Seasonality
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Seasonality
Sign in to unlock 10Y & 20Y views
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 -3.9% with only a 29% win rate across 5 years of history.
Q4 (Oct–Nov–Dec) is the seasonally strongest quarter.
The three months of Q4 combine for a +8.1% average return historically.
Q1 historically shows a slow seasonal start.
Q1 (Jan–Mar) averages -0.6% historically, with January alone posting a 67% win rate.
2026 YTD is tracking above the 5Y seasonal average.
At day 204 of the year, the current YTD return is +19.2% vs the historical average for the same point.
ZWB.TO - Average returns for the respective month in the last 5 years
Monthly Returns Heatmap
| Year | Jan | Feb | Mar | Apr | May | Jun | Jul | Aug | Sep | Oct | Nov | Dec |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 2026 | -0.52% | 5.71% | -3.51% | 10.19% | 3.51% | 10.15% | 0.69% | -2.99% | -0.31% | 1.41% | ||
| 2025 | 2.07% | -1.79% | -4.07% | 2.19% | 6.30% | 3.33% | 1.69% | 5.40% | 4.42% | 2.68% | 3.91% | 4.69% |
| 2024 | -1.29% | 1.66% | 4.53% | -3.43% | 2.51% | -3.12% | 5.61% | 3.31% | 4.35% | 0.56% | 4.71% | -0.99% |
| 2023 | 8.14% | -1.03% | -5.48% | 2.41% | -4.95% | 3.61% | 3.33% | -5.66% | -1.81% | -5.82% | 7.91% | 7.49% |
| 2022 | 4.75% | -0.40% | -1.84% | -6.49% | 3.10% | -10.01% | 3.01% | -3.36% | -1.19% | 3.66% | 4.56% | -6.05% |
| 2021 | 0.25% | 7.01% | 4.17% | 3.15% | 4.84% | -0.05% | 0.20% | 1.21% | -0.59% | 5.02% | -1.98% | 4.36% |
| 2020 | -3.32% | -21.16% | 2.69% | 1.92% | 3.69% | 1.44% | 9.32% | -4.12% | 0.09% | 11.78% | 1.99% | |
| Avg | 2.23% | 1.12% | -3.91% | 1.53% | 2.46% | 1.09% | 2.28% | 1.03% | 0.11% | 1.03% | 5.15% | 1.91% |
ZWB.TO - Average growth of $100 invested at start of year
5 years of data
ZWB.TO Distribution of Daily Returns from 2021 to 2026
ZWB.TO Distribution of Daily % Changes