Willis Towers Watson Public Limited (WTW) 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 | -3.4% | -3.9% | -4.7% | -11.9% | -2.5% | +5.2% | — | — | — | — | — | — |
| 2025 | +5.2% | +3.1% | -0.2% | -8.9% | +2.8% | -2.9% | +3.0% | +3.5% | +6.0% | -9.4% | +2.5% | +2.7% |
| 2024 | +2.1% | +10.7% | +1.2% | -8.7% | +1.7% | +3.0% | +7.7% | +3.5% | +1.1% | +2.6% | +6.6% | -2.4% |
| 2023 | +3.9% | -7.8% | -0.5% | -0.3% | -5.5% | +8.0% | -10.3% | -2.2% | +1.5% | +12.9% | +4.4% | -1.7% |
| 2022 | -1.5% | -5.0% | +6.6% | -9.0% | -1.8% | -6.1% | +4.8% | -0.1% | -2.5% | +8.6% | +12.8% | -0.3% |
| 2021 | -3.7% | +8.7% | +4.1% | +13.1% | +1.2% | -12.0% | -10.4% | +7.1% | +5.7% | +4.2% | -6.8% | +5.5% |
| 2020 | +4.6% | -10.4% | -9.9% | +5.0% | +13.8% | -2.6% | +6.6% | -2.1% | +1.9% | -12.6% | +14.1% | +1.5% |
| 2019 | +7.2% | +5.7% | +2.5% | +4.9% | -4.8% | +9.5% | +1.9% | +1.4% | -2.2% | -3.1% | +5.1% | +3.1% |
| 2018 | +6.5% | -1.6% | -3.2% | -2.4% | +1.8% | +0.7% | +5.2% | -7.6% | -3.9% | +1.6% | +11.4% | -4.4% |
| 2017 | +2.3% | +2.6% | +2.3% | +1.3% | +10.6% | -0.4% | +2.3% | -0.3% | +4.2% | +4.4% | -0.2% | -6.0% |
| 2016 | -11.0% | -1.0% | +5.1% | +5.3% | +2.5% | -2.5% | -0.6% | +0.3% | +7.5% | -5.2% | -1.2% | -1.3% |
| 2015 | -3.4% | +10.2% | +1.6% | +0.9% | -2.4% | -0.5% | -0.9% | -7.3% | -4.2% | +8.9% | +3.8% | +5.7% |
| 2014 | -3.9% | -4.4% | +8.0% | -7.1% | +2.3% | +4.0% | -5.9% | +3.0% | -0.6% | -2.1% | +5.4% | +5.6% |
| 2013 | +6.5% | +6.6% | +4.5% | +0.5% | -1.6% | +5.1% | +5.0% | -3.6% | +5.6% | +4.0% | -0.6% | +0.7% |
| 2012 | +0.2% | -7.7% | -1.8% | +4.2% | -3.3% | +4.2% | +1.4% | +0.9% | -0.3% | -8.8% | +4.2% | -3.6% |
| 2011 | +8.5% | +3.5% | +4.5% | +2.4% | +0.4% | -0.3% | -0.4% | -4.4% | -11.5% | +5.6% | -2.9% | +10.8% |
| 2010 | -0.6% | +13.5% | +5.9% | +10.1% | -11.1% | -1.0% | +1.8% | -5.1% | +7.0% | +3.2% | +0.1% | +9.6% |
| 2009 | -0.5% | -11.6% | +1.6% | +25.0% | -3.2% | -2.4% | -3.2% | +3.5% | +10.5% | -4.3% | +0.6% | -1.9% |
| 2008 | -7.8% | -6.1% | +3.1% | +3.4% | +3.1% | -11.8% | -0.3% | +10.1% | -5.5% | -18.7% | -12.1% | +9.1% |
