Sir! I am not sure about it but yes you can develop as many tools as you like according to your need in ArcGIS if you have good knowledge of python in arcpy. You can also download these tools from random websites.

Hello, please use from GeoDa software.

in this software you will could analysis Autocorrelation of tow factor in the same time.

good luck

Check this

https://www.researchgate.net/publication/267979992_An_integrated_user-friendly_ArcMAP_tool_for_bivariate_statistical_modeling_in_geoscience_applications

Hey there! I researched a little about your question lately. It seems OLS can solve your problem. There is ArcGIS online help too. Go through it before you start on OLS tool.

http://desktop.arcgis.com/en/arcmap/10.3/tools/spatial-statistics-toolbox/ordinary-least-squares.htm

Hope it'll help!

Many thanks Khan

your help appreciated