Canadian National Railway (CNI) 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 | -2.7% | +16.6% | -7.8% | +9.1% | +5.7% | +1.1% | +4.3% | — | — | — | — | — |
| 2025 | +3.0% | -3.0% | -3.3% | -0.7% | +8.4% | -0.2% | -10.2% | +3.6% | -1.9% | +1.7% | -0.0% | +3.8% |
| 2024 | -1.3% | +4.6% | +2.1% | -7.8% | +4.8% | -6.8% | -2.0% | +1.8% | -0.0% | -7.9% | +3.5% | -8.6% |
| 2023 | +0.2% | -4.4% | +4.1% | +1.1% | -5.5% | +8.0% | +0.1% | -7.1% | -3.3% | -2.3% | +9.6% | +8.9% |
| 2022 | -0.9% | +1.9% | +8.7% | -12.3% | -3.3% | -0.7% | +12.6% | -6.1% | -8.7% | +9.7% | +8.4% | -7.0% |
| 2021 | -7.9% | +8.0% | +6.5% | -7.2% | +4.6% | -5.8% | +3.0% | +8.3% | -1.3% | +14.9% | -4.8% | -2.6% |
| 2020 | +3.3% | -9.1% | -8.1% | +6.7% | +3.8% | +3.4% | +10.4% | +6.9% | +2.2% | -6.6% | +7.6% | +3.0% |
| 2019 | +12.7% | +2.8% | +4.7% | +3.7% | -4.5% | +4.9% | +2.3% | -2.6% | -2.0% | -0.5% | +1.9% | -0.3% |
| 2018 | -2.9% | -3.4% | -5.0% | +5.7% | +8.0% | -1.6% | +9.0% | -0.3% | +1.4% | -4.8% | +0.4% | -13.3% |
| 2017 | +3.2% | +0.3% | +6.4% | -2.2% | +7.1% | +5.1% | -2.5% | +2.5% | +2.7% | -2.8% | -3.1% | +6.2% |
| 2016 | -4.3% | +8.3% | +8.4% | -1.4% | -3.7% | +0.1% | +7.0% | +1.7% | +2.1% | -3.9% | +6.3% | +1.3% |
| 2015 | -4.3% | +4.8% | -2.9% | -3.5% | -8.0% | -2.3% | +8.1% | -11.1% | +2.8% | +7.6% | -2.2% | -6.1% |
| 2014 | -6.2% | +5.7% | -0.2% | +4.2% | +3.4% | +7.7% | +2.8% | +7.5% | -0.9% | -0.5% | +0.7% | -2.7% |
| 2013 | +5.1% | +6.0% | -0.7% | -2.3% | +3.4% | -3.6% | +2.7% | -6.1% | +8.6% | +8.4% | +2.3% | +1.8% |
| 2012 | -4.0% | +2.1% | +3.7% | +7.4% | -3.9% | +3.5% | +4.4% | +3.9% | -3.2% | -2.1% | +4.0% | +1.7% |
| 2011 | +2.2% | +7.9% | +3.2% | +2.8% | +1.1% | +2.5% | -6.3% | -1.4% | -9.3% | +17.7% | -1.1% | +1.7% |
| 2010 | -8.2% | +5.5% | +15.6% | -1.4% | -4.0% | +0.5% | +9.7% | -3.1% | +5.3% | +1.2% | -1.3% | +4.3% |
| 2009 | -4.8% | -7.6% | +10.6% | +14.0% | +7.5% | -0.6% | +13.5% | -1.0% | +2.0% | -1.6% | +9.1% | +3.8% |
