What is the best (most simple and robust) test statistic to measure the overall degree of association (inter-dependence, correlation or covariance?) between multiple binary variables?
I have been looking at multiple regression, but I think this is too complex as it is used to model the actual relationship for prediction, rather than to measure the degree of correlation.
So let's say we have k binary (binomial) variables, and a sample size of n observations per variable, where each variable occurs (positive case) at a given frequency/probability f.
How would we measure the degree of correlation between these variables, and how does the p-value of that metric depend on n, k and f?