Suppose I have a a vector of correlations between the target and the variables:
 0.550740873 0.392085002 0.366500158 0.323678671 0.287849277 0.087884394 0.058511638  -0.001433074 -0.043025966 -0.160413561 -0.250894036 -0.271016826 -0.278879869 -0.303903240  -0.304250965 -0.340604136 -0.461963084 -0.462235863 -0.485940670 -0.666877216
I'd like to know, which of the variables, out of the ones I have, have a strong relationship with the target.
Just to clarify, I know what correlation means intuitively and mathematically. For instance, I know that if correlation is 1, it's strongly positive, and if it's -1, then it's strongly negative, and anything in between [-1,1] would be slightly less correlated.
My attempt to answer this question would be to calculate the mean of the absolute values of these correlation coefficients, which is
0.3. And so, I would say that every variable which has correlation higher than
0.3 or lower than
-0.3 would qualify for a "Stronger than average relationship with the target variable".
Would this be wrong to do?