| 2008 | +7.6% | +4.6% | -8.1% | +8.4% | +7.7% | -14.4% | +9.8% | -0.4% | -8.6% | -9.5% | -18.6% | +5.1% |
| 2007 | +6.1% | -4.2% | +1.4% | +13.8% | +8.7% | -6.4% | +2.4% | +0.9% | +8.8% | -1.8% | -12.4% | -3.9% |
| 2006 | +13.0% | +4.4% | -3.6% | -0.8% | -0.5% | -1.8% | -7.7% | +5.9% | -1.6% | +13.6% | -1.1% | -8.3% |
| 2005 | -2.9% | +4.2% | +2.7% | -9.7% | +7.1% | -5.6% | +15.3% | -0.3% | +7.6% | +2.1% | +10.2% | +0.4% |
| 2004 | -5.3% | -1.2% | +0.2% | -4.0% | +4.6% | +10.9% | +3.3% | +1.2% | +6.9% | +11.4% | +7.3% | +6.0% |
| 2003 | -1.6% | +3.8% | +1.3% | +13.7% | +3.8% | -4.0% | +7.9% | +3.2% | -2.7% | +15.7% | -1.5% | +7.2% |
| 2002 | +1.2% | +2.7% | +0.0% | -4.1% | +3.7% | +4.7% | -7.4% | -9.1% | -14.1% | +14.4% | -3.7% | +1.8% |
| 2001 | +24.4% | +1.6% | +0.8% | +5.1% | +1.4% | +1.2% | +12.6% | -4.6% | -12.2% | +4.2% | +12.4% | +8.9% |
| 2000 | -5.9% | -5.5% | +14.1% | +5.1% | -4.5% | +9.4% | +8.9% | -7.3% | +0.0% | +7.5% | -0.3% | -4.9% |
| 1999 | +3.5% | -9.7% | +15.6% | +13.5% | +1.3% | +5.3% | +0.0% | -5.0% | -4.3% | +0.6% | -1.9% | -11.1% |
| 1998 | +5.6% | +24.5% | +3.3% | +1.6% | -8.8% | -9.9% | -0.8% | -14.6% | +0.0% | +12.6% | +7.2% | -3.3% |
| 1997 | +4.4% | -8.4% | -2.3% | +8.8% | +8.6% | +5.4% | +18.8% | -4.3% | +5.0% | +3.5% | -3.8% | -8.3% |
| 1996 | — | — | — | — | — | — | — | — | — | — | — | -7.1% |
| Avg | +1.1% | +2.1% | +2.4% | +2.2% | +1.9% | +0.3% | +4.4% | -1.3% | -0.6% | +3.5% | +1.2% | -0.7% |
| Median | -0.4% | +2.8% | +1.7% | +2.2% | +3.6% | +0.3% | +3.3% | -0.4% | -0.0% | +1.7% | +0.4% | +0.9% |
| Last 5Y Avg | -0.3% | +3.1% | +0.8% | -2.1% | +2.0% | +0.3% | +0.7% | +0.1% | -3.1% | +3.2% | +3.3% | -1.1% |
| Std Dev (σ) | 7.1% | 7.4% | 6.4% | 7.1% | 5.3% | 5.8% | 7.3% | 5.7% | 5.9% | 7.7% | 6.8% | 6.1% |
| Consistency (μ/σ) | 0.15 | 0.29 | 0.37 | 0.31 | 0.36 | 0.06 | 0.60 | -0.23 | -0.11 | 0.46 | 0.18 | -0.12 |
