Upwork (UPWK) 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 | +1.1% | -33.0% | -18.3% | -5.6% | -14.8% | -3.7% | — | — | — | — | — | — |
| 2025 | -3.6% | +1.1% | -18.1% | +0.8% | +17.8% | -13.2% | -11.0% | +28.7% | +20.7% | -14.2% | +23.8% | +0.4% |
| 2024 | -7.8% | -4.4% | -6.4% | -4.6% | -9.7% | +1.7% | +12.7% | -20.5% | +8.4% | +29.8% | +25.1% | -3.7% |
| 2023 | +24.1% | -12.5% | -0.2% | -15.5% | -14.3% | +13.9% | +11.7% | +42.0% | -23.3% | -8.0% | +34.8% | +5.5% |
| 2022 | -20.4% | -7.1% | -8.1% | -9.8% | -13.0% | +13.3% | -10.3% | -6.3% | -21.7% | -1.2% | -8.9% | -14.8% |
| 2021 | +20.1% | +30.0% | -16.9% | +2.9% | +2.2% | +23.8% | -11.2% | -13.7% | +0.7% | +4.6% | -20.9% | -8.3% |
| 2020 | -14.0% | -5.7% | -25.5% | +29.1% | +49.3% | +16.1% | +4.0% | +1.4% | +14.5% | +5.8% | +77.3% | +5.5% |
| 2019 | +6.6% | +22.7% | -19.2% | +4.4% | -25.1% | +7.3% | +2.2% | -12.0% | -8.0% | +13.0% | -22.5% | -8.4% |
| 2018 | — | — | — | — | — | — | — | — | — | — | -3.0% | -2.8% |
| Avg | +0.8% | -1.1% | -14.1% | +0.2% | -0.9% | +9.0% | -0.2% | +2.8% | -1.2% | +4.3% | +13.2% | -3.3% |
| Median | -1.3% | -5.1% | -17.5% | -1.9% | -11.3% | +13.3% | +2.2% | -6.3% | +0.7% | +4.6% | +10.4% | -3.2% |
| Last 5Y Avg | -1.3% | -11.2% | -10.2% | -6.9% | -6.8% | +7.9% | -1.6% | +6.1% | -3.0% | +2.2% | +10.8% | -4.2% |
| Std Dev (σ) | 15.6% | 19.8% | 8.3% | 13.4% | 24.1% | 12.0% | 10.6% | 23.5% | 17.2% | 14.4% | 33.9% | 7.1% |
| Consistency (μ/σ) | 0.05 | -0.06 | -1.69 | 0.02 | -0.04 | 0.75 | -0.02 | 0.12 | -0.07 | 0.29 | 0.39 | -0.47 |
| Win Rate (%) | 50% | 38% | 0% | 50% | 38% | 86% | 57% | 43% | 57% | 57% | 50% | 38% |
| Winning / Losing Months | ▲4▼4 | ▲3▼5 | ▲0▼8 | ▲4▼4 | ▲3▼5 | ▲6▼1 | ▲4▼3 | ▲3▼4 | ▲4▼3 | ▲4▼3 | ▲4▼4 | ▲3▼5 |
| Longest Win / Loss Streak | ▲1▼2 | ▲1▼3 | ▲0▼8 | ▲3▼3 | ▲2▼3 | ▲6▼1 | ▲2▼2 | ▲1▼2 | ▲2▼2 | ▲3▼2 | ▲3▼2 | ▲1▼2 |
| Best | +24.1%in January 2023 | +30.0%in February 2021 | -0.2%in March 2023 | +29.1%in April 2020 | +49.3%in May 2020 | +23.8%in June 2021 | +12.7%in July 2024 | +42.0%in August 2023 | +20.7%in September 2025 | +29.8%in October 2024 | +77.3%in November 2020 | +5.5%in December 2023 |
| Worst | -20.4%in January 2022 | -33.0%in February 2026 | -25.5%in March 2020 | -15.5%in April 2023 | -25.1%in May 2019 | -13.2%in June 2025 | -11.2%in July 2021 | -20.5%in August 2024 | -23.3%in September 2023 | -14.2%in October 2025 | -22.5%in November 2019 | -14.8%in December 2022 |
