A method and system for detecting correlations in a data set is provided. The method includes determining one or more parameters associated with one or more data sets. The one or more parameters are determined at runtime for generating one or more test data sets from the one or more data sets. A test data of the one or more test data sets comprises one or more objects and one or more indices. The one or more objects are associated with the one or more indices. The method further includes computing one or more correlation coefficients associated with the one or more test data sets. The one or more correlation coefficients are computed for detecting correlation corresponding to the one or more test data sets.