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 3 months, starting on October 26th, 2021 to January 26th, 2022.
In the barchart below, the weekdays and average performance of NEM are shown side by side.
According to the performance of NEM between October 26th, 2021 and January 26th, 2022, NEM performed the best on Wednesdays. On average, the price of NEM increased 0.77% on Wednesday.
The weekday on which the NEM performed the worst, is Monday. On Mondays, the NEM declined in value on average by -0.65%.
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 (1.31%). This means that on 68 percent of the Sundays, the change in price of the NEM is expected to be in the range of -1.13% and 1.49%.
On Mondays, the NEM decreases in value on average with -0.65%. On most of the Mondays the NEM decreases in value between -2.04% and 0.73%. The uncertainty (1.39%) is higher than the average decline percentage (-0.65%). Therefore, expected range of price changes of the NEM on Mondays is large.
Allthough the NEM decreases in value with -0.58% on an average Tuesday, the uncertainty of this decline is large. The standard deviation of the change of NEM on Tuesdays is 1.58%. This means that the expected change of the value of NEM is between -2.17% and 1.00% on 68 out of 100 Tuesdays.
Historical performance on Wednesday do not show an increase in value of the NEM on which a prediction can be made. The NEM increased in value on average on an average Wednesday with 0.77%. However, the uncertainty of this increase is high. The expected change in value of the NEM on a Wednesday is between -0.87% and 2.41% (see also the table below).
Allthough the NEM decreases in value with -0.45% on an average Thursday, the uncertainty of this decline is large. The standard deviation of the change of NEM on Thursdays is 3.63%. This means that the expected change of the value of NEM is between -4.08% and 3.19% on 68 out of 100 Thursdays.
On an average Friday, the NEM increased 0.54%. However, since the expected deviation is 1.76%, the NEM will decline in value on a Friday quiet regularly. The expected price change of the NEM on a Friday is between -1.22% and 2.29%.
On an average Saturday, the NEM increased 0.57%. However, since the expected deviation is 2.28%, the NEM will decline in value on a Saturday quiet regularly. The expected price change of the NEM on a Saturday is between -1.71% and 2.86%.
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%||1.31%||-1.13% to 1.49%|
|Monday||-0.65%||1.39%||-2.04% to 0.73%|
|Tuesday||-0.58%||1.58%||-2.17% to 1.00%|
|Wednesday||0.77%||1.64%||-0.87% to 2.41%|
|Thursday||-0.45%||3.63%||-4.08% to 3.19%|
|Friday||0.54%||1.76%||-1.22% to 2.29%|
|Saturday||0.57%||2.28%||-1.71% to 2.86%|