You would be best served using the COLLIN option in Proc REG to assess collinearity.
The numbers listed in the "Collinearity Diagnostics" table represent the number of eigenvalues extracted from the rescaled X`X matrix. They are listed from largest to smallest.
You can look at the Condition Number to determine if there is any collinearity. The condition indices are the square roots of the ratio of the largest eigenvalue to each individual eigenvalue. The largest condition index is the condition number of the scaled X matrix. Belsey, Kuh, and Welsch (1980) suggest that, when this number is around 10, weak dependencies may be starting to affect the regression estimates. When this number is larger than 100, the estimates may have a fair amount of numerical error (although the statistical standard error almost always is much greater than the numerical error). For each variable, PROC REG produces the proportion of the variance of the estimate accounted for by each principal component. A collinearity problem occurs when a component associated with a high condition index contributes strongly (variance proportion greater than about 0.5) to the variance of two or more variables.
The VIF option in the MODEL statement provides the Variance Inflation Factors (VIF). These factors measure the inflation in the variances of the parameter estimates due to collinearities that exist among the regressor (dependent) variables. There are no formal criteria for deciding if a VIF is large enough to affect the predicted values, although some authorities (Myers 1990) state that values exceeding 10 may be cause for concern. The variables with the larger VIF values may indicate that those variables are the ones involved in the collinearity.
... View more