Seasonality
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Seasonality
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Monthly Returns Heatmap
| Year | Jan | Feb | Mar | Apr | May | Jun | Jul | Aug | Sep | Oct | Nov | Dec |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 2026 | 3.18% | 8.47% | -1.16% | 3.18% | 2.93% | 1.72% | 3.09% | 0.56% | -2.00% | 2.31% | ||
| 2025 | 3.14% | 0.71% | 0.26% | -0.31% | 3.99% | 1.54% | 1.90% | 4.16% | 4.05% | 0.27% | 4.48% | 1.56% |
| 2024 | -0.15% | 1.44% | 3.56% | -2.51% | 3.80% | -2.69% | 6.11% | 2.34% | 3.28% | 0.68% | 3.94% | -3.63% |
| 2023 | 6.97% | -2.23% | -0.96% | 3.81% | -6.48% | 2.62% | 1.20% | -2.12% | -3.29% | -2.75% | 7.27% | 4.46% |
| 2022 | 2.72% | 1.63% | 4.41% | -3.78% | 0.48% | -7.73% | 3.61% | -1.58% | -4.59% | 4.78% | 4.31% | -4.90% |
| 2021 | 1.19% | 2.65% | 6.05% | 2.00% | 3.81% | 1.31% | 0.93% | 2.09% | -1.17% | 4.19% | -1.92% | 4.70% |
| 2020 | -6.60% | -21.94% | 6.51% | 2.07% | 0.82% | 2.53% | 4.14% | -0.44% | -0.86% | 12.60% | 0.03% | |
| Avg | 2.84% | 0.87% | -1.40% | 1.27% | 1.52% | -0.34% | 2.77% | 1.37% | -0.60% | 1.05% | 5.11% | 0.37% |
Nov is the seasonally strongest month over 5Y.
Nov averages +5.1% with a 83% win rate across 5 years of history.
Mar shows persistent seasonal weakness.
Mar averages -1.4% with only a 57% win rate across 5 years of history.
Q4 (Oct–Nov–Dec) is the seasonally strongest quarter.
The three months of Q4 combine for a +6.5% average return historically.
January Effect: Q1 historically opens the year positively.
Q1 (Jan–Mar) averages +2.3% historically, with January alone posting a 83% win rate.
2026 YTD is tracking above the 5Y seasonal average.
At day 204 of the year, the current YTD return is +16.1% vs the historical average for the same point.
ZDV.TO - Average returns for the respective month in the last 5 years
ZDV.TO - Average growth of $100 invested at start of year
5 years of data
ZDV.TO Distribution of Daily Returns from 2021 to 2026
ZDV.TO Distribution of Daily % Changes