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A correlation coefficient, usually called r, is a value between -1 and 1 that represents how strong of a relationship exists between two variables.
If r is close to 1, this means there is a strong positive relationship between the two variables: when one is high the other tends to be high, and vice versa.
If r is close to -1, this means there is a strong negative relationship between the two variables: when one is high the other tends to low, and vice versa.
If r is close to 0, that means there is no relationship between the variables.
In this case, the two variables being correlated are your BGG game ratings and another user's BGG game ratings.
As long as you have a sufficient number of commonly rated games with the other user (75 or more is a good bet), the correlation coefficient can give you a reasonable idea of how similar your tastes are!
This tool uses both the Pearson's r and Spearman's ρ. If you'd like to know more about the details of these statistical measures, their Wikipedia articles are a good place to start:
Pearson SpearmanIf you would like to compare your ratings to the BGG Geek Average instead of another user, just leave the second field blank!