Seasonality
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Seasonality
Sign in to unlock 10Y & 20Y views
Nov is the seasonally strongest month over 5Y.
Nov averages +3.2% with a 67% win rate across 5 years of history.
Apr shows persistent seasonal weakness.
Apr averages -2.5% 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 +4.2% average return historically.
January Effect: Q1 historically opens the year positively.
Q1 (Jan–Mar) averages +1.8% historically, with January alone posting a 33% win rate.
2026 YTD is tracking above the 5Y seasonal average.
At day 204 of the year, the current YTD return is +31.3% vs the historical average for the same point.
Monthly Returns Heatmap
| Year | Jan | Feb | Mar | Apr | May | Jun | Jul | Aug | Sep | Oct | Nov | Dec |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 2026 | -3.51% | 16.86% | -5.87% | 6.56% | 7.00% | 4.24% | 5.32% | -2.92% | -1.58% | 1.83% | ||
| 2025 | 4.01% | -3.39% | -3.94% | -4.66% | 8.05% | -1.03% | -8.82% | 2.76% | -0.63% | 2.48% | -0.49% | 2.10% |
| 2024 | 0.14% | 5.51% | 1.85% | -6.32% | 3.84% | -6.37% | -1.13% | -0.65% | 0.27% | -5.06% | 3.98% | -6.11% |
| 2023 | -1.53% | -1.88% | 3.11% | 1.27% | -5.23% | 5.34% | -0.36% | -4.78% | -2.84% | -0.24% | 7.31% | 6.30% |
| 2022 | -0.29% | 1.49% | 7.15% | -9.91% | -4.81% | 1.18% | 12.04% | -3.72% | -4.03% | 8.19% | 7.00% | -6.46% |
| 2021 | -7.45% | 7.25% | 5.44% | -9.26% | 1.64% | -2.31% | 3.65% | 9.47% | -0.71% | 12.06% | -1.59% | -3.65% |
| 2020 | -7.99% | -2.82% | 4.62% | 3.03% | 1.75% | 8.93% | 4.75% | 3.91% | -6.67% | 2.76% | 3.32% | |
| Avg | -1.44% | 2.55% | 0.70% | -2.53% | 1.93% | 0.40% | 2.80% | 0.70% | -0.80% | 1.79% | 3.16% | -0.75% |
CNR.TO - Average growth of $100 invested at start of year
5 years of data
CNR.TO - Average returns for the respective month in the last 5 years
CNR.TO Distribution of Daily Returns from 2021 to 2026
CNR.TO Distribution of Daily % Changes