In reply to Ksharp.

I don't know, you'd have to check the doc. The CL can substitute for the p-value for the null hypothesis H0: rho=rho0, where usually we are interested in H0: rho=0. In that case, you construct a CL at the alpha significance level. If 0 is outside of the CL, you can reject the null hypothesis. In that sense, I prefer to see a CL because it is more flexible.