This paper compares Pearson, Spearman and Hoeffding's D measure as
similarity measures for DNA matching. It claims Hoeffding is the best.
http://www.ncbi.nlm.nih.gov/pubmed/19634197

Chasing down Hoeffding as a similarity measure, the closest I've come
is the Hoeffding Bound or Additive Chernoff Bound. Page 2, right-hand
column has a description of the algorithm:
http://www.cs.washington.edu/homes/pedrod/papers/kdd00.pdf

Is this the right base math? Given this formula for acceptable errors,
what would be the algorithm for a similarity measure?

Also, what does a negative correlation value mean? Should I just look
at the absolute value?

-- 
Lance Norskog
[email protected]

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