| Win Rate (%) | 50% | 67% | 63% | 57% | 67% | 53% | 72% | 41% | 41% | 59% | 52% | 53% |
| Winning / Losing Months | ▲15▼15 | ▲20▼10 | ▲19▼11 | ▲17▼13 | ▲20▼10 | ▲16▼14 | ▲21▼8 | ▲12▼17 | ▲12▼17 | ▲17▼12 | ▲15▼14 | ▲16▼14 |
| Longest Win / Loss Streak | ▲3▼3 | ▲8▼2 | ▲4▼3 | ▲5▼3 | ▲5▼2 | ▲4▼5 | ▲6▼2 | ▲2▼6 | ▲4▼6 | ▲10▼5 | ▲3▼3 | ▲6▼5 |
| Best | +24.4%in January 2001 | +24.5%in February 1998 | +15.6%in March 2010 | +14.0%in April 2009 | +8.7%in May 2007 | +10.9%in June 2004 | +18.8%in July 1997 | +8.3%in August 2021 | +8.8%in September 2007 | +17.7%in October 2011 | +12.4%in November 2001 | +8.9%in December 2001 |
| Worst | -8.2%in January 2010 | -9.7%in February 1999 | -8.1%in March 2020 | -12.3%in April 2022 | -8.8%in May 1998 | -14.4%in June 2008 | -10.2%in July 2025 | -14.6%in August 1998 | -14.1%in September 2002 | -9.5%in October 2008 | -18.6%in November 2008 | -13.3%in December 2018 |
−18.6%+24.5%
2026
Jan-2.7%
Feb+16.6%
Mar-7.8%
Apr+9.1%
May+5.7%
Jun+1.1%
Jul+4.3%
Aug—
Sep—
Oct—
Nov—
Dec—
2025
Jan+3.0%
Feb-3.0%
Mar-3.3%
Apr-0.7%
May+8.4%
Jun-0.2%
Jul-10.2%
Aug+3.6%
Sep-1.9%
Oct+1.7%
Nov-0.0%
Dec+3.8%
2024
Jan-1.3%
Feb+4.6%
Mar+2.1%
Apr-7.8%
May+4.8%
Jun-6.8%
Jul-2.0%
Aug+1.8%
Sep-0.0%
Oct-7.9%
Nov+3.5%
Dec-8.6%
2023
Jan+0.2%
Feb-4.4%
Mar+4.1%
Apr+1.1%
May-5.5%
Jun+8.0%
Jul+0.1%
Aug-7.1%
Sep-3.3%
Oct-2.3%
Nov+9.6%
Dec+8.9%
2022
Jan-0.9%
Feb+1.9%
Mar+8.7%
Apr-12.3%
May-3.3%
Jun-0.7%
Jul+12.6%
Aug-6.1%
Sep-8.7%
Oct+9.7%
Nov+8.4%
Dec-7.0%
2021
Jan-7.9%
Feb+8.0%
Mar+6.5%
Apr-7.2%
May+4.6%
Jun-5.8%
Jul+3.0%
Aug+8.3%
Sep-1.3%
Oct+14.9%
Nov-4.8%
Dec-2.6%
2020
Jan+3.3%
Feb-9.1%
Mar-8.1%
Apr+6.7%
May+3.8%
Jun+3.4%
Jul+10.4%
Aug+6.9%
Sep+2.2%
Oct-6.6%
Nov+7.6%
Dec+3.0%
2019
Jan+12.7%
Feb+2.8%
Mar+4.7%
Apr+3.7%
May-4.5%
Jun+4.9%
Jul+2.3%
Aug-2.6%
Sep-2.0%
Oct-0.5%
Nov+1.9%
Dec-0.3%
2018
Jan-2.9%
Feb-3.4%
Mar-5.0%
Apr+5.7%
May+8.0%
Jun-1.6%
Jul+9.0%
Aug-0.3%
Sep+1.4%
Oct-4.8%
