In probability theory and statistics, two real-valued random variables, X,Y, are said to be uncorrelated if their covariance, E(XY) - E(X)E(Y), is zero. A set of two or more random variables is called uncorrelated if each pair of them are uncorrelated. If two variables are uncorrelated, there is no linear relationship between them. Uncorrelated ra... Found on http://en.wikipedia.org/wiki/Uncorrelated
Two random variables X and Y are uncorrelated if E(XY)=E(X)E(y). Note that this does not guarantee they are independent. Source: Greene, 1993, p 64-65 Contexts: econometrics Found on http://www.econterms.com/glossary.cgi?query=uncorrelated