The correlation between a variable and itself is always 1, so type in a 1

in the upper left cell of the table and all along the diagonal. 5. In the cell under the second variable in the first row of the table, type in

=CORREL( and then select the column of the first variable. Then hit Command + T, which will lock this selection into place. Then, type a comma and then select the column of the second variable. After you are done, the formula should look something like this: =CORREL($A:$A,B:B)

6. Copy this cell and paste it along the rest of the first row. Since you locked the first variable selection into place, and the column selection will move over across the table, the row will be filled in with the correct correlation formulas.

7. Repeat steps 5 and 6 for the rest of the rows in your matrix. Remember, because of the symmetry of the table, you only have to fill in the upper half of the matrix (everything above the diagonal). You can leave the lower half null, since it will just be a copy of the upper half.