This paper presents an exploration of different statistical association measures to automatically identify collocations from corpora in English, Portuguese, and Spanish. To evaluate the impact of the association measures we manually annotated corpora with three different syntactic patterns of collocations (adjective-noun, verb-object and nominal compounds). We took advantage of the PARSEME 1.1 Shared Task corpora by selecting a subset of 155k tokens in the three referred languages, in which we annotated 1, 526 collocations with their Lexical Functions according to the Meaning-Text Theory. Using the resulting gold-standard, we have carried out a comparison between frequency data and several well-known association measures, both symmetric and asymmetric. The results show that the combination of dependency triples with raw frequency information is as powerful as the best association measures in most syntactic patterns and languages. Furthermore, and despite the asymmetric behaviour of collocations, directional approaches perform worse than the symmetric ones in the extraction of these phraseological combinations.