Event: St. Patrick’s Day
Everyone is a little Irish on Saint Patrick’s Day (except the Scottish). Each year on March 17th, St. Patrick’s Day is celebrated to commemorate the anniversary of his death in the fifth century. He did after all drive the snakes from Ireland and used the shamrock to explain the Trinity. [1] The Irish have observed this day as a religious holiday for over 1,000 years. Its popularity might have something to do with its timing in the year. It fell right in the middle of Lent, people began using it as a reason to celebrate and take a break from the restraints and abstinence of the period leading up to Easter. Nowadays it’s all about huge parades, ancestry, traditions, shamrocks, leprechauns, green beer, and of course good times.
The questions is … will the “luck of the Irish” have a positive influence on the markets heading into St. Patrick’s Day?
Market Comparision
How do the markets perform leading up to and including St. Patrick’s Day? The analysis table below breaks down each of the 30+ markets into four separate trading periods. These time frames span 6-days, 4-day, 2-days, and the event day itself. The return performance for each time frame is measured against its normal performance during the year to calculate a final over or underperformance return. This metric quantifies, in percentage points, the advantages or disadvantages associated with St. Patrick’s Day. Markets highlighted with a checkmark or an “x” should be closely monitored for potential strength or weakness heading into the event.
[1] St. Patrick did not drive the snakes from Irland because there were no snakes in pre-modern Ireland. Additionally, none of the early Patrician stories used a shamrock as a symbol of the Christian Trinity when he preached to the heathen Irish. [More info]
Calendar Breakdown by Events
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