The technique of correlation analysis is employed to find out the magnitude of relationship

between the variables of interest. It is usually done as a preliminary test to find out whether
the relationship exists or not. The dependent variables include Return on Equity, Return on
Assets, Tobin’s Q, Profit Margin, Financial and Operational Sustainability as well as social
indicators such as Breadth of outreach, Cost of outreach, Length of outreach, Worth of
outreach, Scope of outreach and Width of outreach. The independent variables include Net
Worth, Asset Tangibility, Firm Size, Debt Equity Ratio and Debt to Asset Ratio.
The correlation coefficient of 0 to 0.5 signifies less to moderate association while values
greater than 0.5 signify stronger association. Negative values indicate negative association
between variables.