Friday the 13th…the connotations aren't good. Camp Crystal Lake. Machetes. Dead camp counselors come to mind — thanks to the cult "slasher" film "Friday the 13th."
Well, it's Friday the 13th today. Is your portfolio safe?
Considering the is riding a three-day losing streak after making a record high Monday, it wouldn't be a stretch to say investors are worried their portfolio account balances might get slashed yet again on Friday the 13th.
But history says Friday the 13th on Wall Street is no more macabre than any other day in the market, according to data provided by Howard Silverblatt, senior index analyst at S&P Dow Jones Indices.
Here are some of the not-so spooky stats:
- Friday the 13th is up more than it's down.
Over the past 146 Friday the 13th trading days, the market has been up 82 times, or 56.2% of the time. And its been down 63 times, or 43.2% of the time. (Friday, April 13, 1962 was flat.)
- Friday the 13th posts better returns than the average Friday.
The market is up 52.2% of the time on Friday, compared to a 56.2% on Friday the 13th.
But here's the key stat:
- Friday, June 13 — today's date! — has been up 10 out of 12 times since 1928, or 83% of the time.
"Friday, June 13th has great odds," says Silverblatt.
Here's how the S&P 500 has performed on Friday, June 13th:
Source: S&P Dow Jones Indices
— By Adam Shell, USAToday.com