Nikkei 225 vs S&P 500: which is stronger each month?
Nikkei 225 has been strongest in December (+1.49%) and weakest in August (-0.35%). S&P 500 has been strongest in July (+1.67%) and weakest in September (-1.12%). Nikkei 225 had the higher average in 8 of 12 months, and the two pointed the same way in 9 of 12.
Month by month
| Month | Nikkei 225 average | Nikkei 225 up years | S&P 500 average | S&P 500 up years | Stronger |
|---|---|---|---|---|---|
| January | +1.35% | 66% | +1.21% | 63% | Nikkei 225 |
| February | +0.76% | 56% | -0.11% | 52% | Nikkei 225 |
| March | +1.08% | 58% | +0.42% | 61% | Nikkei 225 |
| April | +1.38% | 64% | +1.36% | 66% | Nikkei 225 |
| May | +0.64% | 53% | +0.13% | 61% | Nikkei 225 |
| June | +0.66% | 61% | +0.79% | 57% | S&P 500 |
| July | -0.07% | 48% | +1.67% | 61% | S&P 500 |
| August | -0.35% | 50% | +0.70% | 59% | S&P 500 |
| September | -0.34% | 48% | -1.12% | 45% | Nikkei 225 |
| October | +0.40% | 52% | +0.55% | 59% | S&P 500 |
| November | +1.29% | 59% | +1.01% | 62% | Nikkei 225 |
| December | +1.49% | 69% | +1.27% | 72% | Nikkei 225 |
Nikkei 225 since 1965, 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: 0.64.
More on each market
Questions
What is the best month for Nikkei 225?
Since 1965, December has averaged +1.49% for Nikkei 225, higher in 69% of 61 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 Nikkei 225 and S&P 500 move together?
Over the last 16 years their monthly moves had a correlation of 0.64, where 1 means they always move together and 0 means no link.
History describes the past. Not investment advice.
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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.