I have used EFA with geomin rotation on a sample of 319 respondents.
I am in a similar situation to many of the people who have posted on this thread. A reviewer has asked me for the percent of variance explained. I have reviewed every post, and I understand that % variance explained is a measure for PCA, not EFA, and that the goal of EFA is to reproduce the correlation matrix.
In doing some reading about summarizing and reporting EFA, I found a citation that suggests that the percentage of explained variance can serve as a means of assessing how much the correlation matrix is reproduced.
The citation can be found here:
Lorenzo-Seva, U. (2013). How to report the percentage of explained common variance in exploratory factor analysis. Technical Report. Department of Psychology, Universitat Rovira i Virgili, Tarragona. Document available at: http://psico.fcep.urv.cat/utilitats/factor/
I have two questions:
1. Is reporting the percentage of explained common variance a reasonable way to summarize a oblique rotation? (In the working paper, Lorenzo-Seva uses Varimax)
2. Is there a way to calculate the percentage of explained common variance in MPlus?