Friday the 13th has been known to give some people the creeps. Here are some freaky facts about its origin.
Investors who suffer from triskaidekaphobia or paraskevidekatriaphobia might want to tread carefully when trading stocks on Friday the 13th.
It’s a one-two phobic punch. Triskaidekaphobia is the fear of the number 13. Paraskevidekatriaphobia is the fear of Friday the 13th.
What’s the market connection? The Standard & Poor’s 500 stock index performs worse on Fridays that end in 13 than it does on every other Friday. Since 1928, there have been 152 Friday the 13ths. And the S&P 500 has posted average daily gains of 0.02%, lower than the 0.05% gain for the 4,466 Fridays from 1928 to 2016, according to Ryan Detrick, senior market strategist for LPL Financial, who penned a report, Friday the 13th in October? Oh No! If you annualize those gains, Friday the 13th looks even worse, with a 4.2% gain vs. 12.8% for all Fridays.
If that’s not enough to give an investor pause, Detrick’s analysis shows that the two worst “Friday the 13th” daily returns for the S&P 500 took place in October: a 3.8% drop in 1933 and a 6.1% drubbing in 1989.
Detrick sums up the calendar quirk this way: “Unless you break a mirror or see a black cat on Friday, we aren’t in any way saying one day matters more or less than another. Still, wouldn’t you know it — Friday the 13th tends to be a weak day on average, but taking it a step further, this day does even worse during October. You can’t make this stuff up. Happy Friday the 13th everyone.”
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