The performance of NEM regarding the price differs every day. To make the best decision to buy NEM, we are analysis in this article the performance of NEM on the different weekdays. The amounts for this analysis are in USD ($). The analysis is performed on the last years, starting on June 1st, 2017 to January 25th, 2022.
In the barchart below, the weekdays and average performance of NEM are shown side by side.
According to the performance of NEM between June 1st, 2017 and January 25th, 2022, NEM performed the best on Thursdays. On average, the price of NEM increased 0.63% on Thursday.
The weekday on which the NEM performed the worst, is Friday. On Fridays, the NEM declined in value on average by -0.37%.
NEM weekday performance
On an average Sunday, the NEM increased 0.55%. However, since the expected deviation is 4.67%, the NEM will decline in value on a Sunday quiet regularly. The expected price change of the NEM on a Sunday is between -4.12% and 5.22%.
NEM increased in value on an average Monday only slightly. The average increase in value of the NEM was 0.25%. Allthough the NEM closed a little higher very day compared to the opening, the variability of this result is high, as shown by the standard deviation (3.39%). This means that on 68 percent of the Mondays, the change in price of the NEM is expected to be in the range of -3.14% and 3.64%.
NEM increased in value on an average Tuesday only slightly. The average increase in value of the NEM was 0.23%. Allthough the NEM closed a little higher very day compared to the opening, the variability of this result is high, as shown by the standard deviation (5.16%). This means that on 68 percent of the Tuesdays, the change in price of the NEM is expected to be in the range of -4.93% and 5.39%.
It is hard to tell whether the NEM will increase or decrease in value on an average Wednesday. The average change on a Wednesday for the NEM is -0.11%. However, the standard deviation on this weekday is 4.22%. This means that on most Wednesdays, the change in value of the NEM is between -4.33% and 4.11%.
Historical performance on Thursday do not show an increase in value of the NEM on which a prediction can be made. The NEM increased in value on average on an average Thursday with 0.63%. However, the uncertainty of this increase is high. The expected change in value of the NEM on a Thursday is between -8.12% and 9.38% (see also the table below).
Allthough the NEM decreases in value with -0.37% on an average Friday, the uncertainty of this decline is large. The standard deviation of the change of NEM on Fridays is 4.73%. This means that the expected change of the value of NEM is between -5.10% and 4.36% on 68 out of 100 Fridays.
On an average Saturday, the NEM increased 0.52%. However, since the expected deviation is 3.54%, the NEM will decline in value on a Saturday quiet regularly. The expected price change of the NEM on a Saturday is between -3.02% and 4.06%.
NEM weekday performance details
Find below the details of the performance of NEM 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||0.55%||4.67%||-4.12% to 5.22%|
|Monday||0.25%||3.39%||-3.14% to 3.64%|
|Tuesday||0.23%||5.16%||-4.93% to 5.39%|
|Wednesday||-0.11%||4.22%||-4.33% to 4.11%|
|Thursday||0.63%||8.75%||-8.12% to 9.38%|
|Friday||-0.37%||4.73%||-5.10% to 4.36%|
|Saturday||0.52%||3.54%||-3.02% to 4.06%|