Alexandria Real Estate Equities (ARE) seasonality heatmap
Returns across monthly, quarterly, and yearly periods. Cell color encodes signed magnitude; the scale auto-fits each table.
| Year | Jan | Feb | Mar | Apr | May | Jun | Jul | Aug | Sep | Oct | Nov | Dec |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 2026 | +11.6% | -1.1% | -14.1% | -12.7% | +22.6% | +7.0% | — | — | — | — | — | — |
| 2025 | -0.2% | +5.1% | -8.3% | -21.5% | -3.4% | +5.4% | +5.2% | +7.9% | +2.7% | -30.1% | -7.8% | -7.5% |
| 2024 | -4.6% | +3.2% | +4.4% | -10.1% | +2.7% | -0.6% | +0.3% | +1.9% | +0.4% | -6.1% | -1.2% | -10.3% |
| 2023 | +10.3% | -6.8% | -15.3% | -1.1% | -8.6% | +1.1% | +10.7% | -7.4% | -12.9% | -7.0% | +17.5% | +17.0% |
| 2022 | -12.6% | -2.8% | +6.9% | -9.5% | -8.9% | -11.9% | +14.3% | -7.5% | -7.8% | +3.7% | +7.1% | -5.6% |
| 2021 | -6.2% | -4.4% | +3.6% | +10.2% | -1.6% | +2.7% | +10.7% | +2.5% | -6.9% | +6.8% | -2.0% | +12.0% |
| 2020 | +1.0% | -6.9% | -9.1% | +14.6% | -2.1% | +6.2% | +9.4% | -5.2% | -4.4% | -5.3% | +8.1% | +9.5% |
| 2019 | +14.3% | +3.2% | +5.6% | -0.1% | +2.8% | -2.9% | +3.7% | +2.4% | +3.5% | +3.1% | +2.4% | +0.1% |
| 2018 | -0.7% | -6.5% | +3.7% | -0.3% | +0.3% | +1.8% | +1.0% | +0.7% | -1.2% | -2.8% | +1.9% | -6.6% |
| 2017 | -0.3% | +7.7% | -6.7% | +1.8% | +3.7% | +4.0% | +0.6% | +0.0% | -1.2% | +4.2% | +2.5% | +3.5% |
| 2016 | -12.4% | -0.0% | +15.8% | +2.3% | +4.3% | +7.7% | +8.5% | -2.0% | -0.5% | -0.9% | +1.6% | +2.2% |
| 2015 | +9.9% | -1.7% | +3.0% | -5.8% | +0.4% | -4.9% | +6.0% | -7.3% | -0.7% | +6.0% | +2.6% | -1.1% |
| 2014 | +10.2% | +3.3% | +1.1% | +1.7% | +3.1% | +3.0% | +1.2% | +0.6% | -5.8% | +12.6% | +3.5% | +4.1% |
| 2013 | +4.6% | -1.9% | +0.6% | +2.5% | -5.9% | -3.1% | +4.2% | -10.0% | +4.6% | +3.0% | -3.8% | +1.7% |
| 2012 | +5.0% | -1.0% | +2.7% | +2.4% | -8.6% | +7.0% | +1.0% | +0.6% | +0.2% | -4.2% | -3.6% | +2.9% |
