k | Period pk (Months) | Calendar Based Risk | Calendar Effect | k | Period pk (Months) | Calendar Based Risk | Calendar Effect |
1 | 48.0 | 4-yr | Presidential | 13 | 3.7 |
|
|
2 | 24.0 | 2-yr | Election | 14 | 3.4 | 8-yr | Business Cycle |
3 | 16.0 |
|
| 15 | 3.2 | 16-yr | Long Term |
4 | 12.0 | 1-yr | Annual/Summer | 16 | 3.0 | 1/4-yr | Quarter |
5 | 9.6 |
|
| 17 | 2.8 |
|
|
6 | 8.0 | 8-yr | Business Cycle | 18 | 2.7 |
|
|
7 | 6.9 |
|
| 19 | 2.5 |
|
|
8 | 6.0 | 1/2-yr | Sell in May | 20 | 2.4 | 1-mo | Jan/Nov |
9 | 5.3 |
|
| 21 | 2.3 |
|
|
10 | 4.8 | 8-yr | Business Cycle | 22 | 2.2 | 8-yr | Business Cycle |
11 | 4.4 |
|
| 23 | 2.1 |
|
|
12 | 4.0 | 1-mo | Jan/Nov | 24 | 2.0 | 1-mo | Jan/Nov |