Free tool · Market statistics
Nasdaq 100 (NAS100) volatility by hour, day and month
When Nasdaq 100 (NAS100) moves, how much, and on which days — measured on 1507 trading days of real one-minute data from our broker feed, 2021-01-04 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 Nasdaq 100 (NAS100) was 14:00–15:00 UTC (75.2 bp), and the quietest was 04:00–05:00 UTC (16.7 bp): 4.5 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 |
|---|---|---|---|
| 00:00 | 24.9 | 22.1 | 89 |
| 01:00 | 25.8 | 19.7 | 89 |
| 02:00 | 20.1 | 18.1 | 89 |
| 03:00 | 18.9 | 14.9 | 88 |
| 04:00 | 16.7 | 13.2 | 87 |
| 05:00 | 18.8 | 15.0 | 87 |
| 06:00 | 19.4 | 14.9 | 87 |
| 07:00 | 20.9 | 17.5 | 87 |
| 08:00 | 27.9 | 24.6 | 87 |
| 09:00 | 30.0 | 25.8 | 87 |
| 10:00 | 22.9 | 19.4 | 87 |
| 11:00 | 22.1 | 17.8 | 87 |
| 12:00 | 28.0 | 22.5 | 87 |
| 13:00 | 33.0 | 29.1 | 87 |
| 14:00 | 75.2 | 72.1 | 88 |
| 15:00 | 68.5 | 61.6 | 88 |
| 16:00 | 52.4 | 44.7 | 88 |
| 17:00 | 43.3 | 37.8 | 88 |
| 18:00 | 38.9 | 31.7 | 85 |
| 19:00 | 37.7 | 31.6 | 83 |
| 20:00 | 41.9 | 34.9 | 83 |
| 21:00 | 23.9 | 19.8 | 83 |
| 23:00 | 24.4 | 21.1 | 89 |
Day of the week
Thursday has the widest average daily range (2.08%), Monday the narrowest (1.77%). Only Monday 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 | 1.77 % | +0.237 % ± 0.135 • | 62.3 % | 300 |
| Tuesday | 1.88 % | −0.002 % ± 0.142 | 50.3 % | 304 |
| Wednesday | 2.00 % | +0.096 % ± 0.173 | 54.6 % | 302 |
| Thursday | 2.08 % | −0.030 % ± 0.168 | 50.0 % | 302 |
| Friday | 1.92 % | −0.005 % ± 0.160 | 53.2 % | 299 |
Average open → close return, year by year (%)
| Year | Mon | Tue | Wed | Thu | Fri |
|---|---|---|---|---|---|
| 2021 | +0.076 | +0.033 | −0.053 | +0.179 | +0.133 |
| 2022 | +0.003 | −0.072 | +0.124 | −0.298 | −0.254 |
| 2023 | +0.322 | +0.094 | +0.002 | +0.147 | +0.304 |
| 2024 | +0.151 | −0.027 | +0.045 | +0.151 | +0.012 |
| 2025 | +0.426 | −0.086 | +0.411 | −0.240 | −0.122 |
| 2026 | +0.488 | +0.055 | +0.036 | −0.144 | −0.126 |
Monthly seasonality
Return of each calendar month, from the first open to the last close. With only 6 years per month, one unusual year moves the average a lot: the median and the year-by-year table are there to show it.
| Month | Mean | Median | Positive | Years |
|---|---|---|---|---|
| January | +0.78 % | +1.35 % | 67 % | 6 |
| February | −0.24 % | −0.26 % | 33 % | 6 |
| March | +0.77 % | +1.01 % | 67 % | 6 |
| April | +1.09 % | +1.85 % | 67 % | 6 |
| May | +4.79 % | +7.13 % | 67 % | 6 |
| June | +2.76 % | +6.39 % | 67 % | 6 |
| July | +2.31 % | +2.60 % | 67 % | 6 |
| August | +0.34 % | +0.60 % | 67 % | 6 |
| September | −1.73 % | −1.23 % | 50 % | 6 |
| October | +1.15 % | +1.95 % | 50 % | 6 |
| November | +4.17 % | +4.90 % | 80 % | 5 |
| December | −0.68 % | +0.41 % | 60 % | 5 |
Every month, year by year (%)
| Year | Jan | Feb | Mar | Apr | May | Jun | Jul | Aug | Sep | Oct | Nov | Dec |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 2021 | −0.2 | +0.3 | +1.0 | +5.9 | −1.6 | +6.7 | +2.7 | +4.1 | −5.9 | +7.8 | +2.2 | +0.5 |
| 2022 | −9.3 | −4.4 | +4.9 | −13.6 | −2.0 | −9.2 | +12.9 | −4.9 | −10.5 | +4.4 | +5.6 | −9.1 |
| 2023 | +9.6 | −0.3 | +9.8 | +0.9 | +7.7 | +6.3 | +3.8 | −1.7 | −4.8 | −3.0 | +10.7 | +5.6 |
| 2024 | +1.9 | +5.0 | +1.1 | −5.1 | +6.6 | +6.6 | −1.5 | +0.3 | +2.4 | −0.5 | +4.9 | +0.4 |
| 2025 | +1.7 | −0.2 | −8.1 | +2.8 | +7.8 | +6.5 | +2.5 | +0.9 | +5.0 | +4.9 | −2.6 | −0.8 |
| 2026 | +1.1 | −1.9 | −4.0 | +15.7 | +10.4 | −0.3 | −6.5 | +3.4 | +3.4 | −6.7 | — | — |
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 |
|---|---|---|---|
| Tokyo 09:00–15:00 Tokyo time | 65.7 bp | 35 % | 257 |
| London 08:00–16:30 London time | 132.7 bp | 77 % | 257 |
| New York 08:00–17:00 New York time | 149.9 bp | 86 % | 257 |
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: 1507 complete trading days, 2021-01-04 to 2026-10-30.
- 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.