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 23rd, 2023 to March 23rd, 2023.
In the barchart below, the weekdays and average performance of NEM are shown side by side.
According to the performance of NEM between February 23rd, 2023 and March 23rd, 2023, NEM performed the best on Mondays. On average, the price of NEM increased 2.05% on Monday.
The weekday on which the NEM performed the worst, is Friday. On Fridays, the NEM declined in value on average by -1.06%.
NEM weekday performance
On Sundays, the NEM decreases in value on average with -0.91%. On most of the Sundays the NEM decreases in value between -2.25% and 0.43%. The uncertainty (1.34%) is higher than the average decline percentage (-0.91%). Therefore, expected range of price changes of the NEM on Sundays is large.
On an average Monday the NEM shows an increase in value of 2.05%. However, the change of NEM on most of the Mondays is between -1.67% and 5.77%. Therefore it is hard to tell whether an average Monday 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 Tuesday. The average change on a Tuesday for the NEM is -0.30%. However, the standard deviation on this weekday is 1.13%. This means that on most Tuesdays, the change in value of the NEM is between -1.42% and 0.83%.
On an average Wednesday the NEM shows a high increase in value, namely 1.05%. The standard deviation is below the average increase percentage (standard deviation is 0.63%), meaning that on 68% of the Wednesdays the NEM will increase with a percentage between 0.42% and 1.69%. This also means that, on average, on 16 percent of the Wednesdays, the NEM will increase with a percentage above this range. On the other 16% of the Wednesdays, the NEM will change with a percentage below the 0.42%.
It is hard to tell whether the NEM will increase or decrease in value on an average Thursday. The average change on a Thursday for the NEM is -0.17%. However, the standard deviation on this weekday is 0.35%. This means that on most Thursdays, the change in value of the NEM is between -0.53% and 0.18%.
The NEM declines in value on an average Friday with -1.06%. However, the uncertainty (or standard deviation) is quite large, namely 0.78%. This means that it is not possible to say whether on a regular Friday the NEM will increase or decrease in value.
On an average Saturday the NEM shows an increase in value of 1.11%. However, the change of NEM on most of the Saturdays is between -1.16% and 3.37%. Therefore it is hard to tell whether an average Saturday is a good day to start buying NEMs.
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 | -0.91% | 1.34% | -2.25% to 0.43% |
| Monday | 2.05% | 3.72% | -1.67% to 5.77% |
| Tuesday | -0.30% | 1.13% | -1.42% to 0.83% |
| Wednesday | 1.05% | 0.63% | 0.42% to 1.69% |
| Thursday | -0.17% | 0.35% | -0.53% to 0.18% |
| Friday | -1.06% | 0.78% | -1.84% to -0.28% |
| Saturday | 1.11% | 2.26% | -1.16% to 3.37% |