| 2007 | +2.9% | -2.9% | +0.4% | +3.6% | +12.9% | -4.3% | -7.9% | -4.2% | +5.9% | +3.4% | -5.6% | -4.3% |
| 2006 | -6.0% | -0.8% | +0.2% | +2.6% | -1.1% | -6.9% | +1.3% | +11.4% | +5.6% | +0.1% | +5.9% | -0.8% |
| 2005 | -6.1% | +2.3% | -6.2% | -9.3% | +2.4% | -3.9% | +1.3% | +5.5% | +7.9% | -1.1% | +0.4% | -0.4% |
| 2004 | +8.6% | +3.7% | -2.5% | -2.4% | -1.8% | +5.6% | -7.1% | +0.5% | +7.5% | -3.9% | +5.3% | +9.3% |
| 2003 | -9.1% | -3.9% | +11.1% | +12.6% | +1.4% | -2.4% | -2.1% | -3.7% | +6.7% | +8.3% | -0.8% | +3.6% |
| 2002 | +13.7% | +0.8% | -8.5% | +18.4% | +11.2% | +1.2% | -3.9% | -0.5% | +6.4% | -8.6% | -9.8% | +3.8% |
| 2001 | — | — | — | — | — | — | -2.8% | +9.0% | +24.3% | -0.4% | +1.7% | -0.6% |
| Avg | +0.6% | +0.2% | +1.0% | +2.1% | +1.2% | -0.8% | -0.5% | +0.8% | +3.4% | -0.4% | +1.8% | +1.7% |
| Median | +0.2% | -0.8% | +1.6% | +2.4% | +1.2% | -0.8% | -0.3% | +0.3% | +5.6% | +0.1% | +1.7% | +0.7% |
| Last 5Y Avg | +1.3% | -0.6% | +0.5% | -7.8% | -1.1% | -2.0% | -1.0% | +2.4% | +2.4% | +3.8% | +3.9% | +0.7% |
| Std Dev (σ) | 6.2% | 6.7% | 5.0% | 9.0% | 5.9% | 5.4% | 5.0% | 5.2% | 6.8% | 7.4% | 6.3% | 4.8% |
| Consistency (μ/σ) | 0.10 | 0.03 | 0.20 | 0.24 | 0.20 | -0.14 | -0.11 | 0.15 | 0.49 | -0.06 | 0.28 | 0.36 |
| Win Rate (%) | 52% | 48% | 64% | 64% | 56% | 38% | 48% | 52% | 68% | 52% | 64% | 52% |
| Winning / Losing Months | ▲13▼12 | ▲12▼13 | ▲16▼9 | ▲16▼9 | ▲14▼11 | ▲9▼15 | ▲12▼13 | ▲13▼12 | ▲17▼8 | ▲13▼12 | ▲16▼9 | ▲13▼12 |
| Longest Win / Loss Streak | ▲4▼3 | ▲2▼4 | ▲6▼2 | ▲8▼5 | ▲3▼2 | ▲3▼7 | ▲4▼4 | ▲3▼2 | ▲7▼2 | ▲4▼2 | ▲4▼2 | ▲3▼3 |
| Best | +13.7%in January 2002 | +13.5%in February 2010 | +11.1%in March 2003 | +25.0%in April 2009 | +13.8%in May 2020 | +9.5%in June 2019 | +7.7%in July 2024 | +11.4%in August 2006 | +24.3%in September 2001 | +12.9%in October 2023 | +14.1%in November 2020 | +10.8%in December 2011 |
| Worst | -11.0%in January 2016 | -11.6%in February 2009 | -9.9%in March 2020 | -11.9%in April 2026 | -11.1%in May 2010 | -12.0%in June 2021 | -10.4%in July 2021 | -7.6%in August 2018 | -11.5%in September 2011 | -18.7%in October 2008 | -12.1%in November 2008 | -6.0%in December 2017 |
−18.7%+25.0%
2026
