We study the intrinsic computational power of correlations exploited in measurement-based quantum computation. By defining a general framework the meaning of the computational power of correlations is made precise. This leads to a notion of resource states for measurement-based classical computation. Surprisingly, the Greenberger-Horne-Zeilinger and Clauser-Horne-Shimony-Holt problems emerge as optimal examples. Our work exposes an intriguing relationship between the violation of local realistic models and the computational power of entangled resource states.PACS numbers: 03.67. Lx, 03.65.Ud, 89.70.Eg A striking implication of measurement-based quantum computation (MBQC) is that correlations possess intrinsic computational power. MBQC is an approach to computation radically different to conventional circuit models. In a circuit model, information is manipulated by a network of logical gates. In contrast, in the standard model of MBQC (also known as "one-way" quantum computation) information is processed by a sequence of adaptive single-qubit measurements on an entangled multi-qubit resource state [1,2,3]. Impressive characterization of the necessary properties of quantum resource states that enable universal quantum computation in the measurement model has already been achieved [4,5]. However, it is not the quantum states themselves, but the correlated classical data returned by the measurements which embodies this computational power. A necessary ingredient to extract this power is a classical control computer (see Fig. 1), which processes and feeds forward measurement outcomes and directs future adaptive measurements. From this classical computer's perspective, the correlated measurement outcomes enable it to compute problems beyond its own power.In this Letter we will make the notion of the computational power of a correlated resource precise. By doing so, a natural classical analogue of measurement-based computation emerges and we find a link to quantum non-locality. Specifically, we show that the GreenbergerHorne-Zeilinger (GHZ) problem [6] and the ClauserHorne-Shimony-Holt (CHSH) construction [7] emerge as closely related to measurement-based classical computation (MBCC), as does the Popescu-Rohrlich non-local box [8].Framework for MBQC.-We wish to study the computational power of correlated resources in a more general setting than the particular models of MBQC which have been proposed [1,2,3,4,5]. To achieve this, let us first define a general framework of computational models which shares the essential features of MBQC. It consists of two components, a correlated multi-partite resource and a classical control computer. A correlated multipartite resource consists of a number of parties, which ex- change classical information with the control computer, see Fig. 1. The correlations in their outputs are solely due to their joint history and no direct communication between parties is allowed during the computation. There shall be just a single exchange of data with each party. This restriction is an import...