Nov+0.4%
Dec-13.3%
2017
Jan+3.2%
Feb+0.3%
Mar+6.4%
Apr-2.2%
May+7.1%
Jun+5.1%
Jul-2.5%
Aug+2.5%
Sep+2.7%
Oct-2.8%
Nov-3.1%
Dec+6.2%
2016
Jan-4.3%
Feb+8.3%
Mar+8.4%
Apr-1.4%
May-3.7%
Jun+0.1%
Jul+7.0%
Aug+1.7%
Sep+2.1%
Oct-3.9%
Nov+6.3%
Dec+1.3%
2015
Jan-4.3%
Feb+4.8%
Mar-2.9%
Apr-3.5%
May-8.0%
Jun-2.3%
Jul+8.1%
Aug-11.1%
Sep+2.8%
Oct+7.6%
Nov-2.2%
Dec-6.1%
2014
Jan-6.2%
Feb+5.7%
Mar-0.2%
Apr+4.2%
May+3.4%
Jun+7.7%
Jul+2.8%
Aug+7.5%
Sep-0.9%
Oct-0.5%
Nov+0.7%
Dec-2.7%
2013
Jan+5.1%
Feb+6.0%
Mar-0.7%
Apr-2.3%
May+3.4%
Jun-3.6%
Jul+2.7%
Aug-6.1%
Sep+8.6%
Oct+8.4%
Nov+2.3%
Dec+1.8%
2012
Jan-4.0%
Feb+2.1%
Mar+3.7%
Apr+7.4%
May-3.9%
Jun+3.5%
Jul+4.4%
Aug+3.9%
Sep-3.2%
Oct-2.1%
Nov+4.0%
Dec+1.7%
2011
Jan+2.2%
Feb+7.9%
Mar+3.2%
Apr+2.8%
May+1.1%
Jun+2.5%
Jul-6.3%
Aug-1.4%
Sep-9.3%
Oct+17.7%
Nov-1.1%
Dec+1.7%
2010
Jan-8.2%
Feb+5.5%
Mar+15.6%
Apr-1.4%
May-4.0%
Jun+0.5%
Jul+9.7%
Aug-3.1%
Sep+5.3%
Oct+1.2%
Nov-1.3%
Dec+4.3%
2009
Jan-4.8%
Feb-7.6%
Mar+10.6%
Apr+14.0%
May+7.5%
Jun-0.6%
Jul+13.5%
Aug-1.0%
Sep+2.0%
Oct-1.6%
Nov+9.1%
Dec+3.8%
2008
Jan+7.6%
Feb+4.6%
Mar-8.1%
Apr+8.4%
May+7.7%
Jun-14.4%
Jul+9.8%
Aug-0.4%
Sep-8.6%
Oct-9.5%
Nov-18.6%
Dec+5.1%
2007
Jan+6.1%
Feb-4.2%
Mar+1.4%
Apr+13.8%
May+8.7%
Jun-6.4%
Jul+2.4%
Aug+0.9%
Sep+8.8%
Oct-1.8%
Nov-12.4%
Dec-3.9%
2006
Jan+13.0%
Feb+4.4%
Mar-3.6%
Apr-0.8%
May-0.5%
Jun-1.8%
Jul-7.7%
Aug+5.9%
Sep-1.6%
Oct+13.6%
Nov-1.1%
Dec-8.3%
2005
Jan-2.9%
Feb+4.2%
Mar+2.7%
Apr-9.7%
May+7.1%
Jun-5.6%
Jul+15.3%
Aug-0.3%
Sep+7.6%
Oct+2.1%
Nov+10.2%
Dec+0.4%
2004
Jan-5.3%
Feb-1.2%
Mar+0.2%
Apr-4.0%
May+4.6%
Jun+10.9%
Jul+3.3%
Aug+1.2%
Sep+6.9%
Oct+11.4%
Nov+7.3%
Dec+6.0%
2003
Jan-1.6%
Feb+3.8%
Mar+1.3%
Apr+13.7%
May+3.8%
Jun-4.0%
Jul+7.9%
Aug+3.2%
Sep-2.7%
Oct+15.7%
Nov-1.5%
Dec+7.2%
2002
Jan+1.2%
Feb+2.7%
Mar+0.0%
Apr-4.1%
May+3.7%
Jun+4.7%
Jul-7.4%
Aug-9.1%
Sep-14.1%
Oct+14.4%
Nov-3.7%
Dec+1.8%
2001
Jan+24.4%
Feb+1.6%
Mar+0.8%
Apr+5.1%
May+1.4%
Jun+1.2%
Jul+12.6%
