98 complete years · median +12% · positive in 66 of 98 · 2026 so far +13% (217 days, incomplete)
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cycle-v3 · Close-to-close against the previous year end. Incomplete years are flagged and excluded from every statistic quoted here — a part-year printed beside full ones is the most common way this chart misleads.
98 complete years · median +12% · positive in 66 of 98 · 2026 so far +13% (217 days, incomplete)
Every value plotted for a past date could have been computed on that date. Normalised series expand their window rather than scaling against the full history, so nothing here is drawn using information that did not exist yet — which is also why the early years of a normalised series are dropped rather than shown against a range of one.