1. A method for classifying and correlating simulation components to functional models, the method performed by a data processing system and comprising: receiving a simulation component library comprising a plurality of simulation components into a memory of the data processing system; parsing the plurality of simulation components from the simulation component library; analyzing a plurality of extracted functions into a plurality of function graphs for each of the plurality of simulation components, wherein the plurality of extracted functions includes one or more of a plurality of interface-derived functions, a plurality of structural-derived functions, a plurality of equation-derived functions, a plurality of algorithmic-derived functions, a plurality of parameter-derived functions, and a plurality of internal variable-derived functions, and wherein the plurality of function graphs includes one or more of an interface function graph, a structural function graph, an equation function graph, an algorithmic function graph, a parameter function graph, and an internal variable function graph; composing an extracted functions graph with the plurality of extracted functions of the plurality of function graphs; and storing the extracted functions graph of the plurality of extracted functions in a components-to-function database.