Free tool · Market statistics
CAC 40 (FRA40) volatility by hour, day and month
When CAC 40 (FRA40) moves, how much, and on which days — measured on 474 trading days of real one-minute data from our broker feed, 2024-12-16 to 2026-10-30. Descriptive statistics of the past, not a forecast.
Volatility by hour
Over the last 12 months, the hour with the widest average range on CAC 40 (FRA40) was 08:00–09:00 UTC (51.0 bp), and the quietest was 20:00–21:00 UTC (20.7 bp): 2.5 times smaller.
Average range of each one-hour bar, in basis points of price. Hours without prices in our feed are not drawn.
Table: range by hour, UTC, last 12 months
| Hour (UTC) | Mean, bp | Median, bp | Hours measured |
|---|---|---|---|
| 07:00 | 30.1 | 27.1 | 87 |
| 08:00 | 51.0 | 46.4 | 87 |
| 09:00 | 35.8 | 32.1 | 87 |
| 10:00 | 28.7 | 27.2 | 87 |
| 11:00 | 25.4 | 22.0 | 87 |
| 12:00 | 26.4 | 21.3 | 87 |
| 13:00 | 27.9 | 25.2 | 85 |
| 14:00 | 33.2 | 31.3 | 85 |
| 15:00 | 33.6 | 31.9 | 85 |
| 16:00 | 35.5 | 29.6 | 85 |
| 17:00 | 23.9 | 21.5 | 85 |
| 18:00 | 21.1 | 16.5 | 85 |
| 19:00 | 21.0 | 14.8 | 83 |
| 20:00 | 20.7 | 18.5 | 85 |
Day of the week
Thursday has the widest average daily range (1.39%), Tuesday the narrowest (1.28%). Only Tuesday shows an average open-to-close return that is distinguishable from zero at 95% confidence (marked •). Even then it is one measurement over a few years: check the year-by-year table before reading anything into it.
| Day | Average range | Open → close, mean ± 95% CI | Up days | Days |
|---|---|---|---|---|
| Monday | 1.29 % | +0.049 % ± 0.173 | 44.8 % | 96 |
| Tuesday | 1.28 % | +0.154 % ± 0.151 • | 58.3 % | 96 |
| Wednesday | 1.35 % | +0.143 % ± 0.243 | 56.4 % | 94 |
| Thursday | 1.39 % | +0.029 % ± 0.199 | 54.3 % | 94 |
| Friday | 1.34 % | −0.100 % ± 0.199 | 46.8 % | 94 |
Average open → close return, year by year (%)
| Year | Mon | Tue | Wed | Thu | Fri |
|---|---|---|---|---|---|
| 2024 | −0.110 | +0.385 | −1.165 | +0.060 | +0.405 |
| 2025 | −0.058 | +0.189 | +0.305 | −0.032 | −0.133 |
| 2026 | +0.190 | +0.106 | −0.015 | +0.098 | −0.084 |
Monthly seasonality
Not shown: the feed has fewer than three complete years of homogeneous data for this market, too few to say anything about a calendar month.
Trading sessions
How much of the day's range happens inside each session, over the last 12 months. Sessions overlap, so the shares do not add up to 100%. A session with no prices in our feed is not listed.
| Session | Average range | Median share of the day's range | Days |
|---|---|---|---|
| London 08:00–16:30 London time | 109.4 bp | 90 % | 253 |
| New York 08:00–17:00 New York time | 90.5 bp | 72 % | 253 |
Volatility over the last year
ATR (14) as a percentage of the price, one point per trading day.
How it is measured
- One-minute bid prices from the cTrader broker feed we use for our own backtests: 474 complete trading days, 2024-12-16 to 2026-10-30. The feed for this market changed on 2024-12-16, so only the data since then is used.
- A trading day is the broker's: it closes at 17:00 New York time, as in cTrader. Partial days (holidays) are left out.
- Range = high − low of the period, as a share of its opening price. 1 bp (basis point) = 0.01%. ATR is Wilder's 14-day average true range.
- The hourly profile is measured in UTC and kept separately for US summer and winter time, so the hours shown in your time zone stay right all year.
- Updated every day after the market data sync. These are descriptive statistics of the past: they are not a forecast and not a trading signal.