How to Perform Correlation Analysis in Time Series data using R?

What is it correlation analysis? The concept of correlation is the same used in non-time series data: identify and quantify the relationship between two variables. Due to the continuous and chronologically ordered nature of time series data, there is a likelihood that there will be some degree of correlation between the series observations. Measuring and analyzing the correlation between two variables, in the context of time series analysis, can be understood by two different aspects: