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S&P 500 vs DAX: which is stronger each month?

S&P 500 has been strongest in July (+1.67%) and weakest in September (-1.12%). DAX has been strongest in April (+2.65%) and weakest in September (-2.08%). S&P 500 had the higher average in 6 of 12 months, and the two pointed the same way in 9 of 12.

Month by month

MonthS&P 500 averageS&P 500 up yearsDAX averageDAX up yearsStronger
January+1.21%63%+0.85%59%S&P 500
February-0.11%52%+1.06%56%DAX
March+0.42%61%+0.40%51%S&P 500
April+1.36%66%+2.65%72%DAX
May+0.13%61%+1.03%64%DAX
June+0.79%57%-0.04%49%S&P 500
July+1.67%61%+1.60%67%S&P 500
August+0.70%59%-1.84%49%S&P 500
September-1.12%45%-2.08%38%S&P 500
October+0.55%59%+1.99%68%DAX
November+1.01%62%+2.61%66%DAX
December+1.27%72%+2.21%74%DAX

S&P 500 since 1928, DAX since 1988, monthly close to close, as of October 16, 2026. The highlighted row is the current month. Monthly correlation over the last 16 years: 0.77.

More on each market

Questions

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.

What is the best month for DAX?

Since 1988, April has averaged +2.65% for DAX, higher in 72% of 39 years.

Do S&P 500 and DAX move together?

Over the last 16 years their monthly moves had a correlation of 0.77, 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.