| 2011 | +5.2% | +4.1% | -2.2% | +5.4% | +0.5% | -5.6% | +5.9% | -11.2% | -15.0% | +7.6% | -0.8% | +6.0% |
| 2010 | -7.1% | +3.2% | +10.3% | +4.7% | -7.4% | -2.9% | +11.3% | -1.7% | +1.4% | +5.0% | -9.1% | +10.4% |
| 2009 | -1.7% | -32.6% | -6.9% | +0.2% | -1.6% | +0.7% | +6.5% | +46.2% | -1.8% | -0.3% | +4.1% | +14.7% |
| 2008 | -3.5% | -6.4% | +1.9% | +13.3% | -0.7% | -5.9% | +6.1% | +4.3% | +5.2% | -38.2% | -36.3% | +38.3% |
| 2007 | +7.9% | -2.9% | -3.9% | +5.5% | -0.6% | -7.2% | -11.0% | +8.4% | +4.0% | +7.1% | -4.7% | +4.3% |
| 2006 | +9.6% | -0.3% | +9.1% | -5.0% | -7.3% | +6.5% | +6.5% | +3.8% | -3.6% | +6.3% | +3.4% | -1.9% |
| 2005 | -10.6% | +0.6% | -2.9% | +6.9% | +0.7% | +7.0% | +9.5% | +1.9% | +1.8% | -2.2% | +3.9% | -3.3% |
| 2004 | +6.8% | -0.8% | +3.6% | -9.8% | -3.3% | +4.5% | +5.8% | +7.8% | +2.5% | +0.5% | +8.7% | +4.6% |
| 2003 | -2.9% | +0.4% | +2.5% | +0.6% | +4.7% | +1.6% | +2.9% | +2.2% | +3.9% | +6.2% | +10.0% | +4.2% |
| 2002 | -0.5% | +2.3% | +7.8% | +3.7% | +1.7% | +6.1% | -11.6% | +1.8% | -3.3% | +0.1% | -2.9% | +5.7% |
| 2001 | -2.3% | +5.7% | -0.6% | -0.5% | -1.9% | +9.3% | -0.1% | +1.8% | -1.4% | +3.1% | +3.2% | -0.9% |
| 2000 | -7.2% | +3.6% | -0.5% | +6.7% | +5.6% | +2.7% | +4.4% | -2.2% | -2.0% | +0.1% | +7.7% | +1.9% |
| 1999 | -7.7% | +2.4% | -8.2% | +6.6% | +12.2% | +0.2% | -4.3% | -2.0% | +0.5% | -0.9% | +1.9% | +10.0% |
| 1998 | +7.1% | +2.2% | -7.2% | +5.3% | -3.8% | -5.5% | -1.4% | -0.3% | -6.6% | -0.2% | +15.8% | +1.4% |
| 1997 | — | — | — | — | — | -0.3% | +13.3% | +6.0% | +9.2% | -2.6% | +13.4% | +1.4% |
| Avg | +0.8% | -1.0% | -0.1% | +0.6% | -0.0% | +0.9% | +4.2% | +1.5% | -1.2% | -0.9% | +1.6% | +4.1% |
| Median | -0.3% | -0.0% | +1.1% | +1.8% | -0.6% | +1.6% | +5.2% | +0.7% | -0.7% | +0.1% | +2.5% | +2.9% |
| Last 5Y Avg | +0.9% | -0.5% | -5.3% | -11.0% | +0.9% | -0.7% | +8.2% | -0.5% | -4.9% | -6.5% | +2.7% | +1.1% |
| Std Dev (σ) | 7.6% | 7.2% | 7.3% | 7.9% | 6.5% | 5.3% | 6.2% | 10.0% | 5.3% | 10.4% | 9.7% | 9.2% |
