Seasonality
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Monthly Returns Heatmap
| Year | Jan | Feb | Mar | Apr | May | Jun | Jul | Aug | Sep | Oct | Nov | Dec |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 2026 | 14.18% | 6.89% | -9.05% | 8.42% | -0.39% | 5.30% | -1.30% | 3.67% | ||||
| 2025 | 5.64% | -4.51% | -3.72% | -6.02% | 11.83% | 1.49% | -0.07% | 5.08% | 1.20% | 2.20% | 2.46% | 1.52% |
| 2024 | -4.71% | 5.80% | 3.35% | -5.96% | -8.86% | -1.18% | 7.93% | 2.80% | 2.37% | -5.61% | 5.28% | -19.83% |
| 2023 | 2.35% | -9.48% | 1.19% | -2.68% | 1.05% | 13.88% | 1.38% | -2.68% | -8.59% | -4.74% | 10.70% | 12.55% |
| 2022 | -8.90% | -2.38% | 0.26% | -5.02% | 1.27% | -7.09% | 14.10% | -1.39% | -6.56% | 6.00% | 5.11% | 0.80% |
| 2021 | -10.93% | 7.72% | 3.26% | 6.41% | 5.07% | -0.98% | 3.02% | 5.75% | -0.19% | 6.74% | -0.01% | 0.63% |
| 2020 | -13.76% | -7.04% | 19.13% | 17.31% | 0.72% | 2.07% | -3.49% | 2.86% | 0.84% | 5.37% | -1.20% | |
| Avg | -0.40% | -1.39% | -1.68% | 2.04% | 3.90% | 1.73% | 3.88% | 1.01% | -1.49% | 0.91% | 4.82% | -0.92% |
Nov is the seasonally strongest month over 5Y.
Nov averages +4.8% with a 83% win rate across 5 years of history.
Mar shows persistent seasonal weakness.
Mar averages -1.7% with only a 57% win rate across 5 years of history.
Q2 (Apr–May–Jun) is the seasonally strongest quarter.
The three months of Q2 combine for a +7.7% average return historically.
Q1 historically shows a slow seasonal start.
Q1 (Jan–Mar) averages -3.5% historically, with January alone posting a 50% win rate.
2026 YTD is tracking above the 5Y seasonal average.
At day 155 of the year, the current YTD return is +30.5% vs the historical average for the same point.
NDSN - Average growth of $100 invested at start of year
5 years of data
NDSN - Average returns for the respective month in the last 5 years
NDSN Distribution of Daily Returns from 2021 to 2026
NDSN Distribution of Daily % Changes