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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The model automatically accounts for relevant holidays, other calendar effects and daily events such as the opening and closing auctions of the different markets.

Germany : Deutsche Boerse launches Intraday Volatility Forecast for Futures of DAX, EURO STOXX 50 and Euro-Bund

Like-for-like revenue, excluding calendar effects and car- fuel sales, fell 14 per cent in China, four percentage points more than analysts predicted.

Carrefour shares reach four-year high

In addition to calendar effects, the increased geopolitical tensions are likely to have played a role.

Central bank says German growth stagnated in Q2

As well as calendar effects, increased geopolitical tensions likely played a role in this," it said in its July monthly report.

Germany urged to boost infrastructure investments

Work day adjustment is an adjustment for variations in monthly data, caused by calendar effects, different number of calendar and work days in the month, and national holydays - for example the presence of more days off in May could contribute to the decline in the production in some activities.

Bulgaria's Construction Down, Retail Up M/M Nov 2013

Meanwhile, data adjusted for seasonal and calendar effects shows that exports went up 4.

$9.8 bln trade deficit in May below market expectations

These two calendar effects had a negative net impact on resorts' operating incomes of around U7 million, which hampered performance in the first half of 2013.

Hotel Business News - Europe

These two calendar effects had a negative net impact on resorts' operating incomes of around[euro]7 million, which hampered performance in the first half of 2013.

Club Med Displays Resilience in the First-Half of 2013 Despite a Recessionary Environment in Europe

Sequential momentum has deteriorated as, adjusted for seasonality and calendar effects, IP reversed about a third (-0.

Rosbank- Eco Analysis: Russia: No signs of underlying improvement in IP, May 22, 2013

SeeNews) - Nov 8, 2012 - Turnover in Germany's manufacturing industry, adjusted for seasonal and calendar effects, declined by 3% in September 2012 compared with the previous month after a rise of 0.

Germany's manufacturing turnover goes down by 3% M/M in Sep 2012

Results for LTC are close to those obtained for death benefit insurance, with the same conjecture of partial funding due to the importance of calendar effects after the runoff decision.

Commitment and lapse behavior in long-term insurance: a case study

1 percent in June compared with the previous month, a fall led by a decline in the construction sector and exacerbated by calendar effects, official data showed Friday, according to AP.