I tried to perform a factor analysis with two significant factors.
[Lambda, Psi] = factoran(R,2,'xtype','covariance')
where matrix R is a 4x4 pairwise correlation matrix. Unfortunately I got the following error:
Error using factoran (line 139)
The number of factors requested, M, is too large for the number of the observed
variables.
Why do I get the error and how I can walk around to find factor loadings?