Morgan Stanley (MS) 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 | +3.5% | -8.9% | -1.2% | +15.9% | +9.1% | +2.9% | — | — | — | — | — | — |
| 2025 | +10.8% | -3.8% | -12.4% | -0.3% | +10.9% | +10.0% | +1.8% | +5.6% | +5.6% | +3.8% | +3.5% | +4.6% |
| 2024 | -5.5% | -1.4% | +9.4% | -2.6% | +7.7% | -0.7% | +7.1% | +0.4% | +0.6% | +12.4% | +13.2% | -4.5% |
| 2023 | +15.4% | -0.9% | -9.0% | +3.4% | -9.1% | +4.5% | +8.2% | -7.0% | -4.1% | -12.2% | +12.0% | +17.5% |
| 2022 | +5.2% | -11.5% | -3.7% | -7.0% | +6.9% | -11.7% | +11.9% | +1.1% | -7.3% | +5.0% | +13.3% | -8.6% |
| 2021 | -1.7% | +14.6% | +1.0% | +6.7% | +10.2% | +0.8% | +5.4% | +8.8% | -6.8% | +6.3% | -7.7% | +3.5% |
| 2020 | +2.9% | -13.8% | -24.5% | +17.0% | +12.1% | +9.3% | +1.9% | +6.9% | -7.5% | +0.3% | +28.4% | +10.8% |
| 2019 | +7.4% | -0.8% | +0.5% | +15.1% | -15.7% | +7.7% | +2.5% | -6.9% | +2.8% | +8.7% | +7.4% | +3.3% |
| 2018 | +8.3% | -0.9% | -3.7% | -3.9% | -2.9% | -5.5% | +7.3% | -3.4% | -4.6% | -1.3% | -2.8% | -10.7% |
| 2017 | +1.0% | +7.5% | -6.2% | +1.7% | -3.8% | +6.8% | +5.8% | -3.0% | +5.9% | +4.3% | +3.2% | +1.7% |
| 2016 | -18.1% | -4.6% | +1.3% | +8.8% | +1.1% | -5.1% | +11.3% | +11.6% | +0.0% | +5.4% | +23.2% | +2.1% |
| 2015 | -12.6% | +5.9% | -0.3% | +5.0% | +2.4% | +1.6% | +0.5% | -11.3% | -8.6% | +5.1% | +4.1% | -7.3% |
| 2014 | -5.7% | +4.4% | +1.2% | -0.4% | -0.2% | +4.8% | +0.3% | +6.1% | +0.8% | +1.4% | +0.7% | +10.3% |
| 2013 | +19.5% | -1.1% | -2.5% | +1.0% | +17.0% | -5.7% | +11.6% | -5.3% | +4.6% | +6.8% | +8.9% | +0.2% |
| 2012 | +23.6% | -0.6% | +5.9% | -11.8% | -22.7% | +9.2% | -6.1% | +9.8% | +11.6% | +3.8% | -2.9% | +13.4% |
| 2011 | +8.2% | +1.0% | -7.9% | -4.1% | -7.6% | -4.8% | -3.1% | -21.4% | -22.8% | +31.0% | -16.2% | +2.4% |
| 2010 | -9.4% | +5.2% | +4.0% | +3.3% | -10.3% | -14.4% | +16.5% | -8.6% | +0.0% | +1.0% | -1.7% | +11.3% |
| 2009 | +27.8% | -3.5% | +16.6% | +4.1% | +28.3% | -6.0% | +0.1% | +1.6% | +6.6% | +4.2% | -1.7% | -6.3% |
| 2008 | -6.6% | -14.6% | +8.5% | +6.9% | -9.0% | -18.4% | +10.2% | +3.4% | -43.7% | -23.0% | -15.6% | +8.8% |
| 2007 | +2.1% | -9.5% | +5.1% | +7.1% | +1.2% | -1.4% | -10.1% | -2.3% | +1.0% | +7.2% | -21.6% | +0.7% |
| 2006 | +8.9% | -2.9% | +5.3% | +2.8% | -7.3% | +6.0% | +5.7% | -1.1% | +10.8% | +5.3% | -0.4% | +6.9% |
| 2005 | +1.4% | +0.9% | +1.4% | -7.6% | -7.0% | +7.2% | +1.7% | -4.1% | +6.0% | +1.5% | +3.0% | +1.2% |
| 2004 | +1.1% | +2.7% | -4.1% | -9.8% | +4.1% | -1.4% | -6.0% | +2.8% | -2.8% | +4.3% | -0.7% | +9.4% |
| 2003 | -4.4% | -2.8% | +4.1% | +17.5% | +2.2% | -6.6% | +11.6% | +2.8% | +3.4% | +9.3% | +0.7% | +4.7% |
| 2002 | -1.2% | -10.7% | +16.7% | -16.3% | -4.7% | -5.3% | -5.7% | +5.8% | -20.7% | +15.8% | +16.2% | -11.8% |
| 2001 | +7.4% | -23.2% | -17.8% | +18.0% | +3.5% | -1.2% | -6.5% | -10.8% | -13.1% | +6.1% | +13.5% | +0.8% |
| 2000 | -6.9% | +6.3% | +17.6% | -7.2% | -6.8% | +16.4% | +9.9% | +17.9% | -15.0% | -12.0% | -21.1% | +25.1% |
| 1999 | +22.5% | +4.4% | +10.4% | -0.5% | -2.7% | +6.3% | -11.8% | -4.9% | +3.9% | +24.1% | +9.4% | +18.3% |
| 1998 | -0.9% | +19.6% | +4.4% | +8.5% | -1.0% | +17.0% | -4.5% | -33.3% | -25.7% | +51.4% | +7.1% | +2.0% |
| 1997 | +15.1% | +1.1% | -9.1% | +9.6% | +9.0% | +3.8% | +22.2% | -8.2% | +12.4% | -9.1% | +10.8% | +8.9% |
| 1996 | +15.2% | -0.2% | +6.4% | -4.8% | +9.2% | -3.6% | -10.9% | -1.4% | +10.1% | +7.0% | +16.4% | -3.1% |
| 1995 | +10.4% | +8.0% | +1.5% | +3.9% | +12.4% | -0.9% | +7.3% | +1.9% | +9.7% | -11.5% | +3.0% | -7.8% |
| 1994 | +10.7% | -5.9% | -9.3% | +15.4% | +4.5% | -3.9% | +7.1% | +6.4% | -11.7% | +2.6% | -9.0% | -3.3% |
| 1993 | — | — | +16.0% | +1.0% | -11.1% | +9.0% | -0.5% | +4.6% | +13.3% | -6.6% | -7.3% | -8.8% |
| Avg | +4.7% | -1.2% | +0.8% | +2.8% | +0.9% | +0.7% | +3.1% | -1.1% | -2.6% | +4.8% | +2.7% | +2.9% |
| Median | +3.5% | -0.9% | +1.2% | +3.1% | +1.2% | -0.7% | +2.5% | +0.4% | +0.6% | +4.3% | +3.0% | +2.1% |
| Last 5Y Avg | +5.9% | -5.3% | -3.4% | +1.9% | +5.1% | +0.6% | +6.9% | +1.8% | -2.4% | +3.1% | +6.8% | +2.5% |
| Std Dev (σ) | 10.7% | 8.5% | 9.6% | 8.8% | 10.2% | 8.1% | 8.1% | 9.7% | 12.6% | 13.1% | 11.7% | 8.8% |
