All of us at some point in the process of examining data, check for correlations among different variables in the data especially pair-wise correlations.
Among a large chunk of business analysts in industry, there exists a notion of ‘linear correlation coefficient’ being the only criterion for pair-wise correlation and hence at the maximum a Proc Corr is run in SAS to check for the same. This will of course be useful for finding out correlations between continuous variables. However it more often than not fails when confronted with real life data which frequently contains all kinds of variables, continuous, binary or multi-level categorical etc.
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