A correlation of 0.4 means that of the average of 17 IQ points separating two randomly chosen individuals (within sex and population), about 7 IQ points would derive from the differences in the sizes of their brains.
"researchers have cautioned against oversimplifying this view. A meta-analytic review by McDaniel found that the correlation between Intelligence and in vivo brain size was larger for females (0.40) than for males (0.25).[14] The same study also found that the correlation between brain size and Intelligence differed for age within sex, with children showing smaller correlations.[14] Furthermore, the hypothesis has been put forward that the relationship between larger brain volumes and higher intelligence is facilitated not by the global increase of brain volume, but instead by the enlargement of selective parts of the brain associated with specific tasks.[9] For example, monolingual adolescents learning new words is displayed growth in gray matter density in bilateral posterior supramarginal gyri directly related to the number of words learned.[15] Similarly, learning to juggle increased grey matter volume in the occipito-temporal cortex for subjects who could not juggle previously,[16] indicating that brain volume is dependent on a large variety of things and not a perfect measure for intelligence."