−33.0%+77.3%
2026
Jan+1.1%
Feb-33.0%
Mar-18.3%
Apr-5.6%
May-14.8%
Jun-3.7%
Jul—
Aug—
Sep—
Oct—
Nov—
Dec—
2025
Jan-3.6%
Feb+1.1%
Mar-18.1%
Apr+0.8%
May+17.8%
Jun-13.2%
Jul-11.0%
Aug+28.7%
Sep+20.7%
Oct-14.2%
Nov+23.8%
Dec+0.4%
2024
Jan-7.8%
Feb-4.4%
Mar-6.4%
Apr-4.6%
May-9.7%
Jun+1.7%
Jul+12.7%
Aug-20.5%
Sep+8.4%
Oct+29.8%
Nov+25.1%
Dec-3.7%
2023
Jan+24.1%
Feb-12.5%
Mar-0.2%
Apr-15.5%
May-14.3%
Jun+13.9%
Jul+11.7%
Aug+42.0%
Sep-23.3%
Oct-8.0%
Nov+34.8%
Dec+5.5%
2022
Jan-20.4%
Feb-7.1%
Mar-8.1%
Apr-9.8%
May-13.0%
Jun+13.3%
Jul-10.3%
Aug-6.3%
Sep-21.7%
Oct-1.2%
Nov-8.9%
Dec-14.8%
2021
Jan+20.1%
Feb+30.0%
Mar-16.9%
Apr+2.9%
May+2.2%
Jun+23.8%
Jul-11.2%
Aug-13.7%
Sep+0.7%
Oct+4.6%
Nov-20.9%
Dec-8.3%
2020
Jan-14.0%
Feb-5.7%
Mar-25.5%
Apr+29.1%
May+49.3%
Jun+16.1%
Jul+4.0%
Aug+1.4%
Sep+14.5%
Oct+5.8%
Nov+77.3%
Dec+5.5%
2019
Jan+6.6%
Feb+22.7%
Mar-19.2%
Apr+4.4%
May-25.1%
Jun+7.3%
Jul+2.2%
Aug-12.0%
Sep-8.0%
Oct+13.0%
Nov-22.5%
Dec-8.4%
2018
Jan—
Feb—
Mar—
Apr—
May—
Jun—
Jul—
Aug—
Sep—
Oct—
Nov-3.0%
Dec-2.8%
Avg
Jan+0.8%
Feb-1.1%
Mar-14.1%
Apr+0.2%
May-0.9%
Jun+9.0%
Jul-0.2%
Aug+2.8%
Sep-1.2%
Oct+4.3%
Nov+13.2%
Dec-3.3%
Median
Jan-1.3%
Feb-5.1%
Mar-17.5%
Apr-1.9%
May-11.3%
Jun+13.3%
Jul+2.2%
Aug-6.3%
Sep+0.7%
Oct+4.6%
Nov+10.4%
Dec-3.2%
Last 5Y Avg
Jan-1.3%
Feb-11.2%
Mar-10.2%
Apr-6.9%
May-6.8%
Jun+7.9%
Jul-1.6%
Aug+6.1%
Sep-3.0%
Oct+2.2%
Nov+10.8%
Dec-4.2%
Std Dev (σ)
Jan15.6%
Feb19.8%
Mar8.3%
Apr13.4%
May24.1%
Jun12.0%
Jul10.6%
Aug23.5%
Sep17.2%
Oct14.4%
Nov33.9%
Dec7.1%
Consistency (μ/σ)
Jan0.05
Feb-0.06
Mar-1.69
Apr0.02
May-0.04
Jun0.75
Jul-0.02
Aug0.12
Sep-0.07
Oct0.29
Nov0.39
Dec-0.47
Win Rate (%)
Jan50%
Feb38%
Mar0%
Apr50%
May38%
Jun86%
Jul57%
Aug43%
Sep57%
Oct57%
Nov50%
Dec38%
Winning / Losing Months
Jan▲4▼4
Feb▲3▼5
Mar▲0▼8
Apr▲4▼4
May▲3▼5
Jun▲6▼1
Jul▲4▼3
Aug▲3▼4
Sep▲4▼3
Oct▲4▼3
Nov▲4▼4
Dec▲3▼5
Longest Win / Loss Streak
Jan▲1▼2
Feb▲1▼3
Mar▲0▼8
Apr▲3▼3
May▲2▼3
Jun▲6▼1
Jul▲2▼2
Aug▲1▼2
Sep▲2▼2
Oct▲3▼2
Nov▲3▼2
Dec▲1▼2
Best
Jan+24.1%2023
Feb+30.0%2021
Mar-0.2%2023
Apr+29.1%2020
May+49.3%2020
Jun+23.8%2021
Jul+12.7%2024
Aug+42.0%2023
Sep+20.7%2025
Oct+29.8%2024
Nov+77.3%2020
Dec+5.5%2023
Worst
Jan-20.4%2022
Feb-33.0%2026
Mar-25.5%2020
Apr-15.5%2023
May-25.1%2019
Jun-13.2%2025
Jul-11.2%2021
Aug-20.5%2024
Sep-23.3%2023
Oct-14.2%2025
Nov-22.5%2019
Dec-14.8%2022
−33.0%+77.3%
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