Russell 2000 in November: seasonality and history
Since 1987, the Russell 2000 has risen in November in 69% of years (27 of 39), with an average return of +2.24% and a median of +3.01%. That makes November its #2 month of 12.
Average+2.24%
Years up69%
Best year2020 · +18.29%
Worst year2008 · −11.98%
The seasonal path through November
Cumulative sum of each day's average return through November, all years since 1987.
| Strongest days | Avg | Up |
|---|---|---|
| Nov 24 | +1.08% | 82% |
| Nov 2 | +0.59% | 68% |
| Nov 3 | +0.57% | 71% |
| Weakest days | Avg | Up |
|---|---|---|
| Nov 19 | −0.59% | 41% |
| Nov 12 | −0.38% | 48% |
| Nov 20 | −0.32% | 46% |
Seasonal trend windows touching November
- ▲ Bullish Oct 28 – Nov 6 · 10 days · seasonal Σ +3.76%
- ▲ Bullish Nov 21 – Dec 8 · 18 days · seasonal Σ +4.09%
November in recent years
| Year | Russell 2000 in November |
|---|---|
| 2025 | +0.85% |
| 2024 | +10.84% |
| 2023 | +8.83% |
| 2022 | +2.15% |
| 2021 | −4.28% |
| 2020 | +18.29% |
| 2019 | +3.97% |
| 2018 | +1.45% |
| 2017 | +2.77% |
| 2016 | +10.99% |
Questions
Is November a good month for the Russell 2000?
On average, yes: +2.24% since 1987, rising in 69% of years. But the range is wide, from −11.98% in 2008 to +18.29% in 2020, so an average is a tendency, not a forecast.
What are the strongest days in November?
Nov 24 (+1.08%, up 82% of years), Nov 2 (+0.59%, up 68% of years), Nov 3 (+0.57%, up 71% of years).