| Consistency (μ/σ) | 0.44 | -0.14 | 0.08 | 0.32 | 0.09 | 0.09 | 0.39 | -0.11 | -0.20 | 0.37 | 0.23 | 0.33 |
| Win Rate (%) | 67% | 39% | 59% | 62% | 53% | 48% | 70% | 52% | 52% | 79% | 61% | 70% |
| Winning / Losing Months | ▲22▼11 | ▲13▼20 | ▲20▼14 | ▲21▼13 | ▲18▼16 | ▲16▼17 | ▲23▼10 | ▲17▼16 | ▲17▼16 | ▲26▼7 | ▲20▼13 | ▲23▼10 |
| Longest Win / Loss Streak | ▲4▼3 | ▲4▼5 | ▲6▼2 | ▲5▼2 | ▲4▼3 | ▲4▼5 | ▲13▼2 | ▲3▼4 | ▲3▼4 | ▲9▼1 | ▲5▼7 | ▲6▼4 |
| Best | +27.8%in January 2009 | +19.6%in February 1998 | +17.6%in March 2000 | +18.0%in April 2001 | +28.3%in May 2009 | +17.0%in June 1998 | +22.2%in July 1997 | +17.9%in August 2000 | +13.3%in September 1993 | +51.4%in October 1998 | +28.4%in November 2020 | +25.1%in December 2000 |
| Worst | -18.1%in January 2016 | -23.2%in February 2001 | -24.5%in March 2020 | -16.3%in April 2002 | -22.7%in May 2012 | -18.4%in June 2008 | -11.8%in July 1999 | -33.3%in August 1998 | -43.7%in September 2008 | -23.0%in October 2008 | -21.6%in November 2007 | -11.8%in December 2002 |
−43.7%+51.4%
2026
Jan+3.5%
Feb-8.9%
Mar-1.2%
Apr+15.9%
May+9.1%
Jun+2.9%
Jul—
Aug—
Sep—
Oct—
Nov—
Dec—
2025
Jan+10.8%
Feb-3.8%
Mar-12.4%
Apr-0.3%
May+10.9%
Jun+10.0%
Jul+1.8%
Aug+5.6%
Sep+5.6%
Oct+3.8%
Nov+3.5%
Dec+4.6%
2024
Jan-5.5%
Feb-1.4%
Mar+9.4%
Apr-2.6%
May+7.7%
Jun-0.7%
Jul+7.1%
Aug+0.4%
Sep+0.6%
Oct+12.4%
Nov+13.2%
Dec-4.5%
2023
Jan+15.4%
Feb-0.9%
Mar-9.0%
Apr+3.4%
May-9.1%
Jun+4.5%
Jul+8.2%
Aug-7.0%
Sep-4.1%
Oct-12.2%
Nov+12.0%
Dec+17.5%
2022
Jan+5.2%
Feb-11.5%
Mar-3.7%
Apr-7.0%
May+6.9%
Jun-11.7%
Jul+11.9%
Aug+1.1%
Sep-7.3%
Oct+5.0%
Nov+13.3%
Dec-8.6%
2021
Jan-1.7%
Feb+14.6%
Mar+1.0%
Apr+6.7%
May+10.2%
Jun+0.8%
Jul+5.4%
Aug+8.8%
Sep-6.8%
Oct+6.3%
Nov-7.7%
Dec+3.5%
2020
Jan+2.9%
Feb-13.8%
Mar-24.5%
Apr+17.0%
May+12.1%
Jun+9.3%
Jul+1.9%
Aug+6.9%
Sep-7.5%
Oct+0.3%
Nov+28.4%
Dec+10.8%
2019
Jan+7.4%
Feb-0.8%
Mar+0.5%
Apr+15.1%
May-15.7%
Jun+7.7%
Jul+2.5%
Aug-6.9%
Sep+2.8%
Oct+8.7%
Nov+7.4%
Dec+3.3%
2018
Jan+8.3%
Feb-0.9%
Mar-3.7%
Apr-3.9%
May-2.9%
Jun-5.5%
Jul+7.3%
Aug-3.4%
Sep-4.6%
Oct-1.3%
Nov-2.8%
Dec-10.7%
2017
Jan+1.0%
Feb+7.5%
Mar-6.2%
Apr+1.7%
May-3.8%
Jun+6.8%
Jul+5.8%
Aug-3.0%
