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I'm having difficult understanding how to interpret a normalized cross correlation after using the function in Matlab for my research project. I've read through the Matlab help page and several other documents, but haven't found a clear answer in layman terms.

I understand that at lag = 0, I get the max correlation coefficient with the normalized or "coeff" setting. However, I don't really understand what this tells me about how the two signals relate to one another or what value (r at what lag) I should be using to answer this question.

If I want to know, say over 100 trials, how these two signals are related, what should I actually be using in the output?

Any help would be appreciated.

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