My data set looks like this:
P T O
1 1 0
1 0 1
1 1 1
0 1 0
1 1 0
My doubt is that we only have two values i.e. zero and one. That would logically mean that correlation can not compute the level of significance. My assumption is in this case it would be than calculating the coefficient based on occurrence of 4 combination i.e. {(1,1),(1,0),(0,1),(0,0)} rather than calculating in the magnitude of change in variables. But conversely if coefficient works only on magnitude of change, than is this the right method for my data set?
Could anyone tell me if I am on right track of thoughts or calculating such coefficient yields no significance?