Seasonality
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Seasonality
Sign in to unlock 10Y & 20Y views
Nov is the seasonally strongest month over 5Y.
Nov averages +4.4% with a 83% win rate across 5 years of history.
Mar shows persistent seasonal weakness.
Mar averages -1.5% with only a 43% win rate across 5 years of history.
Q4 (Oct–Nov–Dec) is the seasonally strongest quarter.
The three months of Q4 combine for a +5.6% average return historically.
January Effect: Q1 historically opens the year positively.
Q1 (Jan–Mar) averages +1.3% 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 +9.2% vs the historical average for the same point.
ZWC.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 | 1.33% | 7.08% | -1.96% | 2.63% | 1.18% | 1.08% | 3.06% | 0.08% | -2.30% | 2.81% | ||
| 2025 | 2.58% | 0.44% | -0.39% | -0.27% | 3.64% | 1.20% | 1.29% | 3.32% | 3.03% | 0.49% | 4.36% | 1.15% |
| 2024 | -0.30% | 1.60% | 2.93% | -2.69% | 3.26% | -2.65% | 5.10% | 1.97% | 2.31% | 0.11% | 3.44% | -3.29% |
| 2023 | 6.84% | -2.09% | -1.29% | 3.41% | -6.41% | 3.21% | 1.12% | -2.10% | -2.53% | -2.49% | 6.88% | 3.69% |
| 2022 | 2.12% | 1.25% | 3.66% | -3.25% | 0.47% | -7.75% | 3.02% | -1.67% | -4.52% | 4.83% | 3.86% | -4.68% |
| 2021 | 0.35% | 3.21% | 5.37% | 2.36% | 4.09% | 0.22% | 0.61% | 1.87% | -1.04% | 3.19% | -1.57% | 4.44% |
| 2020 | -6.84% | -18.91% | 5.54% | 1.83% | -0.13% | 2.29% | 3.78% | -1.36% | -1.26% | 9.66% | 0.55% | |
| Avg | 2.15% | 0.67% | -1.51% | 1.10% | 1.15% | -0.69% | 2.36% | 1.03% | -0.92% | 0.81% | 4.44% | 0.31% |
ZWC.TO - Average growth of $100 invested at start of year
5 years of data
ZWC.TO Distribution of Daily Returns from 2021 to 2026
ZWC.TO Distribution of Daily % Changes