“Low correlation implies sustained output. High correlation implies big peaks and troughs.”
“For people new to wind power, a low correlation is good. A high correlation is bad. Why? If you have 1000x 3MW wind turbines and the correlation of output power between the turbines is high then they will be producing 3GW some of the time, 1.5GW some of the time, and 0GW some of the time – their output power rises and falls in unison.”
His first above statement applies to synchronized chaos I think. Low correlation is our average weather. High correlation is the synching that accompanies regime changes. It would apply to a market bubbles as well where everyone wants to buy and then sell. Does weather literally synch? A few nights ago my small lake finally froze over, going from 1% to 100% coverage. I’d guess it happened over 6 hours. Weakly correlated surface water all did something it does once a year, at the same time. It correlated for a few hours and the lake entered its Winter regime. Correlation would also apply to ice sheets. Gains equal losses, that’s weakly correlated. High correlation is significant sustained gains or losses. Some water is now doing something that usually just averages out.