Aug-4.6%
Sep-12.2%
Oct+4.2%
Nov+12.4%
Dec+8.9%
2000
Jan-5.9%
Feb-5.5%
Mar+14.1%
Apr+5.1%
May-4.5%
Jun+9.4%
Jul+8.9%
Aug-7.3%
Sep+0.0%
Oct+7.5%
Nov-0.3%
Dec-4.9%
1999
Jan+3.5%
Feb-9.7%
Mar+15.6%
Apr+13.5%
May+1.3%
Jun+5.3%
Jul+0.0%
Aug-5.0%
Sep-4.3%
Oct+0.6%
Nov-1.9%
Dec-11.1%
1998
Jan+5.6%
Feb+24.5%
Mar+3.3%
Apr+1.6%
May-8.8%
Jun-9.9%
Jul-0.8%
Aug-14.6%
Sep+0.0%
Oct+12.6%
Nov+7.2%
Dec-3.3%
1997
Jan+4.4%
Feb-8.4%
Mar-2.3%
Apr+8.8%
May+8.6%
Jun+5.4%
Jul+18.8%
Aug-4.3%
Sep+5.0%
Oct+3.5%
Nov-3.8%
Dec-8.3%
1996
Jan—
Feb—
Mar—
Apr—
May—
Jun—
Jul—
Aug—
Sep—
Oct—
Nov—
Dec-7.1%
Avg
Jan+1.1%
Feb+2.1%
Mar+2.4%
Apr+2.2%
May+1.9%
Jun+0.3%
Jul+4.4%
Aug-1.3%
Sep-0.6%
Oct+3.5%
Nov+1.2%
Dec-0.7%
Median
Jan-0.4%
Feb+2.8%
Mar+1.7%
Apr+2.2%
May+3.6%
Jun+0.3%
Jul+3.3%
Aug-0.4%
Sep-0.0%
Oct+1.7%
Nov+0.4%
Dec+0.9%
Last 5Y Avg
Jan-0.3%
Feb+3.1%
Mar+0.8%
Apr-2.1%
May+2.0%
Jun+0.3%
Jul+0.7%
Aug+0.1%
Sep-3.1%
Oct+3.2%
Nov+3.3%
Dec-1.1%
Std Dev (σ)
Jan7.1%
Feb7.4%
Mar6.4%
Apr7.1%
May5.3%
Jun5.8%
Jul7.3%
Aug5.7%
Sep5.9%
Oct7.7%
Nov6.8%
Dec6.1%
Consistency (μ/σ)
Jan0.15
Feb0.29
Mar0.37
Apr0.31
May0.36
Jun0.06
Jul0.60
Aug-0.23
Sep-0.11
Oct0.46
Nov0.18
Dec-0.12
Win Rate (%)
Jan50%
Feb67%
Mar63%
Apr57%
May67%
Jun53%
Jul72%
Aug41%
Sep41%
Oct59%
Nov52%
Dec53%
Winning / Losing Months
Jan▲15▼15
Feb▲20▼10
Mar▲19▼11
Apr▲17▼13
May▲20▼10
Jun▲16▼14
Jul▲21▼8
Aug▲12▼17
Sep▲12▼17
Oct▲17▼12
Nov▲15▼14
Dec▲16▼14
Longest Win / Loss Streak
Jan▲3▼3
Feb▲8▼2
Mar▲4▼3
Apr▲5▼3
May▲5▼2
Jun▲4▼5
Jul▲6▼2
Aug▲2▼6
Sep▲4▼6
Oct▲10▼5
Nov▲3▼3
Dec▲6▼5
Best
Jan+24.4%2001
Feb+24.5%1998
Mar+15.6%2010
Apr+14.0%2009
May+8.7%2007
Jun+10.9%2004
Jul+18.8%1997
Aug+8.3%2021
Sep+8.8%2007
Oct+17.7%2011
Nov+12.4%2001
Dec+8.9%2001
Worst
Jan-8.2%2010
Feb-9.7%1999
Mar-8.1%2020
Apr-12.3%2022
May-8.8%1998
Jun-14.4%2008
Jul-10.2%2025
Aug-14.6%1998
Sep-14.1%2002
Oct-9.5%2008
Nov-18.6%2008
Dec-13.3%2018
−18.6%+24.5%
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