Jan-3.4%
Feb-3.9%
Mar-4.7%
Apr-11.9%
May-2.5%
Jun+5.2%
Jul—
Aug—
Sep—
Oct—
Nov—
Dec—
2025
Jan+5.2%
Feb+3.1%
Mar-0.2%
Apr-8.9%
May+2.8%
Jun-2.9%
Jul+3.0%
Aug+3.5%
Sep+6.0%
Oct-9.4%
Nov+2.5%
Dec+2.7%
2024
Jan+2.1%
Feb+10.7%
Mar+1.2%
Apr-8.7%
May+1.7%
Jun+3.0%
Jul+7.7%
Aug+3.5%
Sep+1.1%
Oct+2.6%
Nov+6.6%
Dec-2.4%
2023
Jan+3.9%
Feb-7.8%
Mar-0.5%
Apr-0.3%
May-5.5%
Jun+8.0%
Jul-10.3%
Aug-2.2%
Sep+1.5%
Oct+12.9%
Nov+4.4%
Dec-1.7%
2022
Jan-1.5%
Feb-5.0%
Mar+6.6%
Apr-9.0%
May-1.8%
Jun-6.1%
Jul+4.8%
Aug-0.1%
Sep-2.5%
Oct+8.6%
Nov+12.8%
Dec-0.3%
2021
Jan-3.7%
Feb+8.7%
Mar+4.1%
Apr+13.1%
May+1.2%
Jun-12.0%
Jul-10.4%
Aug+7.1%
Sep+5.7%
Oct+4.2%
Nov-6.8%
Dec+5.5%
2020
Jan+4.6%
Feb-10.4%
Mar-9.9%
Apr+5.0%
May+13.8%
Jun-2.6%
Jul+6.6%
Aug-2.1%
Sep+1.9%
Oct-12.6%
Nov+14.1%
Dec+1.5%
2019
Jan+7.2%
Feb+5.7%
Mar+2.5%
Apr+4.9%
May-4.8%
Jun+9.5%
Jul+1.9%
Aug+1.4%
Sep-2.2%
Oct-3.1%
Nov+5.1%
Dec+3.1%
2018
Jan+6.5%
Feb-1.6%
Mar-3.2%
Apr-2.4%
May+1.8%
Jun+0.7%
Jul+5.2%
Aug-7.6%
Sep-3.9%
Oct+1.6%
Nov+11.4%
Dec-4.4%
2017
Jan+2.3%
Feb+2.6%
Mar+2.3%
Apr+1.3%
May+10.6%
Jun-0.4%
Jul+2.3%
Aug-0.3%
Sep+4.2%
Oct+4.4%
Nov-0.2%
Dec-6.0%
2016
Jan-11.0%
Feb-1.0%
Mar+5.1%
Apr+5.3%
May+2.5%
Jun-2.5%
Jul-0.6%
Aug+0.3%
Sep+7.5%
Oct-5.2%
Nov-1.2%
Dec-1.3%
2015
Jan-3.4%
Feb+10.2%
Mar+1.6%
Apr+0.9%
May-2.4%
Jun-0.5%
Jul-0.9%
Aug-7.3%
Sep-4.2%
Oct+8.9%
Nov+3.8%
Dec+5.7%
2014
Jan-3.9%
Feb-4.4%
Mar+8.0%
Apr-7.1%
May+2.3%
Jun+4.0%
Jul-5.9%
Aug+3.0%
Sep-0.6%
Oct-2.1%
Nov+5.4%
Dec+5.6%
2013
Jan+6.5%
Feb+6.6%
Mar+4.5%
Apr+0.5%
May-1.6%
Jun+5.1%
Jul+5.0%
Aug-3.6%
Sep+5.6%
Oct+4.0%
Nov-0.6%
Dec+0.7%
2012
Jan+0.2%
Feb-7.7%
Mar-1.8%
Apr+4.2%
May-3.3%
Jun+4.2%
Jul+1.4%
Aug+0.9%
Sep-0.3%
Oct-8.8%
Nov+4.2%
Dec-3.6%
2011
Jan+8.5%
Feb+3.5%
Mar+4.5%
Apr+2.4%
May+0.4%
Jun-0.3%
Jul-0.4%
Aug-4.4%
Sep-11.5%
Oct+5.6%
Nov-2.9%
Dec+10.8%
2010
Jan-0.6%
Feb+13.5%
Mar+5.9%
Apr+10.1%
May-11.1%
Jun-1.0%
Jul+1.8%
Aug-5.1%
Sep+7.0%
Oct+3.2%
Nov+0.1%
Dec+9.6%
2009
Jan-0.5%
Feb-11.6%
Mar+1.6%
Apr+25.0%
May-3.2%
Jun-2.4%
Jul-3.2%
Aug+3.5%
Sep+10.5%
Oct-4.3%
Nov+0.6%
Dec-1.9%
2008
Jan-7.8%
Feb-6.1%
Mar+3.1%
Apr+3.4%
May+3.1%
Jun-11.8%
Jul-0.3%
Aug+10.1%
Sep-5.5%
Oct-18.7%
