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Table 5 Distribution of weekly returns for cryptocurrencies in high and low MAX portfolios

From: Lottery-like preferences and the MAX effect in the cryptocurrency market

 

Low MAX

High MAX

Mean

0.005

0.038

Median

− 0.001

− 0.003

Std dev

0.155

0.251

Skewness

2.570

2.919

Percentiles

  

1%

− 0.352

− 0.371

5%

− 0.213

− 0.262

10%

− 0.154

− 0.199

25%

− 0.061

− 0.126

50%

− 0.001

− 0.003

75%

0.050

0.155

90%

0.159

0.337

95%

0.256

0.430

99%

0.505

0.722

  1. Decile portfolios are formed every week from January 2014 to September 2020 by sorting cryptocurrencies according to maximum daily return (MAX) within the previous month. The table presents descriptive statistics for the approximately 55.000 weekly returns on the coins in decile 1 (low MAX) and decile 10 (high MAX) in the subsequent week