The performance of Metal regarding the price differs every day. To make the best decision to buy Metal, we are analysis in this article the performance of Metal on the different weekdays. The amounts for this analysis are in USD ($). The analysis is performed on the last 1 month, starting on April 26th, 2022 to May 26th, 2022.
In the barchart below, the weekdays and average performance of Metal are shown side by side.
According to the performance of Metal between April 26th, 2022 and May 26th, 2022, Metal performed the best on Tuesdays. On average, the price of Metal increased 2.54% on Tuesday.
The weekday on which the Metal performed the worst, is Saturday. On Saturdays, the Metal declined in value on average by -4.13%.
Metal weekday performance
Metal increased in value on an average Sunday only slightly. The average increase in value of the Metal was 0.11%. Allthough the Metal closed a little higher very day compared to the opening, the variability of this result is high, as shown by the standard deviation (0.21%). This means that on 68 percent of the Sundays, the change in price of the Metal is expected to be in the range of -0.09% and 0.32%.
It is hard to tell whether the Metal will increase or decrease in value on an average Monday. The average change on a Monday for the Metal is -0.20%. However, the standard deviation on this weekday is 0.32%. This means that on most Mondays, the change in value of the Metal is between -0.52% and 0.12%.
On an average Tuesday the Metal shows an increase in value of 2.54%. However, the change of Metal on most of the Tuesdays is between -1.70% and 6.79%. Therefore it is hard to tell whether an average Tuesday is a good day to start buying Metals.
Metal increased in value on an average Wednesday only slightly. The average increase in value of the Metal was 0.07%. Allthough the Metal closed a little higher very day compared to the opening, the variability of this result is high, as shown by the standard deviation (0.36%). This means that on 68 percent of the Wednesdays, the change in price of the Metal is expected to be in the range of -0.29% and 0.44%.
The average increase of the Metal on an average Thursday is 0.50%. This is a small increase, however, the expected change of the Metal in 95% of the Thursdays is -0.41% and 1.41%. This means that only on 2.5% (or slightly over 1 Thursday per year) the expected change of the Metal is below -0.41%. On the other hand, you would not have to expect that the change on a single Thursday will be above 1.41%. This will also only happen on 2.5% of the Thursdays. On 68% of the Thursdays, the increase of the Metal will be in the range of 0.05% and 0.95%.
The Metal declines in value on an average Friday with -1.60%. However, the uncertainty (or standard deviation) is quite large, namely 2.17%. This means that it is not possible to say whether on a regular Friday the Metal will increase or decrease in value.
The decrease in value of the Metal is -4.13% on an average Saturday. The uncertainty of the average change is high for the Metal on Saturdays. This means that it is hard to tell whether the Metal will decrease or increase in value on an average Saturday. If we look at the 68% range of the Metal, we see that on 68% of the Saturdays, the expected change of the Metal is between -11.77% and 3.50%.
Metal weekday performance details
Find below the details of the performance of Metal 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||0.11%||0.21%||-0.09% to 0.32%|
|Monday||-0.20%||0.32%||-0.52% to 0.12%|
|Tuesday||2.54%||4.25%||-1.70% to 6.79%|
|Wednesday||0.07%||0.36%||-0.29% to 0.44%|
|Thursday||0.50%||0.45%||0.05% to 0.95%|
|Friday||-1.60%||2.17%||-3.76% to 0.57%|
|Saturday||-4.13%||7.63%||-11.77% to 3.50%|