What does an r²-value of 0.0-0.3 indicate?

An r²-value, or coefficient of determination, quantifies how well the data fits a statistical model. When the r²-value falls between 0.0 and 0.3, it indicates a weak correlation between the variables being analyzed. This means that there is a very limited relationship between them; the model does not explain much of the variability in the data.

In practical terms, with an r²-value in this range, changes in one variable are not closely associated with changes in another; thus, predictions or insights derived from this correlation would generally not be very reliable. This weak correlation implies that even though there might be slight tendencies or patterns, they are not strong enough to suggest a meaningful relationship. Understanding this helps in interpreting statistical data and in identifying when a model may need improvement or when a different analytical approach might be necessary.