Normally the correlation energy is defined to be:
$E_{corr}^{basis} = E_{FCI}^{basis} - E_{HF}^{basis}$
where the superscript basis denotes each calculated in a fixed basis set. The correlation energy must be $E_{corr}^{basis}\leq 0$. This is because the the full configuration interaction (FCI) wavefunction allows N electrons to be distributed in M spin orbitals (there are N choose M Slater determinants). Whereas, Hartree-Fock (HF) only allows electrons to fill the N lowest lying orbitals (a single Slater determinant). I.e. in a qualitative way the electrons can distribute themselves in more ways in FCI than HF. In more handwavey terms, the mathematics of FCI allow more arrangements of electrons such that they can position themselves in a better way such that the energy is lowered. As Kristof answer details this is how electrons 'avoid' each other.
In fact FCI includes the HF state and so by the variational principle $E_{FCI}^{basis}$ cannot be greater than $E_{HF}^{basis}$ hence why $E_{corr}^{basis} \leq 0$.
It turns out that for naturally occurring molecular systems it is energetically favorable to be bonded together - as seen in nature (usually at least). When we calculate the energy of separated atoms (i.e. split them apart to infinity) and vs at equilibrium bond length. The energy of the system together is lower (more stable) than dissociated and is why it costs energy to split molecular systems in a lab apart. I guess this is why electron correlation can be called "chemical glue", although I would avoid using the term in a computational chemistry paper as it isn't really correct to think of it as
'glue'. Yes it does cause things to bond, but this stems from the wavefunction of the system and has a more mathematical interpretation as discussed above. *Having said that, I think it is perfectly okay to use this phrase in a non-technical setting.