Seasonality
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Seasonality
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May is the seasonally strongest month over 5Y.
May averages +25.7% with a 43% win rate across 5 years of history.
Feb shows persistent seasonal weakness.
Feb averages -3.0% 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 +40.9% average return historically.
January Effect: Q1 historically opens the year positively.
Q1 (Jan–Mar) averages +3.0% 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 +62.7% 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 | 20.88% | 29.09% | -15.49% | 14.17% | -3.65% | 7.58% | -2.82% | 28.99% | 7.30% | -17.28% | ||
| 2025 | 18.42% | 4.44% | 0.00% | 10.64% | -7.69% | 2.08% | 37.96% | 107.10% | 0.00% | 14.29% | 16.25% | -2.15% |
| 2024 | -9.59% | -10.61% | 15.25% | -2.94% | -6.06% | -25.81% | -17.39% | -5.26% | 19.44% | 0.00% | 2.33% | -13.64% |
| 2023 | 18.99% | -12.77% | -6.10% | 3.90% | -2.50% | -6.41% | -9.59% | -4.55% | -1.59% | -9.68% | 5.36% | 23.73% |
| 2022 | 1.43% | 11.27% | 24.05% | -12.24% | 16.28% | -14.00% | 13.95% | -17.35% | -1.23% | -8.75% | 10.96% | -2.47% |
| 2021 | -25.45% | -4.88% | 5.13% | 7.32% | 43.18% | -9.52% | 3.51% | 0.00% | -8.47% | 3.70% | 14.29% | 9.38% |
| 2020 | -37.50% | -10.00% | 11.11% | 140.00% | 120.83% | 3.77% | 36.36% | -16.00% | -14.29% | -16.67% | 22.22% | |
| Avg | 4.11% | -2.99% | 1.83% | 4.56% | 25.65% | 10.68% | 4.20% | 20.76% | -0.08% | -2.45% | 5.42% | 6.18% |
BYN.V - Average growth of $100 invested at start of year
5 years of data
BYN.V - Average returns for the respective month in the last 5 years
BYN.V Distribution of Daily Returns from 2021 to 2026
BYN.V Distribution of Daily % Changes