A Proportional Reduction in Error (PRE) intreptretation for Γ2, the square of Daniels' generalized correlation coefficient is presented. This general interpretation theoretically consolidates the diverse PRE interpretations for the squared symmetric bivariate measures of association within the generalized product-moment system. These statistics include Pearson'sr2, Spearman'sρ2, Kendall'sτ{skb/2}, (φ2and various other pure and hybrid special cases of P. Since Γ2=π{skyx/2}, this general interpretation also holds for the special cases of the squared bivariate path coefficient.