I implemented the approach mentioned in this answer and applied it to a car dataset, where I am focused on the correlation between brand (categorical) and the price (continuous variable). The description of the data could be found here.
The result I got looks like following, where I only include the correlation of maximum and minimum absolute value.
... mercedes-benz: 0.5603995843314602 ... nissan: -0.06261400477790607 ...
However, I am not sure how should I interpret this result. More specifically, does this mean "mercedes-benz" has larger correlation (absolute value) because the brand name could better explain the price while "nissan" could not?