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â¢ INDIRECT CORRELATION (noun). The noun INDIRECT CORRELATION has 1 sense: 1. a correlation in which large values of one variable are associated with small values of the other; the correlation coefficient is between 0 and -1. Familiarity information: INDIRECT CORRELATION used as a noun is very rare. Dictionary entry details.
The correlation in opposite direction is called negative correlation, if one variable is increase other is decrease and vice versa, for example, the volume of gas will decrease as the pressure increase or the demand of a particular commodity is increase as price of such commodity is decrease.