| Consistency (μ/σ) | 0.10 | -0.14 | -0.02 | 0.08 | -0.00 | 0.18 | 0.67 | 0.15 | -0.23 | -0.09 | 0.17 | 0.45 |
| Win Rate (%) | 45% | 48% | 55% | 62% | 48% | 62% | 83% | 62% | 45% | 55% | 66% | 72% |
| Winning / Losing Months | ▲13▼16 | ▲14▼15 | ▲16▼13 | ▲18▼11 | ▲14▼15 | ▲18▼11 | ▲24▼5 | ▲18▼11 | ▲13▼16 | ▲16▼13 | ▲19▼10 | ▲21▼8 |
| Longest Win / Loss Streak | ▲5▼5 | ▲6▼4 | ▲5▼4 | ▲8▼5 | ▲6▼5 | ▲8▼2 | ▲18▼2 | ▲9▼3 | ▲3▼5 | ▲5▼3 | ▲7▼4 | ▲8▼2 |
| Best | +14.3%in January 2019 | +7.7%in February 2017 | +15.8%in March 2016 | +14.6%in April 2020 | +22.6%in May 2026 | +9.3%in June 2001 | +14.3%in July 2022 | +46.2%in August 2009 | +9.2%in September 1997 | +12.6%in October 2014 | +17.5%in November 2023 | +38.3%in December 2008 |
| Worst | -12.6%in January 2022 | -32.6%in February 2009 | -15.3%in March 2023 | -21.5%in April 2025 | -8.9%in May 2022 | -11.9%in June 2022 | -11.6%in July 2002 | -11.2%in August 2011 | -15.0%in September 2011 | -38.2%in October 2008 | -36.3%in November 2008 | -10.3%in December 2024 |
−38.2%+46.2%
2026
Jan+11.6%
Feb-1.1%
Mar-14.1%
Apr-12.7%
May+22.6%
Jun+7.0%
Jul—
Aug—
Sep—
Oct—
Nov—
Dec—
2025
Jan-0.2%
Feb+5.1%
Mar-8.3%
Apr-21.5%
May-3.4%
Jun+5.4%
Jul+5.2%
Aug+7.9%
Sep+2.7%
Oct-30.1%
Nov-7.8%
Dec-7.5%
2024
Jan-4.6%
Feb+3.2%
Mar+4.4%
Apr-10.1%
May+2.7%
Jun-0.6%
Jul+0.3%
Aug+1.9%
Sep+0.4%
Oct-6.1%
Nov-1.2%
Dec-10.3%
2023
Jan+10.3%
Feb-6.8%
Mar-15.3%
Apr-1.1%
May-8.6%
Jun+1.1%
Jul+10.7%
Aug-7.4%
Sep-12.9%
Oct-7.0%
Nov+17.5%
Dec+17.0%
2022
Jan-12.6%
Feb-2.8%
Mar+6.9%
Apr-9.5%
May-8.9%
Jun-11.9%
Jul+14.3%
Aug-7.5%
Sep-7.8%
Oct+3.7%
Nov+7.1%
Dec-5.6%
2021
Jan-6.2%
Feb-4.4%
Mar+3.6%
Apr+10.2%
May-1.6%
Jun+2.7%
Jul+10.7%
Aug+2.5%
Sep-6.9%
Oct+6.8%
Nov-2.0%
Dec+12.0%
2020
Jan+1.0%
Feb-6.9%
Mar-9.1%
Apr+14.6%
May-2.1%
Jun+6.2%
Jul+9.4%
Aug-5.2%
Sep-4.4%
Oct-5.3%
Nov+8.1%
Dec+9.5%
2019
Jan+14.3%
Feb+3.2%
Mar+5.6%
Apr-0.1%
May+2.8%
Jun-2.9%
Jul+3.7%
Aug+2.4%
Sep+3.5%
