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All existing video coding standards developed so far deem video as a sequence of natural frames (formed in the XY plane), and treat spatial redundancy (redundancy along X and Y directions) and temporal redundancy (redundancy along T direction) differently and separately. In this paper, we investigate into a new compression (redundancy reduction) method for video in which the frames are allowed to be formed in a non-XY plane. We are to exploit fuller extent of video redundancy, and propose an adaptive optimal compression plane determination process to be used as a preprocessing step prior to any standard video coding scheme. The essence of the scheme is to form the frames in the plane formed by two axes (among X, Y, and T) corresponding to signal correlation evaluation, which enables better prediction (therefore better compression). In spite of the simplicity of the proposed method, it can be used for both lossless and lossy compression, and with and without interframe prediction. Extensive experimental results show that the new coding method improves the performance of the video coding for a number of coding methods (inclusive of lossless and near-lossless Motion JPEG-LS, Motion JPEG, Motion JPG2K, H.264 intraonly profile, and H.264) and videos with different visual content.