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Sojourn Coin (SOJ)

Correlation

0.91

Influence

82.81%

Bitcoin and Sojourn Coin Correlation

Does Sojourn Coin depend on Bitcoin? According to the correlation analysis, BTC and SOJ have a very strong positive relationship. The correlation coefficient of their prices is 0.91, which was calculated based on the last 100-days' price fluctuations of both coins.

This coefficient may change from -1 to 1, where -1 is the strongest negative correlation, 0 is no correlation at all and 1 is the strongest positive correlation.

The negative coefficient indicates that the prices of the currencies are moving in the reversed direction while the positive coefficient indicates that the prices are moving in the same trend. For instance, if Bitcoin and Sojourn Coin connection is positively strong, it means that when BTC is rising SOJ will grow as well. The negative strong relation will indicate that when BTC is rising SOJ price will be in contrary lowering.

The knowledge of the correlation coefficient helps to determine in percentage the influence of Bitcoin over Sojourn Coin. If we take all the aspects affecting the price of SOJ as 100%, then the share of BTC price among these factors will be 82.81%. The other part which is 17.19% covers all the other things, such as media, technological releases or politics.