Sep+5.9%
Oct+4.3%
Nov+3.2%
Dec+1.7%
2016
Jan-18.1%
Feb-4.6%
Mar+1.3%
Apr+8.8%
May+1.1%
Jun-5.1%
Jul+11.3%
Aug+11.6%
Sep+0.0%
Oct+5.4%
Nov+23.2%
Dec+2.1%
2015
Jan-12.6%
Feb+5.9%
Mar-0.3%
Apr+5.0%
May+2.4%
Jun+1.6%
Jul+0.5%
Aug-11.3%
Sep-8.6%
Oct+5.1%
Nov+4.1%
Dec-7.3%
2014
Jan-5.7%
Feb+4.4%
Mar+1.2%
Apr-0.4%
May-0.2%
Jun+4.8%
Jul+0.3%
Aug+6.1%
Sep+0.8%
Oct+1.4%
Nov+0.7%
Dec+10.3%
2013
Jan+19.5%
Feb-1.1%
Mar-2.5%
Apr+1.0%
May+17.0%
Jun-5.7%
Jul+11.6%
Aug-5.3%
Sep+4.6%
Oct+6.8%
Nov+8.9%
Dec+0.2%
2012
Jan+23.6%
Feb-0.6%
Mar+5.9%
Apr-11.8%
May-22.7%
Jun+9.2%
Jul-6.1%
Aug+9.8%
Sep+11.6%
Oct+3.8%
Nov-2.9%
Dec+13.4%
2011
Jan+8.2%
Feb+1.0%
Mar-7.9%
Apr-4.1%
May-7.6%
Jun-4.8%
Jul-3.1%
Aug-21.4%
Sep-22.8%
Oct+31.0%
Nov-16.2%
Dec+2.4%
2010
Jan-9.4%
Feb+5.2%
Mar+4.0%
Apr+3.3%
May-10.3%
Jun-14.4%
Jul+16.5%
Aug-8.6%
Sep+0.0%
Oct+1.0%
Nov-1.7%
Dec+11.3%
2009
Jan+27.8%
Feb-3.5%
Mar+16.6%
Apr+4.1%
May+28.3%
Jun-6.0%
Jul+0.1%
Aug+1.6%
Sep+6.6%
Oct+4.2%
Nov-1.7%
Dec-6.3%
2008
Jan-6.6%
Feb-14.6%
Mar+8.5%
Apr+6.9%
May-9.0%
Jun-18.4%
Jul+10.2%
Aug+3.4%
Sep-43.7%
Oct-23.0%
Nov-15.6%
Dec+8.8%
2007
Jan+2.1%
Feb-9.5%
Mar+5.1%
Apr+7.1%
May+1.2%
Jun-1.4%
Jul-10.1%
Aug-2.3%
Sep+1.0%
Oct+7.2%
Nov-21.6%
Dec+0.7%
2006
Jan+8.9%
Feb-2.9%
Mar+5.3%
Apr+2.8%
May-7.3%
Jun+6.0%
Jul+5.7%
Aug-1.1%
Sep+10.8%
Oct+5.3%
Nov-0.4%
Dec+6.9%
2005
Jan+1.4%
Feb+0.9%
Mar+1.4%
Apr-7.6%
May-7.0%
Jun+7.2%
Jul+1.7%
Aug-4.1%
Sep+6.0%
Oct+1.5%
Nov+3.0%
Dec+1.2%
2004
Jan+1.1%
Feb+2.7%
Mar-4.1%
Apr-9.8%
May+4.1%
Jun-1.4%
Jul-6.0%
Aug+2.8%
Sep-2.8%
Oct+4.3%
Nov-0.7%
Dec+9.4%
2003
Jan-4.4%
Feb-2.8%
Mar+4.1%
Apr+17.5%
May+2.2%
Jun-6.6%
Jul+11.6%
Aug+2.8%
Sep+3.4%
Oct+9.3%
Nov+0.7%
Dec+4.7%
2002
Jan-1.2%
Feb-10.7%
Mar+16.7%
Apr-16.3%
May-4.7%
Jun-5.3%
Jul-5.7%
Aug+5.8%
Sep-20.7%
Oct+15.8%
Nov+16.2%
Dec-11.8%
2001
Jan+7.4%
Feb-23.2%
Mar-17.8%
Apr+18.0%
May+3.5%
Jun-1.2%
Jul-6.5%
Aug-10.8%
Sep-13.1%
Oct+6.1%
Nov+13.5%
Dec+0.8%
2000
Jan-6.9%
Feb+6.3%
Mar+17.6%
Apr-7.2%
May-6.8%
Jun+16.4%
Jul+9.9%
Aug+17.9%
Sep-15.0%
Oct-12.0%
Nov-21.1%
Dec+25.1%
1999
Jan+22.5%
Feb+4.4%
Mar+10.4%
Apr-0.5%
May-2.7%
Jun+6.3%
Jul-11.8%
