Hi Fahim,

It is possible, but the question is how do you interpret the reslts you get. For the specific question in your example (phase amplitude coupling) I suggest first to take both the low frequency phase and high frequency amplitude time series from the same region, as lower frequency phase reflect the excitability of the same region, that can be coupled to higher frequency amplitude that reflects the MUA.

Also, I suggest to see if there is a phase synchronisation within the same frequency band between the two region, and if you found a frequency band in which was a phase synchronisation, you can check the phase amplitude coupling you mentioned at your question

You can check other methds and their behavioural background at Canolty's review (Article The Functional Role of Cross-Frequency Coupling

Bests

András Puszta