calendar effects

Calendar Effect

The extent to which holding a stock at a particular time helps or harms returns. That is, some analysts believe that stocks perform better or worse on given days, months, or even years. Analysts disagree on which, if any, calendar effects are "real," but they can have an impact on the psychological outlook of investors, which can help or harm returns. For example, some investors believe that October is a bad month to buy because many of the great stock market crashes took place in October. Whether or not there is any evidence for this, it may discourage enough investors from buying that it actually will harm stock prices. Major examples of calendar effects include the January effect and the presidential election cycle theory.

calendar effects

The impact a particular day, week, or month a security is owned has on rates of return. For example, studies indicate tax selling produces downward pressure on stock prices during the end of the calendar year followed by upward price pressure in January. See also January effect.

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As a result, in the second quarter of 2019, according to data adjusted seasonally and for calendar effects, Hungary's economic growth rate was 5.2 per cent, which is 0.1 percentage point higher than forecast in preliminary estimates and 1.1 percentage points higher than recorded in the previous quarter, Mr Varga said.

Double-digit pay rise supports economic growth

The performance of the Hungarian economy grew by 5.1 per cent according to seasonally adjusted data that also takes calendar effects into consideration, and as a result according to the available data Hungary is at the vanguard of the EU, exceeding the 1.3 per cent average of European Member States almost four-fold, Mr Varga highlighted.

Hungary : Hungarian economy continues to expand dynamically

Producer firms reported 2.5% more orders month-on-month, after a 2.0% fall in May, federal statistics authority Destatis said in figures adjusted for seasonal and calendar effects.

German Industrial Orders Surprise With June Rebound

They calculated the daily logarithmic returns from the KSE-100 index to test these calendar effects. They concluded the Pakistan Stock Exchange as an inefficient market by elaborating that the pre-holiday has significant positive returns than post-holidays.

BEHAVIOR OF ISLAMIC AND CONVENTIONAL HOLIDAY-EFFECT AND ADAPTIVE MARKET HYPOTHESIS: A FIRM LEVEL EVIDENCE FROM EMERGING MARKET OF ASIA

Adjusting for calendar effects, the gap was even larger, the Treasury official said.

US Government Posts Widest Deficit Since 2012

Calendar effects is an anthology of various theories that believe on certain days, months or times of year will be in the above-average or below-average price changes in market indexes, which consequently represent excellent or terrible period to trade.

TRENDS AND CALENDAR EFFECTS IN MALAYSIA'S STOCK MARKET

According to the Bank of Russia's estimates, industrial production in October dropped on the prior month; so too did it on an annualised basis, stripping out seasonal and calendar effects.

Recovering consumer demand to shore up economic growth

New orders decreased by 0.7 percent month-on-month in July, adjusted for seasonal and calendar effects, the federal statistics authority Destatis said.

Surprise fall in German industrial orders in July

The Islamic calendar effects: Evidence from twelve stock markets.

Islamic Calendar Anomalies: Evidence from Pakistan

"While the combination of soft comps and calendar effects should result in a solid-looking first quarter result, we retain our negative stance, believing that M&S's clothing and home division will prove more difficult and costly to turn around than expected," he said.

M&S looks set for a boost in clothing sales

Although the services CPI fell in March, the down-tick is attributable to calendar effects related to the timing of the Easter holiday, which fell early last year.

Europe's road to reflation

Fashion retail company H & M Hennes & Mauritz AB (STO:HMB) reported on Wednesday that its sales including VAT increased by 3% in local currencies adjusted for negative calendar effects in the month of February 2017, as compared to the same month last year.