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 December 22nd, 2021 to January 22nd, 2022.
In the barchart below, the weekdays and average performance of NEM are shown side by side.
According to the performance of NEM between December 22nd, 2021 and January 22nd, 2022, NEM performed the best on Saturdays. On average, the price of NEM increased 0.91% on Saturday.
The weekday on which the NEM performed the worst, is Thursday. On Thursdays, the NEM declined in value on average by -0.53%.
NEM weekday performance
NEM increased in value on an average Sunday only slightly. The average increase in value of the NEM was 0.18%. 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 (0.31%). This means that on 68 percent of the Sundays, the change in price of the NEM is expected to be in the range of -0.13% and 0.49%.
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 -0.19%. However, the standard deviation on this weekday is 0.17%. This means that on most Mondays, the change in value of the NEM is between -0.36% and -0.01%.
Allthough the NEM decreases in value with -0.33% on an average Tuesday, the uncertainty of this decline is large. The standard deviation of the change of NEM on Tuesdays is 0.89%. This means that the expected change of the value of NEM is between -1.22% and 0.57% on 68 out of 100 Tuesdays.
On an average Wednesday, the NEM increased 0.33%. However, since the expected deviation is 0.49%, the NEM will decline in value on a Wednesday quiet regularly. The expected price change of the NEM on a Wednesday is between -0.16% and 0.82%.
Allthough the NEM decreases in value with -0.53% on an average Thursday, the uncertainty of this decline is large. The standard deviation of the change of NEM on Thursdays is 0.88%. This means that the expected change of the value of NEM is between -1.41% and 0.35% on 68 out of 100 Thursdays.
Allthough the NEM decreases in value with -0.30% on an average Friday, the uncertainty of this decline is large. The standard deviation of the change of NEM on Fridays is 1.55%. This means that the expected change of the value of NEM is between -1.85% and 1.24% on 68 out of 100 Fridays.
The expected range of change of the NEM for an average Saturday is between 0.53% and 1.29%. This is the result of an average increase in value of 0.91% and a standard deviation of %STANDARD_DEVIATION%}. This expected increase of value is calculated over the last 1 month.
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||0.18%||0.31%||-0.13% to 0.49%|
|Monday||-0.19%||0.17%||-0.36% to -0.01%|
|Tuesday||-0.33%||0.89%||-1.22% to 0.57%|
|Wednesday||0.33%||0.49%||-0.16% to 0.82%|
|Thursday||-0.53%||0.88%||-1.41% to 0.35%|
|Friday||-0.30%||1.55%||-1.85% to 1.24%|
|Saturday||0.91%||0.38%||0.53% to 1.29%|