We study the impact of induced correlations and quasiparticle properties by immersing two distinguishable impurities in a harmonically trapped bosonic medium. It is found that when the impurities couple both either repulsively or attractively to their host, the latter mediates a two-body correlated behavior between them. In the reverse case, namely the impurities interact oppositely with the host, they feature anti-bunching. Monitoring the impurities relative distance and constructing an effective two-body model to be compared with the full many-body calculations, we are able to associate the induced (anti-) correlated behavior of the impurities with the presence of attractive (repulsive) induced interactions. Furthermore, we capture the formation of a bipolaron and trimer state in the strongly attractive regime, where the latter consists of two impurities and a medium atom. Our results open the way for controlling polaron induced correlations and creating relevant bound states.