In general, you can combine two clauses that would otherwise be independent sentences by separating them with a semi-colon. This tends to tie them together more closely than two separate sentences. You do not use a conjunction.
Two sentences: "Bob entered the room. He sat down."
Combined with conjunction: "Bob entered the room and he sat down."
Combined with semicolon: "Bob entered the room; he sat down."
In your example, the second clause does not appear to be a complete sentence. "Correlated" can be a verb but I think it is being used as an adjective here. If the intent is that it is a verb, then the example is completely correct.