Ibovespa vs S&P 500: which is stronger each month?
Ibovespa has been strongest in January (+5.14%) and weakest in October (+1.31%). S&P 500 has been strongest in July (+1.67%) and weakest in September (-1.12%). Ibovespa had the higher average in 12 of 12 months, and the two pointed the same way in 10 of 12.
Month by month
| Month | Ibovespa average | Ibovespa up years | S&P 500 average | S&P 500 up years | Stronger |
|---|---|---|---|---|---|
| January | +5.14% | 48% | +1.21% | 63% | Ibovespa |
| February | +2.22% | 58% | -0.11% | 52% | Ibovespa |
| March | +2.32% | 48% | +0.42% | 61% | Ibovespa |
| April | +2.98% | 64% | +1.36% | 66% | Ibovespa |
| May | +1.98% | 44% | +0.13% | 61% | Ibovespa |
| June | +3.23% | 56% | +0.79% | 57% | Ibovespa |
| July | +2.78% | 71% | +1.67% | 61% | Ibovespa |
| August | +1.91% | 59% | +0.70% | 59% | Ibovespa |
| September | +2.11% | 71% | -1.12% | 45% | Ibovespa |
| October | +1.31% | 64% | +0.55% | 59% | Ibovespa |
| November | +4.67% | 61% | +1.01% | 62% | Ibovespa |
| December | +3.62% | 67% | +1.27% | 72% | Ibovespa |
Ibovespa since 1993, S&P 500 since 1928, monthly close to close, as of October 16, 2026. The highlighted row is the current month. Monthly correlation over the last 16 years: 0.47.
More on each market
Questions
What is the best month for Ibovespa?
Since 1994, January has averaged +5.14% for Ibovespa, higher in 48% of 33 years.
What is the best month for S&P 500?
Since 1928, July has averaged +1.67% for S&P 500, higher in 61% of 99 years.
Do Ibovespa and S&P 500 move together?
Over the last 16 years their monthly moves had a correlation of 0.47, where 1 means they always move together and 0 means no link.
History describes the past. Not investment advice.
Questions, ideas or corrections?
Write to us. We read every email.
Not investment advice. Market Seasonality publishes historical statistics, news summaries and scenario analysis for information and education. Past patterns do not guarantee future results. Nothing here is a recommendation to buy, sell or hold any asset, and scenarios describe possible paths without predicting them. See the disclaimer and methodology.