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 | 34.00% | -4.17% | -6.26% | 10.38% | -7.23% | -6.68% | -16.31% | 13.09% | -9.82% | -10.74% | ||
| 2025 | -2.76% | -11.37% | -7.00% | 5.05% | 29.10% | 25.88% | 2.87% | 2.12% | 9.94% | 22.72% | -13.53% | 1.59% |
| 2024 | 12.36% | -14.32% | 6.62% | 7.11% | 20.41% | -11.00% | -6.64% | -12.49% | 17.49% | 12.61% | 15.47% | -11.85% |
| 2023 | 21.31% | 0.19% | -5.12% | 5.26% | 1.45% | 9.79% | 11.74% | 7.85% | 7.78% | 5.27% | 10.05% | -8.31% |
| 2022 | -10.41% | 26.14% | 16.81% | -8.90% | -6.57% | -12.68% | 21.88% | 16.07% | -4.23% | -11.87% | 1.82% | -6.35% |
| 2021 | -6.69% | 25.52% | 4.36% | -0.86% | 14.96% | 0.04% | -6.61% | 5.05% | 18.06% | 9.27% | -0.67% | -7.42% |
| 2020 | 8.81% | -7.58% | 28.98% | 8.09% | -6.95% | -2.16% | 10.94% | -10.99% | -5.87% | 3.23% | 31.25% | |
| Avg | 7.97% | 4.40% | 0.26% | 6.72% | 8.60% | -0.23% | 0.68% | 6.09% | 4.03% | 5.36% | 2.73% | -0.18% |
May is the seasonally strongest month over 5Y.
May averages +8.6% with a 71% win rate across 5 years of history.
Jun shows persistent seasonal weakness.
Jun averages -0.2% with only a 43% win rate across 5 years of history.
Q2 (Apr–May–Jun) is the seasonally strongest quarter.
The three months of Q2 combine for a +15.1% average return historically.
January Effect: Q1 historically opens the year positively.
Q1 (Jan–Mar) averages +12.6% historically, with January alone posting a 50% win rate.
2026 YTD is tracking below the 5Y seasonal average.
At day 204 of the year, the current YTD return is -42.5% vs the historical average for the same point.
CCO.TO - Average returns for the respective month in the last 5 years
CCO.TO - Average growth of $100 invested at start of year
5 years of data
CCO.TO Distribution of Daily Returns from 2021 to 2026
CCO.TO Distribution of Daily % Changes