Nov-12.1%
Dec+9.1%
2007
Jan+2.9%
Feb-2.9%
Mar+0.4%
Apr+3.6%
May+12.9%
Jun-4.3%
Jul-7.9%
Aug-4.2%
Sep+5.9%
Oct+3.4%
Nov-5.6%
Dec-4.3%
2006
Jan-6.0%
Feb-0.8%
Mar+0.2%
Apr+2.6%
May-1.1%
Jun-6.9%
Jul+1.3%
Aug+11.4%
Sep+5.6%
Oct+0.1%
Nov+5.9%
Dec-0.8%
2005
Jan-6.1%
Feb+2.3%
Mar-6.2%
Apr-9.3%
May+2.4%
Jun-3.9%
Jul+1.3%
Aug+5.5%
Sep+7.9%
Oct-1.1%
Nov+0.4%
Dec-0.4%
2004
Jan+8.6%
Feb+3.7%
Mar-2.5%
Apr-2.4%
May-1.8%
Jun+5.6%
Jul-7.1%
Aug+0.5%
Sep+7.5%
Oct-3.9%
Nov+5.3%
Dec+9.3%
2003
Jan-9.1%
Feb-3.9%
Mar+11.1%
Apr+12.6%
May+1.4%
Jun-2.4%
Jul-2.1%
Aug-3.7%
Sep+6.7%
Oct+8.3%
Nov-0.8%
Dec+3.6%
2002
Jan+13.7%
Feb+0.8%
Mar-8.5%
Apr+18.4%
May+11.2%
Jun+1.2%
Jul-3.9%
Aug-0.5%
Sep+6.4%
Oct-8.6%
Nov-9.8%
Dec+3.8%
2001
Jan—
Feb—
Mar—
Apr—
May—
Jun—
Jul-2.8%
Aug+9.0%
Sep+24.3%
Oct-0.4%
Nov+1.7%
Dec-0.6%
Avg
Jan+0.6%
Feb+0.2%
Mar+1.0%
Apr+2.1%
May+1.2%
Jun-0.8%
Jul-0.5%
Aug+0.8%
Sep+3.4%
Oct-0.4%
Nov+1.8%
Dec+1.7%
Median
Jan+0.2%
Feb-0.8%
Mar+1.6%
Apr+2.4%
May+1.2%
Jun-0.8%
Jul-0.3%
Aug+0.3%
Sep+5.6%
Oct+0.1%
Nov+1.7%
Dec+0.7%
Last 5Y Avg
Jan+1.3%
Feb-0.6%
Mar+0.5%
Apr-7.8%
May-1.1%
Jun-2.0%
Jul-1.0%
Aug+2.4%
Sep+2.4%
Oct+3.8%
Nov+3.9%
Dec+0.7%
Std Dev (σ)
Jan6.2%
Feb6.7%
Mar5.0%
Apr9.0%
May5.9%
Jun5.4%
Jul5.0%
Aug5.2%
Sep6.8%
Oct7.4%
Nov6.3%
Dec4.8%
Consistency (μ/σ)
Jan0.10
Feb0.03
Mar0.20
Apr0.24
May0.20
Jun-0.14
Jul-0.11
Aug0.15
Sep0.49
Oct-0.06
Nov0.28
Dec0.36
Win Rate (%)
Jan52%
Feb48%
Mar64%
Apr64%
May56%
Jun38%
Jul48%
Aug52%
Sep68%
Oct52%
Nov64%
Dec52%
Winning / Losing Months
Jan▲13▼12
Feb▲12▼13
Mar▲16▼9
Apr▲16▼9
May▲14▼11
Jun▲9▼15
Jul▲12▼13
Aug▲13▼12
Sep▲17▼8
Oct▲13▼12
Nov▲16▼9
Dec▲13▼12
Longest Win / Loss Streak
Jan▲4▼3
Feb▲2▼4
Mar▲6▼2
Apr▲8▼5
May▲3▼2
Jun▲3▼7
Jul▲4▼4
Aug▲3▼2
Sep▲7▼2
Oct▲4▼2
Nov▲4▼2
Dec▲3▼3
Best
Jan+13.7%2002
Feb+13.5%2010
Mar+11.1%2003
Apr+25.0%2009
May+13.8%2020
Jun+9.5%2019
Jul+7.7%2024
Aug+11.4%2006
Sep+24.3%2001
Oct+12.9%2023
Nov+14.1%2020
Dec+10.8%2011
Worst
Jan-11.0%2016
Feb-11.6%2009
Mar-9.9%2020
Apr-11.9%2026
May-11.1%2010
Jun-12.0%2021
Jul-10.4%2021
Aug-7.6%2018
Sep-11.5%2011
Oct-18.7%2008
Nov-12.1%2008
Dec-6.0%2017
−18.7%+25.0%
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