  Challenging Mermin's perspective that ``correlations have physical reality;
that which they correlate does not'' we argue that correlations and correlata
are not fundamentally distinct. These are dual concepts depending on the tensor
product decomposition defining subsystems. Since the same quantum states may be
either entangled or separable, but with respect to alternative tensor product
structures, a spatial correlation in one context can become a temporal
correlatum in another, and vice versa. In consequence, 2-qubit states invariant
under $V\otimes V$ can be either entangled or unentangled, in conflict with the
well known uniqueness theorem about the singlet state, a fact with possible
implications for the quantum measurement theory.