Oct+3.1%
Nov+2.4%
Dec+0.1%
2018
Jan-0.7%
Feb-6.5%
Mar+3.7%
Apr-0.3%
May+0.3%
Jun+1.8%
Jul+1.0%
Aug+0.7%
Sep-1.2%
Oct-2.8%
Nov+1.9%
Dec-6.6%
2017
Jan-0.3%
Feb+7.7%
Mar-6.7%
Apr+1.8%
May+3.7%
Jun+4.0%
Jul+0.6%
Aug+0.0%
Sep-1.2%
Oct+4.2%
Nov+2.5%
Dec+3.5%
2016
Jan-12.4%
Feb-0.0%
Mar+15.8%
Apr+2.3%
May+4.3%
Jun+7.7%
Jul+8.5%
Aug-2.0%
Sep-0.5%
Oct-0.9%
Nov+1.6%
Dec+2.2%
2015
Jan+9.9%
Feb-1.7%
Mar+3.0%
Apr-5.8%
May+0.4%
Jun-4.9%
Jul+6.0%
Aug-7.3%
Sep-0.7%
Oct+6.0%
Nov+2.6%
Dec-1.1%
2014
Jan+10.2%
Feb+3.3%
Mar+1.1%
Apr+1.7%
May+3.1%
Jun+3.0%
Jul+1.2%
Aug+0.6%
Sep-5.8%
Oct+12.6%
Nov+3.5%
Dec+4.1%
2013
Jan+4.6%
Feb-1.9%
Mar+0.6%
Apr+2.5%
May-5.9%
Jun-3.1%
Jul+4.2%
Aug-10.0%
Sep+4.6%
Oct+3.0%
Nov-3.8%
Dec+1.7%
2012
Jan+5.0%
Feb-1.0%
Mar+2.7%
Apr+2.4%
May-8.6%
Jun+7.0%
Jul+1.0%
Aug+0.6%
Sep+0.2%
Oct-4.2%
Nov-3.6%
Dec+2.9%
2011
Jan+5.2%
Feb+4.1%
Mar-2.2%
Apr+5.4%
May+0.5%
Jun-5.6%
Jul+5.9%
Aug-11.2%
Sep-15.0%
Oct+7.6%
Nov-0.8%
Dec+6.0%
2010
Jan-7.1%
Feb+3.2%
Mar+10.3%
Apr+4.7%
May-7.4%
Jun-2.9%
Jul+11.3%
Aug-1.7%
Sep+1.4%
Oct+5.0%
Nov-9.1%
Dec+10.4%
2009
Jan-1.7%
Feb-32.6%
Mar-6.9%
Apr+0.2%
May-1.6%
Jun+0.7%
Jul+6.5%
Aug+46.2%
Sep-1.8%
Oct-0.3%
Nov+4.1%
Dec+14.7%
2008
Jan-3.5%
Feb-6.4%
Mar+1.9%
Apr+13.3%
May-0.7%
Jun-5.9%
Jul+6.1%
Aug+4.3%
Sep+5.2%
Oct-38.2%
Nov-36.3%
Dec+38.3%
2007
Jan+7.9%
Feb-2.9%
Mar-3.9%
Apr+5.5%
May-0.6%
Jun-7.2%
Jul-11.0%
Aug+8.4%
Sep+4.0%
Oct+7.1%
Nov-4.7%
Dec+4.3%
2006
Jan+9.6%
Feb-0.3%
Mar+9.1%
Apr-5.0%
May-7.3%
Jun+6.5%
Jul+6.5%
Aug+3.8%
Sep-3.6%
Oct+6.3%
Nov+3.4%
Dec-1.9%
2005
Jan-10.6%
Feb+0.6%
Mar-2.9%
Apr+6.9%
May+0.7%
Jun+7.0%
Jul+9.5%
Aug+1.9%
Sep+1.8%
Oct-2.2%
Nov+3.9%
Dec-3.3%
2004
Jan+6.8%
Feb-0.8%
Mar+3.6%
Apr-9.8%
May-3.3%
Jun+4.5%
Jul+5.8%
Aug+7.8%
Sep+2.5%
Oct+0.5%
Nov+8.7%
Dec+4.6%
2003
Jan-2.9%
Feb+0.4%
Mar+2.5%
Apr+0.6%
May+4.7%
Jun+1.6%
Jul+2.9%
Aug+2.2%
Sep+3.9%
Oct+6.2%
Nov+10.0%
Dec+4.2%
2002
Jan-0.5%
Feb+2.3%
Mar+7.8%
Apr+3.7%
May+1.7%
Jun+6.1%
Jul-11.6%
Aug+1.8%
