In statistics, the “standard error of the correlation coefficient” measures the accuracy of the estimated correlation coefficient. It indicates how much the observed correlation coefficient may vary if the study were repeated multiple times.Whereas The probable error (PE) of the correlation coefficient is another measure of the accuracy of the estimated correlation. It provides Kindly see the practical solution of these formulas via link :
Probable Error can be calculated as:
𝑃𝐸=0.6745×𝑆𝐸𝑟
Here, 0.6745 is a constant derived from the normal distribution.
Both SE_r and PE are useful in assessing the reliability of the estimated correlation coefficient. If the PE is large relative to the correlation coefficient, it suggests that the observed correlation might not be very reliable due to sampling variability.
Thanks a lot
