Metal (MTL)

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Daily analysis of Metal (MTL) - 1 month

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 20th, 2024 to May 17th, 2024.

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

Average daily change in price of Metal per weekday between 04/20/2024 and 05/17/2024.

According to the performance of Metal between April 20th, 2024 and May 17th, 2024, Metal performed the best on Fridays. On average, the price of Metal increased 0.25% on Friday.

The weekday on which the Metal performed the worst, is Tuesday. On Tuesdays, the Metal declined in value on average by -1.66%.

Metal weekday performance

On Sundays, the Metal decreases in value on average with -0.79%. On most of the Sundays the Metal decreases in value between -1.61% and 0.03%. The uncertainty (0.82%) is higher than the average decline percentage (-0.79%). Therefore, expected range of price changes of the Metal on Sundays is large.

Metal increased in value on an average Monday only slightly. The average increase in value of the Metal was 0.09%. 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 (0.15%). This means that on 68 percent of the Mondays, the change in price of the Metal is expected to be in the range of -0.06% and 0.23%.

The Metal declines in value on an average Tuesday with -1.66%. However, the uncertainty (or standard deviation) is quite large, namely 2.88%. This means that it is not possible to say whether on a regular Tuesday the Metal will increase or decrease in value.

The Metal will almost not change or only slightly increase in value on an average Wednesday. The average change of the Metal on Wednesdays is 0.22%. The standard deviation of the Metal is 0.18%, which means that in 68% of the Wednesdays, the range of the change of the Metal is 0.04% and 0.40%. The uncertainty (or variablility) of the expected daily result is low, because the standard deviation is low.

It is hard to tell whether the Metal will increase or decrease in value on an average Thursday. The average change on a Thursday for the Metal is -0.05%. However, the standard deviation on this weekday is 0.16%. This means that on most Thursdays, the change in value of the Metal is between -0.21% and 0.11%.

Metal increased in value on an average Friday only slightly. The average increase in value of the Metal was 0.25%. 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 (0.59%). This means that on 68 percent of the Fridays, the change in price of the Metal is expected to be in the range of -0.35% and 0.84%.

It is hard to tell whether the Metal will increase or decrease in value on an average Saturday. The average change on a Saturday for the Metal is -0.25%. However, the standard deviation on this weekday is 0.40%. This means that on most Saturdays, the change in value of the Metal is between -0.64% and 0.15%.

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 -0.79% 0.82% -1.61% to 0.03%
Monday 0.09% 0.15% -0.06% to 0.23%
Tuesday -1.66% 2.88% -4.54% to 1.22%
Wednesday 0.22% 0.18% 0.04% to 0.40%
Thursday -0.05% 0.16% -0.21% to 0.11%
Friday 0.25% 0.59% -0.35% to 0.84%
Saturday -0.25% 0.40% -0.64% to 0.15%
 

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