Seasonality
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WBD - Average growth of $100 invested at start of year
5 years of data
Monthly Returns Heatmap
| Year | Jan | Feb | Mar | Apr | May | Jun | Jul | Aug | Sep | Oct | Nov | Dec |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 2026 | -4.44% | 2.29% | -2.52% | -1.49% | -0.15% | -1.30% | -1.35% | 6.43% | ||||
| 2025 | -1.23% | 9.77% | -6.37% | -19.20% | 14.99% | 14.94% | 14.92% | -11.62% | 67.78% | 14.95% | 6.90% | 20.08% |
| 2024 | -11.95% | -12.28% | -0.68% | -15.69% | 11.96% | -9.71% | 16.26% | -9.36% | 5.23% | -1.45% | 28.91% | 0.86% |
| 2023 | 56.33% | 5.40% | -3.33% | -9.87% | -17.12% | 11.17% | 4.23% | 0.54% | -17.35% | -8.47% | 5.13% | 8.90% |
| 2022 | 18.56% | 0.50% | -11.16% | -27.17% | 1.65% | -27.26% | 11.77% | -11.73% | -13.14% | 13.04% | -12.31% | -16.84% |
| 2021 | 37.65% | 28.03% | -18.05% | -13.35% | -14.74% | -4.45% | -5.44% | -0.59% | -12.00% | -7.64% | -0.73% | 1.16% |
| 2020 | -12.17% | -24.36% | 15.33% | -2.99% | -2.99% | 0.00% | 4.60% | -1.36% | -7.03% | 32.95% | 11.82% | |
| Avg | 15.82% | 3.08% | -9.49% | -10.21% | -0.91% | -2.80% | 5.77% | -4.69% | 4.86% | 0.57% | 10.14% | 4.33% |
Jan is the seasonally strongest month over 5Y.
Jan averages +15.8% with a 50% win rate across 5 years of history.
Apr shows persistent seasonal weakness.
Apr averages -10.2% with only a 14% win rate across 5 years of history.
Q4 (Oct–Nov–Dec) is the seasonally strongest quarter.
The three months of Q4 combine for a +15.0% average return historically.
January Effect: Q1 historically opens the year positively.
Q1 (Jan–Mar) averages +9.4% 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 +6.6% vs the historical average for the same point.
WBD - Average returns for the respective month in the last 5 years
WBD Distribution of Daily Returns from 2021 to 2026
WBD Distribution of Daily % Changes