Algorand (ALGO)

Current price: $ 0.21

24 hours price change: $ 0.006800 (3.29%)

Daily analysis of Algorand (ALGO) - 1 year

The performance of Algorand regarding the price differs every day. To make the best decision to buy Algorand, we are analysis in this article the performance of Algorand on the different weekdays. The amounts for this analysis are in USD ($). The analysis is performed on the last 1 year, starting on July 5th, 2019 to July 4th, 2020.

In the barchart below, the weekdays and average performance of Algorand are shown side by side.

Average daily change in price of Algorand per weekday between 07/05/2019 and 07/04/2020.

According to the performance of Algorand between July 5th, 2019 and July 4th, 2020, Algorand performed the best on Thursdays. On average, the price of Algorand increased 1.26% on Thursday.

The weekday on which the Algorand performed the worst, is Monday. On Mondays, the Algorand declined in value on average by -1.20%.

Algorand weekday performance

It is hard to tell whether the Algorand will increase or decrease in value on an average Sunday. The average change on a Sunday for the Algorand is -0.16%. However, the standard deviation on this weekday is 2.29%. This means that on most Sundays, the change in value of the Algorand is between -2.46% and 2.13%.

The Algorand declines in value on an average Monday with -1.20%. However, the uncertainty (or standard deviation) is quite large, namely 3.47%. This means that it is not possible to say whether on a regular Monday the Algorand will increase or decrease in value.

Allthough the Algorand decreases in value with -0.41% on an average Tuesday, the uncertainty of this decline is large. The standard deviation of the change of Algorand on Tuesdays is 2.48%. This means that the expected change of the value of Algorand is between -2.89% and 2.07% on 68 out of 100 Tuesdays.

Allthough the Algorand decreases in value with -0.40% on an average Wednesday, the uncertainty of this decline is large. The standard deviation of the change of Algorand on Wednesdays is 2.72%. This means that the expected change of the value of Algorand is between -3.12% and 2.32% on 68 out of 100 Wednesdays.

On an average Thursday the Algorand shows an increase in value of 1.26%. However, the change of Algorand on most of the Thursdays is between -5.16% and 7.68%. Therefore it is hard to tell whether an average Thursday is a good day to start buying Algorands.

It is hard to tell whether the Algorand will increase or decrease in value on an average Friday. The average change on a Friday for the Algorand is -0.21%. However, the standard deviation on this weekday is 2.80%. This means that on most Fridays, the change in value of the Algorand is between -3.01% and 2.59%.

It is hard to tell whether the Algorand will increase or decrease in value on an average Saturday. The average change on a Saturday for the Algorand is -0.28%. However, the standard deviation on this weekday is 2.32%. This means that on most Saturdays, the change in value of the Algorand is between -2.59% and 2.04%.

Algorand weekday performance details

Find below the details of the performance of Algorand per day of the week. Both the average change in percentage and the standard deviation. The higher the standard deviation is, the higher the variation within the range of average change. Therefore, the 68% range has been added, which represents the change in price on 68% of the days.

Weekday Average change (%) Standard deviation (%) 68% range
Sunday -0.16% 2.29% -2.46% to 2.13%
Monday -1.20% 3.47% -4.67% to 2.27%
Tuesday -0.41% 2.48% -2.89% to 2.07%
Wednesday -0.40% 2.72% -3.12% to 2.32%
Thursday 1.26% 6.42% -5.16% to 7.68%
Friday -0.21% 2.80% -3.01% to 2.59%
Saturday -0.28% 2.32% -2.59% to 2.04%
 

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