Aug-4.9%
Sep+3.9%
Oct+24.1%
Nov+9.4%
Dec+18.3%
1998
Jan-0.9%
Feb+19.6%
Mar+4.4%
Apr+8.5%
May-1.0%
Jun+17.0%
Jul-4.5%
Aug-33.3%
Sep-25.7%
Oct+51.4%
Nov+7.1%
Dec+2.0%
1997
Jan+15.1%
Feb+1.1%
Mar-9.1%
Apr+9.6%
May+9.0%
Jun+3.8%
Jul+22.2%
Aug-8.2%
Sep+12.4%
Oct-9.1%
Nov+10.8%
Dec+8.9%
1996
Jan+15.2%
Feb-0.2%
Mar+6.4%
Apr-4.8%
May+9.2%
Jun-3.6%
Jul-10.9%
Aug-1.4%
Sep+10.1%
Oct+7.0%
Nov+16.4%
Dec-3.1%
1995
Jan+10.4%
Feb+8.0%
Mar+1.5%
Apr+3.9%
May+12.4%
Jun-0.9%
Jul+7.3%
Aug+1.9%
Sep+9.7%
Oct-11.5%
Nov+3.0%
Dec-7.8%
1994
Jan+10.7%
Feb-5.9%
Mar-9.3%
Apr+15.4%
May+4.5%
Jun-3.9%
Jul+7.1%
Aug+6.4%
Sep-11.7%
Oct+2.6%
Nov-9.0%
Dec-3.3%
1993
Jan—
Feb—
Mar+16.0%
Apr+1.0%
May-11.1%
Jun+9.0%
Jul-0.5%
Aug+4.6%
Sep+13.3%
Oct-6.6%
Nov-7.3%
Dec-8.8%
Avg
Jan+4.7%
Feb-1.2%
Mar+0.8%
Apr+2.8%
May+0.9%
Jun+0.7%
Jul+3.1%
Aug-1.1%
Sep-2.6%
Oct+4.8%
Nov+2.7%
Dec+2.9%
Median
Jan+3.5%
Feb-0.9%
Mar+1.2%
Apr+3.1%
May+1.2%
Jun-0.7%
Jul+2.5%
Aug+0.4%
Sep+0.6%
Oct+4.3%
Nov+3.0%
Dec+2.1%
Last 5Y Avg
Jan+5.9%
Feb-5.3%
Mar-3.4%
Apr+1.9%
May+5.1%
Jun+0.6%
Jul+6.9%
Aug+1.8%
Sep-2.4%
Oct+3.1%
Nov+6.8%
Dec+2.5%
Std Dev (σ)
Jan10.7%
Feb8.5%
Mar9.6%
Apr8.8%
May10.2%
Jun8.1%
Jul8.1%
Aug9.7%
Sep12.6%
Oct13.1%
Nov11.7%
Dec8.8%
Consistency (μ/σ)
Jan0.44
Feb-0.14
Mar0.08
Apr0.32
May0.09
Jun0.09
Jul0.39
Aug-0.11
Sep-0.20
Oct0.37
Nov0.23
Dec0.33
Win Rate (%)
Jan67%
Feb39%
Mar59%
Apr62%
May53%
Jun48%
Jul70%
Aug52%
Sep52%
Oct79%
Nov61%
Dec70%
Winning / Losing Months
Jan▲22▼11
Feb▲13▼20
Mar▲20▼14
Apr▲21▼13
May▲18▼16
Jun▲16▼17
Jul▲23▼10
Aug▲17▼16
Sep▲17▼16
Oct▲26▼7
Nov▲20▼13
Dec▲23▼10
Longest Win / Loss Streak
Jan▲4▼3
Feb▲4▼5
Mar▲6▼2
Apr▲5▼2
May▲4▼3
Jun▲4▼5
Jul▲13▼2
Aug▲3▼4
Sep▲3▼4
Oct▲9▼1
Nov▲5▼7
Dec▲6▼4
Best
Jan+27.8%2009
Feb+19.6%1998
Mar+17.6%2000
Apr+18.0%2001
May+28.3%2009
Jun+17.0%1998
Jul+22.2%1997
Aug+17.9%2000
Sep+13.3%1993
Oct+51.4%1998
Nov+28.4%2020
Dec+25.1%2000
Worst
Jan-18.1%2016
Feb-23.2%2001
Mar-24.5%2020
Apr-16.3%2002
May-22.7%2012
Jun-18.4%2008
Jul-11.8%1999
Aug-33.3%1998
Sep-43.7%2008
Oct-23.0%2008
Nov-21.6%2007
Dec-11.8%2002
−43.7%+51.4%
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