Sep-3.3%
Oct+0.1%
Nov-2.9%
Dec+5.7%
2001
Jan-2.3%
Feb+5.7%
Mar-0.6%
Apr-0.5%
May-1.9%
Jun+9.3%
Jul-0.1%
Aug+1.8%
Sep-1.4%
Oct+3.1%
Nov+3.2%
Dec-0.9%
2000
Jan-7.2%
Feb+3.6%
Mar-0.5%
Apr+6.7%
May+5.6%
Jun+2.7%
Jul+4.4%
Aug-2.2%
Sep-2.0%
Oct+0.1%
Nov+7.7%
Dec+1.9%
1999
Jan-7.7%
Feb+2.4%
Mar-8.2%
Apr+6.6%
May+12.2%
Jun+0.2%
Jul-4.3%
Aug-2.0%
Sep+0.5%
Oct-0.9%
Nov+1.9%
Dec+10.0%
1998
Jan+7.1%
Feb+2.2%
Mar-7.2%
Apr+5.3%
May-3.8%
Jun-5.5%
Jul-1.4%
Aug-0.3%
Sep-6.6%
Oct-0.2%
Nov+15.8%
Dec+1.4%
1997
Jan—
Feb—
Mar—
Apr—
May—
Jun-0.3%
Jul+13.3%
Aug+6.0%
Sep+9.2%
Oct-2.6%
Nov+13.4%
Dec+1.4%
Avg
Jan+0.8%
Feb-1.0%
Mar-0.1%
Apr+0.6%
May-0.0%
Jun+0.9%
Jul+4.2%
Aug+1.5%
Sep-1.2%
Oct-0.9%
Nov+1.6%
Dec+4.1%
Median
Jan-0.3%
Feb-0.0%
Mar+1.1%
Apr+1.8%
May-0.6%
Jun+1.6%
Jul+5.2%
Aug+0.7%
Sep-0.7%
Oct+0.1%
Nov+2.5%
Dec+2.9%
Last 5Y Avg
Jan+0.9%
Feb-0.5%
Mar-5.3%
Apr-11.0%
May+0.9%
Jun-0.7%
Jul+8.2%
Aug-0.5%
Sep-4.9%
Oct-6.5%
Nov+2.7%
Dec+1.1%
Std Dev (σ)
Jan7.6%
Feb7.2%
Mar7.3%
Apr7.9%
May6.5%
Jun5.3%
Jul6.2%
Aug10.0%
Sep5.3%
Oct10.4%
Nov9.7%
Dec9.2%
Consistency (μ/σ)
Jan0.10
Feb-0.14
Mar-0.02
Apr0.08
May-0.00
Jun0.18
Jul0.67
Aug0.15
Sep-0.23
Oct-0.09
Nov0.17
Dec0.45
Win Rate (%)
Jan45%
Feb48%
Mar55%
Apr62%
May48%
Jun62%
Jul83%
Aug62%
Sep45%
Oct55%
Nov66%
Dec72%
Winning / Losing Months
Jan▲13▼16
Feb▲14▼15
Mar▲16▼13
Apr▲18▼11
May▲14▼15
Jun▲18▼11
Jul▲24▼5
Aug▲18▼11
Sep▲13▼16
Oct▲16▼13
Nov▲19▼10
Dec▲21▼8
Longest Win / Loss Streak
Jan▲5▼5
Feb▲6▼4
Mar▲5▼4
Apr▲8▼5
May▲6▼5
Jun▲8▼2
Jul▲18▼2
Aug▲9▼3
Sep▲3▼5
Oct▲5▼3
Nov▲7▼4
Dec▲8▼2
Best
Jan+14.3%2019
Feb+7.7%2017
Mar+15.8%2016
Apr+14.6%2020
May+22.6%2026
Jun+9.3%2001
Jul+14.3%2022
Aug+46.2%2009
Sep+9.2%1997
Oct+12.6%2014
Nov+17.5%2023
Dec+38.3%2008
Worst
Jan-12.6%2022
Feb-32.6%2009
Mar-15.3%2023
Apr-21.5%2025
May-8.9%2022
Jun-11.9%2022
Jul-11.6%2002
Aug-11.2%2011
Sep-15.0%2011
Oct-38.2%2008
Nov-36.3%2008
Dec-10.3%2024
−38.2%+46.2%
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