In statistics, the Fisher transformation can be used to test hypotheses about the value of the population correlation coefficient ρ between variables X and Y. This is because, when the transformation is applied to the sample correlation coefficient, the sampling distribution of the resulting variable is approximately normal, with a variance that is stable over different values of the underlying true correlation.
To derive the Fisher transformation, one starts by considering an arbitrary increasing function of, say. Finding the first term in the large- expansion of the corresponding skewness results in Making it equal to zero and solving the corresponding differential equation for yields the function. Similarly expanding the mean and variance of, one gets and respectively. The extra terms are not part of the usual Fisher transformation. For large values of and small values of they represent a large improvement of accuracy at minimal cost, although they greatly complicate the computation of the inverse as a closed-form expression is not available. The near-constant variance of the transformation is the result of removing its skewness – the actual improvement is achieved by the latter, not by the extra terms. Including the extra terms yields: which has, to an excellent approximation, a standard normal distribution.
Discussion
The Fisher transformation is an approximate variance-stabilizing transformation for r when X and Y follow a bivariate normal distribution. This means that the variance of z is approximately constant for all values of the population correlation coefficient ρ. Without the Fisher transformation, the variance of r grows smaller as |ρ| gets closer to 1. Since the Fisher transformation is approximately the identity function when |r| < 1/2, it is sometimes useful to remember that the variance of r is well approximated by 1/N as long as |ρ| is not too large and N is not too small. This is related to the fact that the asymptotic variance of r is 1 for bivariate normal data. The behavior of this transform has been extensively studied since Fisher introduced it in 1915. Fisher himself found the exact distribution of z for data from a bivariate normal distribution in 1921; Gayen in 1951 determined the exact distribution of z for data from a bivariate Type AEdgeworth distribution. Hotelling in 1953 calculated the Taylor series expressions for the moments of z and several related statistics and Hawkins in 1989 discovered the asymptotic distribution of z for data from a distribution with bounded fourth moments.