Disclaimer: if you find this question to be too similar to another one, I happy for it to be merged. However, I did not find a satisfactory answer anywhere else (and do not yet have the "reputation" to comment or upvote), so I thought it would be best to ask a new question myself.

My question is this. For each of 12 human subjects, I have computed a correlation coefficient (Spearman's rho) between 6 levels of an independent variable X, and corresponding observations of a dependent variable Y. (Note: the levels of X are not equal across subjects.) My null hypothesis is that in the general population, this correlation is equal to zero. I have tested this hypothesis in two ways:

1. Using a one-sample t-test on the correlation coefficients obtained from my 12 subjects.

2. By centering my levels of X and observations of Y such that for each participant, mean(X) = 0 and mean(Y) = 0, and then computing a correlation over the aggregate data (72 levels of X and 72 observations of Y).

Now, from reading about working with correlation coefficients (here and elsewhere) I have started to doubt whether the first approach is valid. Particularly, I have seen the following equation pop up in several places, presented (apparently) as a t-test for average corelation coefficients:

$$t = \frac{r}{SE_{r}} = \frac{\sqrt{n-2}}{\sqrt{1-r^{2}}}$$

where $r$ would be the average correlation coefficient (and let's assume we've obtained this using Fisher's transformation first) and $n$ the number of observations. Intuitively, this seems wrong to me as it does not include any measure of the between-subject variability. In other words, if I had 3 correlation coefficients, I would get the same t-statistic whether they were [0.1, 0.5, 0.9] or [0.45 0.5 0.55] or any range of values with the same mean (and $n=3$)

I suspect, therefore, that the above equation does not in fact apply when testing the significance of an average of correlation coefficients, but when testing the significance of a single correlation coefficient based on $n$ observations of 2 variables.

Could anyone here please confirm this intuition or explain why it is wrong? Also, if this formula doesn't apply to my case, does anyone know a/the correct approach? Or perhaps my own test number 2 is already valid? Any help is greatly appreciated (including pointers to previous answers that I may have missed or misinterpreted).

Disclaimer: if you find this question to be too similar to another one, I happy for it to be merged. However, I did not find a satisfactory answer anywhere else (and do not yet have the "reputation" to comment or upvote), so I thought it would be best to ask a new question myself.

My question is this. For each of 12 human subjects, I have computed a correlation coefficient (Spearman's rho) between 6 levels of an independent variable X, and corresponding observations of a dependent variable Y. (Note: the levels of X are not equal across subjects.) My null hypothesis is that in the general population, this correlation is equal to zero. I have tested this hypothesis in two ways:

1. Using a one-sample t-test on the correlation coefficients obtained from my 12 subjects.

2. By centering my levels of X and observations of Y such that for each participant, mean(X) = 0 and mean(Y) = 0, and then computing a correlation over the aggregate data (72 levels of X and 72 observations of Y).

Now, from reading about working with correlation coefficients (here and elsewhere) I have started to doubt whether the first approach is valid. Particularly, I have seen the following equation pop up in several places, presented (apparently) as a t-test for average corelation coefficients:

$$t = \frac{r}{SE_{r}} = \frac{\sqrt{n-2}}{\sqrt{1-r^{2}}}$$

where $r$ would be the average correlation coefficient (and let's assume we've obtained this using Fisher's transformation on the per-subject coefficients first) and $n$ the number of observations. Intuitively, this seems wrong to me as it does not include any measure of the between-subject variability. In other words, if I had 3 correlation coefficients, I would get the same t-statistic whether they were [0.1, 0.5, 0.9] or [0.45 0.5 0.55] or any range of values with the same mean (and $n=3$)

I suspect, therefore, that the above equation does not in fact apply when testing the significance of an average of correlation coefficients, but when testing the significance of a single correlation coefficient based on $n$ observations of 2 variables.

Could anyone here please confirm this intuition or explain why it is wrong? Also, if this formula doesn't apply to my case, does anyone know a/the correct approach? Or perhaps my own test number 2 is already valid? Any help is greatly appreciated (including pointers to previous answers that I may have missed or misinterpreted).