NEM (XEM)

Current price: $ 0.72

24 hours price change: $ 0.03 (3.98%)

Daily analysis of NEM (XEM) - 1 month

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 1 month, starting on February 6th, 2021 to March 6th, 2021.

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

Average daily change in price of NEM per weekday between 02/06/2021 and 03/06/2021.

According to the performance of NEM between February 6th, 2021 and March 6th, 2021, NEM performed the best on Saturdays. On average, the price of NEM increased 3.45% on Saturday.

The weekday on which the NEM performed the worst, is Tuesday. On Tuesdays, the NEM declined in value on average by -0.64%.

NEM weekday performance

On an average Sunday the NEM shows an increase in value of 1.77%. However, the change of NEM on most of the Sundays is between -2.19% and 5.72%. Therefore it is hard to tell whether an average Sunday is a good day to start buying NEMs.

It is hard to tell whether the NEM will increase or decrease in value on an average Monday. The average change on a Monday for the NEM is -0.25%. However, the standard deviation on this weekday is 1.01%. This means that on most Mondays, the change in value of the NEM is between -1.26% and 0.75%.

On Tuesdays, the NEM decreases in value on average with -0.64%. On most of the Tuesdays the NEM decreases in value between -3.03% and 1.75%. The uncertainty (2.39%) is higher than the average decline percentage (-0.64%). Therefore, expected range of price changes of the NEM on Tuesdays is large.

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 -0.13%. However, the standard deviation on this weekday is 4.15%. This means that on most Wednesdays, the change in value of the NEM is between -4.28% and 4.02%.

On an average Thursday the NEM shows a high increase in value, namely 1.34%. The standard deviation is below the average increase percentage (standard deviation is 1.30%), meaning that on 68% of the Thursdays the NEM will increase with a percentage between 0.04% and 2.64%. This also means that, on average, on 16 percent of the Thursdays, the NEM will increase with a percentage above this range. On the other 16% of the Thursdays, the NEM will change with a percentage below the 0.04%.

Allthough the NEM decreases in value with -0.49% on an average Friday, the uncertainty of this decline is large. The standard deviation of the change of NEM on Fridays is 3.66%. This means that the expected change of the value of NEM is between -4.15% and 3.18% on 68 out of 100 Fridays.

The increase in value of the NEM is 3.45% on an average Saturday. However, the uncertainty on the average change is high for the NEM on Saturdays. This is the reason why an expected increase of the NEM on an average Saturday cannot be predicted. The standard deviation for NEM on Saturdays is high, namely 4.56%. This means that the expected range of value change for the NEM is -1.11% and 8.01% on 68% of the Saturdays.

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 1.77% 3.95% -2.19% to 5.72%
Monday -0.25% 1.01% -1.26% to 0.75%
Tuesday -0.64% 2.39% -3.03% to 1.75%
Wednesday -0.13% 4.15% -4.28% to 4.02%
Thursday 1.34% 1.30% 0.04% to 2.64%
Friday -0.49% 3.66% -4.15% to 3.18%
Saturday 3.45% 4.56% -1.11% to 8.01%
 

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